(Kitco News) - B2Gold (TSX: BTO) (NYSE: BTG) reported Monday that its total gold production in Q3 2022 was 227,016 ounces, down 27% compared to Q3 2021 and less than planned due to challenges at Fekola and Otjikoto.
The company said that the Fekola gold mine in Mali produced 129,933 ounces in Q3 2022, lower than planned due to a challenging rainy season in West Mali which delayed access to higher grade ore from Fekola Phase 6. However, Fekola to benefit from access to higher grade ore in Q4 2022, it added.
B2Gold’s Otjikoto gold mine in Namibia produced 35,068 ounces in Q3 2022, lower than planned mainly due to delays in bringing the Wolfshag Underground mine into production.
Gold production is forecast to significantly increase in the fourth quarter of 2022 when mining reaches a higher grade zone in the Otjikoto pit and stope ore production commences from the Wolfshag Underground mine.
The company also reported that its Masbate gold mine in the Philippines remains on target to achieve its previously revised 2022 guidance and produced 49,902 ounces in Q3 2022.
Importantly, according to the company’s statement, its total gold production for 2022 still anticipated to be between 990,000 to 1,050,000 ounces.
B2Gold is an international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines and numerous exploration and development projects in various countries including Mali, Colombia, Burkina Faso, Finland and Uzbekistan.
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