B2Gold

Last updated
B2Gold Corporation
Type Public
TSX:  BTO
AMEX:  BTG
S&P/TSX Composite Component
IndustryMining
Founded2007
Headquarters
Key people
Clive T. Johnson (President and CEO, 2007-current)
ProductsGold
Subsidiaries TEAL Namibia (Barbados) Inc.
Mali Mining Investments (British Virgin Islands) Limited
Central Asia Gold Limited (Bahamas)
Website Official Website

B2Gold Corporation is a Canadian mining company that owns and operates gold mines in Mali, Namibia and the Philippines. The company is headquartered in Vancouver, and was founded in 2007, and was then listed on the Toronto Stock Exchange, then later listed on the New York Stock Exchange and the Namibian Stock Exchange. The company was formed by several executives from Bema Gold following its acquisition by Kinross Gold. The company built itself up through mergers with several other mining companies, including Central Sun Mining, CGA Mining, Auryx Gold and Papillon Resources to give it five operating mines, two of which have been divested, and several exploration properties.

Contents

History

B2Gold was founded in 2007 by Clive T. Johnson and other former executives at Bema Gold which was in the process of being acquired by Kinross Gold for $3.5 billion. [1] The terms of the deal allowed the newly created B2Gold to take Bema Gold's exploration properties in Colombia and Russia. [2] [3] Their initial public offering in December 2007 on the Toronto Venture Exchange raised $100 million for exploration and valuation purposes. [1] In 2008, the exploration company graduated to the Toronto Stock Exchange.

In 2009, the B2Gold became a gold producer with its acquisition of the TSX-listed, and financially distressed company, Central Sun Mining. This all-stock deal, estimated to be valued at $67 million, gave B2Gold its first two mines, El Limon and La Libertad both in Nicaragua. [4] The company produced 21,200 ounces of gold in 2009 up to 157,885 ounces in 2012.

B2Gold added a third mine, in 2012, with its merger with ASX-listed CGA Mining. [5] The deal gave B2Gold the Masbate mine in the Philippines and CGA Mining shareholders received 38% of the combined company. [6] Around this time, in 2013, B2Gold also acquired Volta Resources in an all-stock deal worth US$63 million for its Burkina Faso exploration properties, [7] and lost an exploration property in Rancho Grande (El Pavón), Nicaragua, due to community opposition. [8] With three operating mines, B2Gold produced 366,000 ounces of gold in 2013 and 391,000 ounces in 2014.

B2Gold's fourth mine came from the development of the Otjikoto project, acquired in its 2011 merger with TSX-listed Auryx Gold which gave Auryx shareholders 10% of the combined company. the Otjikoto mine in Namibia achieved commercial production in February 2015. [9] With the four mines, the company produced 493,265 ounces of gold in 2015 and 550,423 ounces in 2016.

Their fifth mine was developed from the Fekola property in Mali acquired with B2Gold's merger with ASX-listed Papillon Resources. [10] The 2014 deal, with an estimated value of US$570 million, gave Papillon shareholders 26% of the combined company, [11] and resulted in the Fekola mine beginning production in November 2017. The five mines resulted in the company producing approximately 960,000 ounces of gold in both 2018 and 2019. The company sold its assets in Nicaragua to Vancouver-based mineral exploration company Calibre Mining. [12]

In May 2022, it was announced B2Gold had acquired the Australia-based gold exploration company, Oklo Resources for US$64 million. [13]

Operations

As of 2020, B2Gold has three operating mines:

Past operations

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References

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  2. Hoffman, Andy (January 20, 2007). "Kinross holds firm on offer for Bema". The Globe and Mail. p. B5.
  3. Hoffman, Andy (December 6, 2007). "Former Bema Gold CEO resurfaces at B2Gold". The Globe and Mail. p. B8.
  4. Bailey, Stewart (February 3, 2009). "B2Gold to buy Central Sun Mining for $66.8 million; Deal gives B.C.-based company access to Nicaraguan mines". The Vancouver Sun. p. D2.
  5. "B2Gold to buy CGA Mining in $1.1-billion deal". The Globe and Mail. 2012-09-12. Retrieved 2018-01-24.
  6. "B2Gold aims to grow via CGA bid". The Northern Miner. October 1, 2012.
  7. "B2Gold to acquire Volta Resources in all-stock deal". CBC News. October 28, 2013.
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  9. "Timely acquisitions set B2Gold on growth path". The Northern Miner. August 31, 2016.
  10. "B2Gold strikes deal to buy Papillon Resources for $570-million in stock". Financial Post. 2014-06-03. Retrieved 2018-01-24.
  11. "B2Gold strikes deal to buy Papillon Resources for $570-million in stock". The Northern Miner. June 18, 2014.
  12. Saywell, Trish (July 2, 2019). "B2Gold sells Nicaraguan mines to Calibre". The Northern Miner.
  13. "B2Gold agrees to acquire OKLO Resources for $64m" . Retrieved 2022-05-27.
  14. "Vancouver mining executives trapped in rooms as gunmen stormed Mali hotel". CBC News. Retrieved 2018-01-24.
  15. "2 shot dead at Vancouver based B2Gold mining operation in Philippines". CBC News. Retrieved 2018-01-24.
  16. Riedman, Gabriel (October 24, 2019). "Gold sector plans 'climate risk reset'". National Post. p. FP1.
  17. "Nicaragua: Fatal clashes at 'El Limón' mine". latinnews.com. Retrieved 2018-01-26.
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