B2Gold secures Mali permit to expand Fekola Gold production     

MALI has granted B2Gold a key mining permit that will allow the Canadian gold producer to expand its Fekola operations and develop additional resources in the country. 

The Menankoto permit was issued Aug. 7 after more than a year of discussions between B2Gold and the Malian government, the company said in a statement. 

Menankoto, together with the Dandoko permit, forms Fekola Regional, located about 20 kilometers from the main Fekola mine. B2Gold will own 65% of Fekola Regional, while the Malian government will hold the remaining 35%. The main Fekola mine is owned 80% by B2Gold and 20% by Mali.

New permit expands Fekola 

Menankoto is governed by Mali’s 2023 Mining Code, while the main Fekola mine continues to operate under the country’s 2012 mining code. 

B2Gold was among the first international miners to reach an agreement with Mali over the new mining rules, signing a deal with the government in September 2024. 

The agreement came as Mali pushed for greater state participation in its mining industry and sought a larger share of revenues from gold projects. 

Other major miners also faced difficult negotiations with the government. Resolute Mining reached an agreement after its then-CEO, Terry Holohan, and two colleagues were detained for 10 days. 

Barrick took a harder line in its negotiations, leading to a dispute that resulted in the suspension of operations at its Loulo-Gounkoto complex and the appointment of state management. 

Barrick reached a settlement with Mali in November 2025, ending its arbitration claims and regaining control of Loulo-Gounkoto. The government renewed the mine’s license for 10 years in February.

Gold production set to increase

B2Gold expects production from Fekola Regional to increase through the end of 2027. The company forecasts annual production of more than 150,000 ounces of gold from 2028 through the mid-2030s. 

The Fekola complex is expected to remain in operation into the late 2030s. 

B2Gold said it has invested more than $2 billion in Mali since 2014 and employs more than 3,300 people in the country, with about 98% of its workforce being Malian. 

Fekola development extends B2Gold’s Mali footprint

The Fekola complex is in southwest Mali near the border with Senegal, about 500 kilometers west of Bamako. 

It includes the Fekola mine, Fekola Regional and several exploration and mining permits. The Fekola mine produces ore from the Fekola and Cardinal pits as well as underground operations. 

Underground production began July 30, 2025, after Mali approved the required exploitation permit. 

B2Gold acquired the Fekola project through its 2014 merger with Papillon Resources. Construction began in 2015, with the company completing the Fekola mill and starting ore processing in September 2017, more than three months ahead of schedule and within budget. 

B2Gold, headquartered in Vancouver, Canada, was founded in 2007 and operates gold mines in Canada, Mali, Namibia and the Philippines, alongside development and exploration projects in other countries.