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B2Gold shines light on positive exploration results at flagship Fekola

Triple listed B2Gold Corp. has confirmed through exploration drilling that gold mineralisation extends from its flagship Fekola mine reserve pit boundary by 1 km. Mali...

B2Gold and Papillon to merge

B2Gold has entered into a Merger Agreement with Papillon Resources Limited to combine the two companies, with the intent to further the development of...

B2gold secures funding for Otjikoto mine

[img:B2gold%20-%20Pic%201.thumbnail.jpg|B2gold’s Otjikoto
gold mine near
Otavi in Namibia
] Vancouver, Canada --- 22 April 2013

Canadian-based mid-tier gold producer B2Gold has secured a US$150 million revolving loan facility that will be used in part to finance construction of the Otjikoto Gold Mine near Otavi in Namibia.

Canadian-based mid-tier gold producer B2Gold has secured a US$150 million revolving loan facility that will be used in part to finance construction of the Otjikoto Gold Mine near Otavi in Namibia.

Macquarie Bank Limited is the sole underwriter, and the syndicate includes HSBC Securities (USA) Inc. as a lead arranger with HSBC Bank USA, and National Association who committed to fund US$50 million of the facility. FirstRand Bank Limited, acting through its Rand Merchant Bank division, committed to fund US$25 million

The facility comprises three tranches of US$50 million each for a total of US$150 million and replaces the existing US$25 million revolving credit facility with Macquarie Bank. The term of the facility, which has an interest rate of LIBOR plus a margin of 3.5%, is for a period of four years with a final repayment date of 28 March 2017.

B2Gold said the facility would be used to fund construction and development costs related to the Otjikoto gold project and for general corporate purposes.

Construction of the mine, which has a 12-year life of mine based on the probable reserves, started in earnest in January, although a formal ground-breaking ceremony to be officiated by minister of mines and energy Isak Katali is scheduled for later this month.

Construction is due for completion in the fourth quarter of 2014 when mill production is expected to begin, while the first full year of gold production is scheduled for 2015.

Based on current reserve estimates, the mine is expected to produce about 141,000ozpa of gold for the first five years at an average operating cash cost of US$524/oz.  

The Otjikoto gold project is 92% owned by B2Gold, and 8 % by EVI Gold (Pty) Ltd, a Namibian black empowerment group.

B2Gold is listed on the Namibia and Toronto Stock Exchanges.

Source: B2gold. For more information, click here.

B2Gold receives greenlight to purchase additional 10% in Mali mine

B2Gold announced that the Malian Council of Ministers and the President of Mali have approved the participation of the State in Fekola SA.

Fekola to install 17MW/15MWh energy storage system

Technology group Wärtsilä will optimise the energy system at Fekola Mine, owned by B2Gold, located in a remote region in southwest Mali.

In depth: B2Gold’s Otjikoto mine

TSX/NYSE/NSX-listed gold company B2Gold’s Otjikoto gold mine in Namibia, which achieved commercial production one month ahead of schedule in February, is already exceeding production...

Awards Section: Excellence in Energy Conservation

B2Gold Corp is showing the successful inroads African mining companies can make in improving their environmental footprints.

B2Gold contributes to COVID-19 relief efforts in Namibia

Gold producer B2Gold Corp., which operates the Otjikoto mine in Namibia, has contributed US$2 million to assist the Namibian government's COVID-19 relief programme.

Webinar recording: Fekola – A Hybrid PV, Storage, Thermal-powered Gold Mine

Join Mining Review Africa and experts from Wärtsilä and B2Gold who discuss how there are no compromises for mining microgrids: reduce operational costs and go green.

B2Gold completes evaluation of Fekola solar plant

B2Gold has completed a preliminary study to evaluate the technical and economic viability of adding a solar plant to the Fekola mine site.