• H1 2025 revenue soar to USD 631.9 mln despite lower -production.

• Average gold selling price rose 41% to USD 3,113/oz; sales volume down 15%.

• B2Gold targets 2025 output of 515,000 oz, boosted by Fekola Regional deposit.

B2Gold Corp said on Thursday its Fekola gold mine in Mali posted revenues of USD 631.9 million in the first half of 2025, a 19% increase from USD 526.9 million a year earlier, despite weaker production. The gain was driven by a 41% rise in the average gold selling price to USD 3,113 per ounce, compared with USD 2,204 per ounce in H1 2024.

Gold sales volumes fell 15%, while mine output slipped 4% year-on-year to 220,166 ounces. The company’s fiscal year 2024 had seen a sharper 33% drop in Fekola’s production, weighing on earnings despite a 21% rise in realized gold prices.

Gold prices have risen about 30% since January, mirroring 2024’s growth. Spot prices are currently around USD 3,330/oz, with Goldman Sachs forecasting USD 3,700/oz by year-end. B2Gold expects to produce at least 515,000 ounces from Fekola in 2025, up from 392,946 ounces in 2024, aided by the new Fekola Regional satellite deposit.

The Malian government holds a 20% stake in the mine, with the remaining 80% owned by B2Gold.

Aurel Sèdjro Houenou