Mali’s Fekola gold mine saw production drop 33% in 2024, delivering 392,946 ounces. B2Gold, the mine’s operator, expects a strong rebound in 2025, targeting between 515,000 and 550,000 ounces.

In Mali, the Fekola gold mine produced 93,805 ounces in the first quarter of 2025, down from 119,141 ounces during the same period in 2024. B2Gold, the operator, reported this 21% year-on-year decline in its quarterly report released on May 7. 

Despite the drop, the company maintains its annual production targets. It expects stronger output in the next semester, driven by mining from an underground deposit and the Fekola Regional extension.

Last year, Fekola produced 392,946 ounces of gold, down 33% year-on-year; it processed less. B2Gold forecasts a rebound in 2025, projecting production between 515,000 and 550,000 ounces. This outlook relies on extracting higher-grade ore, especially in H2 2025, when 60% of the annual output is expected, compared to 40% in the first half.

B2Gold plans to begin mining at the Fekola underground deposit and launch production at the Fekola Regional satellite deposit during this period. The company expects these two sites to provide higher-grade ore, boosting overall gold production.

The Fekola underground deposit is projected to yield between 25,000 and 35,000 ounces, while Fekola Regional should add 20,000 to 25,000 ounces. Including output from the operating Fekola and Cardinal pits, B2Gold aims to process 9.56 million tonnes of ore at an average grade of 1.84 grams per tonne of gold, achieving a recovery rate of 93.4%. 

Achieving these goals depends on meeting the production schedule.  B2Gold reported a delay in starting Fekola Regional operations because it is still waiting for an operating license. In its 2024 annual report, the company said it expected this regulatory approval in the first quarter, but it has not yet arrived, and no new timeline has been set. 

In September 2024, B2Gold and the Malian government agreed to apply the 2023 mining code to Fekola Regional, giving the government up to a 30% stake and local investors a 5% interest.

This article was initially published in French by Aurel Sèdjro Houenou

Edited in English by Ange Jason Quenum