- Write by:
-
Wednesday, February 24, 2021 - 6:54:36 PM
-
654 Visit
-
Print
Mining News Pro - B2Gold announced that it broke its own record in 2020 with total gold production of 1,040,737 ounces and, thus, touched the upper end of its guidance range set between 1,000,000 and 1,055,000 ounces.
The Canadian miner said that these figures include 45,479 ounces of attributable production from the projects that its partner Calibre Mining (TSX-V: CXB) holds in Nicaragua.
B2Gold’s three operating mines, the Fekola mine in Mali, the Masbate mine in the Philippines and the Otjikoto mine in Namibia, produced 995,258 ounces, a number that is also at the upper end of the guidance range of between 955,000 and 1,005,000 ounces.
Output from the company’s mines was 17% higher than what was registered in 2019, marking the twelfth consecutive year of record annual consolidated gold production.
For 2021, the Vancouver-based firm said that it expects total gold production to be between 970,000 and 1,030,000 ounces.
Financials
In terms of financials, B2Gold said it registered a $951-million annual consolidated cash flow from operating activities, which was a 93% increase over 2019.
“Total consolidated cash operating costs (including the company’s estimated attributable share of Calibre’s results) was of $423 per ounce produced ($422 per ounce sold), near the low end of the company’s guidance range (of between $415 – $455 per ounce), and total consolidated AISC of $788 per ounce sold, near the low end of the guidance range (of between $780 – $820 per ounce sold),” the media brief reads.
Net income, on the other hand, was $672 million, including a net impairment reversal for the Masbate mine of $122 million. Net income attributable to the shareholders was $628 million or $0.60 per share, while adjusted net income attributable to shareholders was $515 million or $0.49 per share.
For 2021, B2Gold said it expects total consolidated cash operating costs of between $500 – $540 per ounce and total consolidated AISC of between $870 – $910 per ounce.
According to the company, the figures are higher than those of 2020 due to the planned lower production and higher planned stripping activities at Fekola, higher forecast fuel and labour costs in Mali, and the drawdown of ore stockpiles at Otjikoto.
Short Link:
https://www.miningnews.ir/En/News/611565
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
No comments have been posted yet ...