MALI has granted B2Gold a crucial mining permit, paving the way for a large boost in gold output from its Fekola complex.
The Menankoto permit was issued on Friday, 7 August, after more than a year of talks with the state, the company said in a statement eariler this week.
Together with the Dandoko permit, Menankoto forms Fekola Regional, about 20km from the main Fekola mine. Fekola Regional will be 65% owned by B2Gold and 35% by Mali. The main Fekola mine is held 80% by B2Gold and 20% by the state.
Menankoto falls under Mali’s 2023 Mining Code, while the main mine stays under the 2012 code.
B2Gold was among the first miners to reach terms with Mali over its new mining code, signing a deal in September 2024.
Resolute Mining followed after its then CEO, Terry Holohan, and two colleagues were detained for 10 days.
Barrick held out, sparking a stand-off that shut Loulo-Gounkoto and put the mine under state-appointed management.
Barrick settled with Mali in November 2025, regaining control of Loulo-Gounkoto and agreeing to drop its arbitration claims. Mali renewed the Loulo mining licence for 10 years in February.
B2Gold said in its statement that output from Fekola Regional is due to ramp up through the end of 2027. More than 150,000 ounces of gold a year is then forecast from 2028 to the mid-2030s.
The life of the Fekola complex is expected to run into the late 2030s.
B2Gold said it has spent more than $2bn in Mali since 2014, while more than 3 300 workers are employed of which around 98% are Malian.
