Mining

Burkina Faso: B2Gold Sells Royalties to Sandbox Royalties

Burkina Faso: B2Gold Sells Royalties to Sandbox Royalties
Friday, 07 June 2024 19:11

A few years ago, B2Gold sold two gold assets to Australia's West African Resources, including the future Kiaka gold mine. The Canadian company had nevertheless retained mining royalties on the assets until then.

B2Gold, a Canadian mining company, has sold its royalties on two gold projects in Burkina Faso to Sandbox Royalties. B2Gold disclosed the sale on June 7, stressing that the projects are held by West African Resources.

The deal includes a 2.7% net smelter return royalty on the Kiaka gold mine, which is currently under construction and expected to produce over 100 tonnes of gold in 18.5 years. The second royalty is on the Toega gold deposit, a satellite project to the Sanbrado gold mine, hosting over one million ounces.

The agreement also includes royalties on gold and copper projects in Colombia and Nicaragua. In return, B2Gold will receive a 33% interest in Sandbox, renamed Versamet Royalties Corporation, valued at $90 million.

“This strategic partnership provides B2Gold with an attractive opportunity to unlock the value of our royalties which have gone largely unrecognized by the market and were not a core part of our business," said Clive Johnson, B2Gold's CEO.

B2Gold owns no mine in Burkina Faso but is active in Africa through its operations at Fekola (Mali) and Otjikoto (Namibia) gold mines.

On the same topic
Australia’s Ryzon to sell Nachu project to U.S.-listed Sow Good Deal values asset at about $107 million after years of delays Move...
Government prepares stockpile to absorb excess cobalt from export limits Surplus output continues to build despite quotas and restrictions Weak global...
Deal with Honeywell to produce propylene and detergent inputs locally Projects aim to reduce imports and strengthen industrial value chains Strategy...
Global battery storage capacity rose 40% year-on-year to 108 GW in 2025. Installed capacity expanded more than elevenfold compared with 2021...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
04

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
05

MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions...

MTN Ghana tightens controls on mobile money agents over fraud concerns
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.