B2Gold : 2024 Responsible Mining Executive Summary (2024 B2Gold Responsible Mining Executive Summary)
BTO.TO
Published on 06/02/2025 at 14:17
2024
RESPONSIBLE MINING REPORT
MAIN CONTACT FOR ENQUIRIES WITH REGARD TO OUR RESPONSIBLE MINING REPORT:
Ken Jones
Director, Sustainability
B2Gold Corp.
+1 604 681 8371
VISION
TO BE A RESPONSIBLE MINING COMPANY THAT DEMONSTRATES LEADERSHIP BY GOING BEYOND INDUSTRY STANDARDS AND CONTINUING TO RAISE THE BAR ON OUR OWN PERFORMANCE.
NOTE
VALUES FOR RESPONSIBLE MINING
THIS IS A SHORTENED VERSION OF THE B2GOLD 2024 RESPONSIBLE MINING REPORT WITH HIGHLIGHTS FROM OUR FULL REPORT, WITH THE LATTER CONTAINING A CAUTIONARY STATEMENT ON FORWARD LOOKING INFORMATION.
PLEASE VISIT https://WWW.B2GOLD.COM TO REFERENCE OR DOWNLOAD OUR FULL 2024 RESPONSIBLE MINING REPORT AND OTHER ESG-RELATED INFORMATION.
FAIRNESS
RESPECT
TRANSPARENCY
ACCOUNTABILITY
ALL INFORMATION IS CURRENT AS OF DECEMBER 31, 2024, UNLESS OTHERWISE INDICATED. ALL FINANCIAL FIGURES ARE QUOTED IN US DOLLARS, UNLESS OTHERWISE NOTED. SOME FIGURES AND PERCENTAGES MAY NOT ADD UP TO THE TOTAL FIGURE OR 100% DUE TO ROUNDING.
TABLE OF
MESSAGE FROM 4
THE CEO
ABOUT 5
US
REPORT 8
OUR APPROACH TO 9
ECONOMIC CONTRIBUTION 12
OUR 15
MESSAGE FROM
THE CEO
As I refiect on the achievements and challenges of the past year, I am particularly proud of the dedication of our people, whose expertise and commitment continue to drive B2Gold forward. We have successfully navigated dynamic capital markets, regulatory changes, and evolving environmental, social and governance expectations while maintaining our high standards of responsible mining. I extend my gratitude to our employees, leadership teams, and Board of Directors (Board) for their relentless pursuit of excellence and innovation. Despite challenges, 2024 was a year of significant growth catalysts, underscoring our ability to deliver on our strategic priorities and strengthen our position in the industry.
Growth and Development
In 2024, our focus remained on organic growth and development. Considerable advancements were made across our portfolio, most notably the successful construction of the Goose Project at the Back River Gold
Additional progress was made in advancing our development pipeline, including the release of positive Preliminary Economic Assessments (PEAs) for the Gramalote Project in June 2024 and for the Antelope deposit
promising exploration upside, with the potential to significantly contribute to our production profile. Our approach remains strategic: evaluating opportunities globally while ensuring we uphold responsible mining practices of environmental stewardship, meaningful social investment, and safe and healthy workplaces.
Empowering Our Workforce
Our global workforce is the backbone of our success. We are committed to maintaining the highest safety standards and fostering an inclusive, diverse, and empowering work environment. I am pleased to report that B2Gold has maintained a zero-fatality workplace for the ninth consecutive year, a testament to our unwavering safety culture. We continue to be a safety leader within the industry, maintaining our Lost Time Injury Frequency Rate (LTIFR) of 0.05, reinforcing our commitment to the protection and wellbeing of our people.
We are committed to promoting and improving diversity within our organization and our equity, diversity and inclusion (EDI) initiatives continued to gain momentum in 2024. At year-end, our Board of Directors had 40% female representation, with three of four Board committees chaired by women. At the senior leadership level, 25% of positions were held by women, and our operational sites advanced locally relevant EDI initiatives. Additionally, our commitment to hiring locally remained strong, achieving a 97% local employment rate across our operations by prioritizing local talent and professional development. Our high level of local employment and commitment to upskilling our workforce have allowed us to meaningfully contribute to the economic empowerment of our local workforce and communities.
Community Investment and Collaboration
Strong relationships with our host communities are fundamental to our business. Through meaningful collaboration with communities, governments and non-profit and other organizations, we invest in initiatives that foster long-term social wellbeing and economic resilience. In 2024, B2Gold invested approximately $12.8 million in community programs, supporting areas such as local entrepreneurship, food security, water accessibility, and education.
At the Fekola Complex in Mali, our flagship Goungoubato Agricultural Project, through ongoing training and access to resources, continued to provide sustainable livelihoods and economic stability for over 300 displaced households. At the Masbate Gold Project, more than 600 local jobs were created through training and employment programs. At our Otjikoto Mine in Namibia, we have achieved several key milestones in supporting community self-sufficiency as the mine nears closure.
In Nunavut, we strengthened our collaboration with the Kitikmeot Inuit Association, advancing strategies to support the Kitikmeot Inuit workforce and designing tailored training programs aimed at improving Kitikmeot Inuit employee opportunities and retention. Our community investment approach was refined to align with Kitikmeot community needs and values, ensuring a meaningful and lasting impact. Our commitment extends beyond responsible resource development to fostering meaningful and long-term partnerships built on mutual respect, shared economic opportunities, and cultural understanding.
Environmental Stewardship
Operating across diverse ecosystems, we continue to identify, mitigate, and manage our environmental impact through region-specific initiatives. Climate risk management remains a priority as we advance decarbonization efforts to achieve a 30% reduction in Scope 1 and 2 emissions by 2030.
In early 2025, we celebrated the completion of the Fekola Phase 2 solar expansion, which will supply approximately 30% of the site's electricity demand and reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO2e). Additional renewable energy projects progressed at Masbate and Otjikoto, including two solar installations at Masbate, which will collectively reduce greenhouse gas (GHG) emissions by over 8,800 tonnes of CO2e per year, and a new 9.6-megawatt (MW) solar plant in Namibia.
Building on these successes, we are advancing design and planning for the Back River Energy Centre, a proposed renewable energy facility designed to provide over 55 MW of electricity and significantly reduce emissions at our Nunavut operations.
Realizing Our Full Potential
2025 will be a transformative year as we bring the Goose Project online and ramp up to commercial production. We will also see first ore contributions from the Anaconda Area at the Fekola Complex and the commencement of mining higher-grade ore at Fekola underground.
As we move forward, I am incredibly proud of what we have accomplished and grateful for the dedication of our global team. Together, we continue to create long-term value for our shareholders and stakeholders while upholding the high standards of operational excellence, environmental stewardship, and social responsibility that define B2Gold. With a strong foundation of past achievements, we look ahead to 2025 with a focus on growth, sustainability and innovation, and with confidence in our ability to make a meaningful impact and drive responsible mining into the future.
CLIVE JOHNSON
PRESIDENT & CHIEF EXECUTIVE OFFICER
ABOUT US
ABOUT
OUR HIGH-QUALITY MINES CONTINUE TO MEET OUR FINANCIAL TARGETS, WHICH ALLOWS US TO REMAIN IN A STRONG FINANCIAL POSITION, CONTINUE TO RETURN CAPITAL TO SHAREHOLDERS, AND MAINTAIN OUR COMMITMENT TO RESPONSIBLE MINING.
Disclaimer
B2Gold Corp. published this content on June 02, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 02, 2025 at 18:16 UTC.