- B2Gold (TSX:BTO) is reporting a strike initiated on Friday by certain employees at its Fekola mine in Mali
- The strike, scheduled until December 5, 2024, is likely because of disciplinary action taken against a small number of employees that engaged in illegal activities at the mine
- B2Gold is a low-cost international senior gold producer with operating mines in Mali, Namibia and the Philippines
- B2Gold stock (TSX:BTO) is down by 4.65 per cent on the news trading at C$3.89 per share as of 9:44 am ET
B2Gold (TSX:BTO) is reporting a strike initiated on Friday by certain employees at its Fekola mine in Mali.
The strike, scheduled until December 5, 2024, is likely because of disciplinary action taken against a small number of employees that engaged in illegal activities at the mine. According to Monday’s news release, these activities include “”go slow” actions by the mining employees and an illegal sit-in at the Fekola management office in August 2024.”
Management “remains ready and willing to participate in meetings with the Fekola workers union to reach a resolution,” the release continues.
The Fekola mill remains operational at full throughput capacity, with the company expecting production at the lower end of its 2024 guidance between 420,000-450,000 ounces of gold.
In early 2025, B2Gold expects to begin mining operations at Fekola Regional, 25 kilometres north of the Fekola mine, following the issuance of permits from the State of Mali. The expansion will raise production by an estimated 80,000-100,000 ounces of gold per year.
About B2Gold
B2Gold is a low-cost international senior gold producer with operating mines in Mali, Namibia and the Philippines, in addition to numerous development and exploration projects in various countries including Mali, Canada, Colombia and Finland. The company expects to produce between 800,000 and 870,000 ounces of gold in 2024.
B2Gold stock (TSX:BTO) is down by 4.65 per cent on the news trading at C$3.89 per share as of 9:44 am ET.
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(Top photo of B2Gold’s Fekola mine in Mali: B2Gold)
