B2Gold Reached Agreement on Terms for the Fekola Complex

The agreement calls for expedition of approval of exploitation phase of Fekula underground.

SEATTLE (Scrap Monster): B2Gold Corp., based in Vancouver, British Columbia, reported that it has reached an agreement with the Mali government regarding the development and governance of the Fekula complex.

The agreement calls for the expedition of approval of the exploitation phase of Fekula underground. The mining operations are scheduled to start as soon as Fekola Regional's exploitation permission is obtained. The initial gold production is estimated to begin in early 2025. Additionally, according to a corporate news release, Fekola Underground's first gold production is anticipated to start in the middle of 2025.

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Under the terms of the agreement, the Fekola mine will continue to be governed by Mali’s 2012 Mining Code. The Fekola Mining Convention will remain in place until the end of the next decade. Also, Fekola Regional will be governed by the 2023 Mining Code. Settlement of all income tax assessments for the years 2016 through 2023 is included in the agreement. It also requires the resolution of any unresolved customs disputes and assessments, if any.

Additionally, the deal gives the Fekola Complex a fresh start under the new economic alliance with the State of Mali.

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