B2Gold : 2024 Sustainability Performance Data (2024 B2Gold Sustainability Performance Data)
BTO.TO
Published on 05/27/2025 at 15:18
2024
ANNEXURE A: SUSTAINABILITY
ECONOMIC DATA TABLES 03
OUR PEOPLE DATA TABLES 06
OHS DATA TABLES 12
OUR COMMUNITIES DATA TABLES 14
ENVIRONMENTAL DATA TABLES 16
ECONOMIC
DATA TABLES
TOTAL CONSOLIDATED
Gold Production
Cash Operating Costs
($ per ounce produced) (5)
All-In Sustaining Costs
(AISC) ($ per ounce sold) (5)
2023 ACTUAL (1)
2024 ACTUAL (1)
1,061,060 ounces
$654 per ounce
804,778 ounces
$889 per ounce
2025 GUIDANCE
RANGE (2)(3)(4)
970,000 - 1,075,000 ounces
$835 - $895 per ounce
$1,201 per ounce
$1,465 per ounce
$1,460 - $1,520 per ounce
TABLE 1. GOLD PRODUCTION
NOTES:
(1) Gold production actual results are on a 100% basis for the Company's Fekola, Masbate and Otjikoto mines, and include attributable ounces from Calibre production.
(2) Consolidated gold production guidance is on a 100% basis for the Company's Fekola, Masbate and Otjikoto mines, and includes the budgeted contribution from Fekola Regional starting in 2025, the commencement of mining of higher-grade ore at Fekola underground, and the commencement of gold production at the Goose Project by
(3) Consolidated cash operating costs and AISC guidance (see "Non-IFRS Measures" in the Cautionary Statement) are based on the expected results for the Fekola Complex, Masbate Gold Project and Otjikoto Mine for 2025, excluding the Goose Project.
(4) Based on current assumptions.
(5) See "Non-IFRS Measures" in the Cautionary Statement.
TABLE 2. 2024 ECONOMIC VALUE GENERATED
MINE
GOLD REVENUE
GOLD SOLD
($ '000)
(OUNCES)
Fekola
951,676
404,458
Masbate
464,141
193,270
Otjikoto
486,213
203,796
Consolidated
1,902,030
801,524
TABLE 3. BOARD COMPOSITION (AS OF JANUARY 1, 2025)
GOLD REVENUE (A)
PAYMENTS TO SUPPLIERS
EMPLOYEE PAYMENTS TO WAGES AND PROVIDERS OF
BENEFITS CAPITAL (3)
(D) (E)
PAYMENTS TO GOVERNMENT (4) (F)
COMMUNITY INVESTMENTS (G)
ECONOMIC VALUE RETAINED (DISTRIBUTED) (H)=
(A)-(B)-(C)-(D)-(E)-(F)-(G)
ADJUSTED CASH OPERATING COSTS (1)
(B)
CAPITAL EXPENDITURES (2) (C)
Mines
Fekola Complex (Fekola Mine and Fekola Regional)
951,676
317,875
274,637
87,982
1,297
352,495
2,594
(85,204)
Masbate Gold Project
464,141
145,813
29,763
19,222
276
81,700
3,994 (5)
183,373
Otjikoto Mine
486,213
100,565
28,842
40,824
15,949
128,987
3,256 (6)
167,790
Other
Goose Project - Mine Construction
-
-
402,359
112,500
-
48
484
(515,391)
Gramalote Project
-
-
10,575
4,742
-
412
1,399
(17,128)
Exploration - - 52,629 - (7) -
-
-
(52,629)
Head Office
-
-
1,308
17,884
260,251
95
1,059
(280,597)
Total
1,902,030
564,253
800,113
283,154
277,773
563,737
12,786
(599,786)
NOTES:
(1) Adjusted Cash Operating Costs are "Cash Operating Costs" (see "Non-IFRS Measures") less Employee Wages and Benefits of $135 million directly related to operations, less Payments to Governments of $6 million directly related to operations, and includes the third-party Royalty of
$14 million paid by Fekola. Adjusted Cash Operating Costs are presented in the table above instead of Cash Operating Costs to avoid double-counting Employee Wages and Benefits and Payments to Governments, which are separately presented in columns D and F, respectively, in the table above.
(2) Capital Expenditures consist of sustaining and non-sustaining capital expenditures, including exploration at development projects. The "Fekola Complex" includes capital expenditures at the Fekola Mine and pre-development expenditures at the Fekola Regional property.
(3) Payments to Providers of Capital consist of corporate dividends paid to B2Gold shareholders, the 10% ordinary dividend paid by Otjikoto to its minority shareholders, interest and commitment fees with respect to the Company's corporate RCF, interest relating to the financing component contained in the Gold Prepay, and interest expense for equipment loans and leases. Head Office payments to Providers of Capital totalling $278 million includes $211 million of dividends paid to B2Gold shareholders, $38 million of interest relating to the financing component contained in the prepaid gold sales, and $10 million in RCF interest and commitment fees. In 2024, the 10% ordinary dividend paid by Otjikoto to its minority shareholders was $16 million.
(4) Payments to Governments consist of income and withholding taxes (including settlement payments for income tax assessments), production taxes, property taxes and business licences, and the priority and ordinary dividend paid by the Fekola Mine to the State of Mali, which are reported on an accrual basis (excluding government payroll taxes, VAT and import duty payments). B2Gold also publicly reports annually, on a cash basis, its specific payments to governments (including income taxes and production taxes), as per the Canadian Extractive Sector Transparency Measures Act (ESTMA).
(5) Includes $4 million for Masbate's Social Development Tax.
(6) Includes $1.5 million for Otjikoto's Nature Reserve and Agricultural Project expenditures.
(7) Employee wages and benefits of B2Gold's corporate exploration staff are mainly included under Head Office.
0.5%
22.5%
11.3%
FIGURE 1. ECONOMIC VALUE DISTRIBUTED
11.1%
MINE
DEFINITION OF
"LOCAL-COMMUNITY LEVEL"
DEFINITION OF
"LOCAL-NATIONAL LEVEL"
LOCAL-COMMUNITY LEVEL
(% OF TOTAL PURCHASING)
LOCAL-NATIONAL LEVEL(1)
(% OF TOTAL PURCHASING)
TABLE 4. 2024 LOCAL PROCUREMENT
54.5%
Payments to Suppliers
Wages & Benefits
Payments to Providers of Capital
Payments to Governments
Community Investments
Fekola, Mali(2)
Kéniéba District
Onshore purchase orders (Mali) and paid in national currency (XOF)
2%
70%
Masbate, Philippines
Masbate Province
Companies registered in the Philippines
4.5%
71%
Otjikoto, Namibia
Companies registered in municipalities within the Otjozondjupa region (Otjiwarongo, Otavi, Outjo, Tsumeb and Grootfontein)
Companies registered in Namibia, owned by Namibian citizens, and paid in Namibian dollars
2.4%
63.4%
NOTES:
(1) National-level procurement data includes community-level purchasing plus all additional in-country purchasing.
(2) Fekola procurement data includes Expansion Project-related capital expenditures.
Disclaimer
B2Gold Corp. published this content on May 27, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 27, 2025 at 19:17 UTC.