B2Gold Corp. Posted Remarkable Year of Robust Growth

SEATTLE (Scrap Monster): Vancouver, B.C.-based B2Gold Corp. announced publication of its fifth annual Responsible Mining Report. The report titled “Raising the Bar” outlines company’s performance against key indicators during the previous year.

According to the report, the consolidated gold production from its three operating mines touched an annual record of 995,258 ounces of gold, thereby hitting the upper end of the guidance range of 955,000-1,005,000 ounces provided earlier. The gold production surged higher by 17%, compared with 2019.

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The surge in gold production during the previous year was mainly driven by the Fekola mine in Mali, whose output recorded 37% year-on-year surge to hit annual record of 622,518 ounces of gold. The Otjikoto Mine in Namibia reported another solid year, producing 168,041 ounces of gold. The production by the Masbate Gold Project in the Philippines too remained strong at 204,699 ounces.

The consolidated cash operating costs stood at $423 per ounce produced in 2020. The consolidated cash flow from operations hit a record of $951 million in 2020, compared with $492 million in 2019, mainly boosted by significant surge in gold revenue. The consolidated gold revenue increased from $1.16 billion in 2019 to $1.79 billion in 2020.