B2Gold: Notice of Philippines DENR (“Department of Environment and Natural Resources”) Audit Results
February 02 2017 - 8:26AM
B2Gold Corp. (TSX:BTO) (NYSE MKT:BTG) (NSX:B2G) (“B2Gold” or the
“Company”) reports that the DENR has announced the results of the
Philippines Mine Audit. Masbate Gold Project (“MGP”) is not
among the mines to be suspended or closed. MGP will continue
to work closely with the DENR to maintain compliance with
regulations and continue to promote improved quality of life in the
communities where we operate. Operations remain as normal at the
mine.
In 2016, the DENR conducted two mine audits at
the Masbate Gold Project: the first in August and the second in
September. Those findings were then provided for comment to the two
companies that operate the Masbate Gold Project on October 11,
2016. Responses from Filminera Resource Corporation and
Philippine Gold Processing and Refining Corp. were independently
submitted back to the government on October 21, 2016 for
review.
Since the initial release of the Mine Audit
findings in September of 2016, MGP has worked closely with the DENR
to resolve the issues raised in the audit. Beyond the audit
findings, MGP and the DENR both recognize that community
relationships and community development continue to be
priorities. MGP will maintain its leadership role to improve
its ongoing programs by working with local communities.
Masbate Gold Project operations are ISO 14001
compliant which demonstrates that our environmental systems meet
Philippine requirements. MGP remains committed to industry best
practices and to ensure that the Companies continue to comply with
the terms of the ECC (“Environmental Compliance Certificate”) and
other mine and environmental regulations, and fulfill their
obligations to the DENR. Masbate Gold Project will promote
continued community development while providing a modern, safe work
environment for our workforce. MGP has an outstanding Safety
Performance record that today stands at more than 478 days of
accident-free operation.
MGP is the largest producing gold mine in the
Philippines. The operation is the largest employer on the island
employing more than 1900 Filipino workers and contractors.
B2Gold will continue to provide updates of MGP’s
progress with the DENR.
On Behalf of B2GOLD CORP.
“Clive T.
Johnson”President and Chief Executive
Officer
For more information on B2Gold please visit the
Company website at www.b2gold.com or contact:
Ian MacLean |
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Katie Bromley |
Vice President,
Investor Relations |
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Manager, Investor
Relations & Public Relations |
604-681-8371 |
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604-681-8371 |
IMacLean@b2gold.com |
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kbromley@b2gold.com |
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The Toronto Stock Exchange neither approves nor
disapproves the information contained in this news
release.
This news release includes certain
“forward-looking information” and “forward-looking statements”
(collectively, “forward-looking statements”) within the meaning of
applicable Canadian and United States securities legislation,
including statements with respect to future events or future
performance; the expected resolution of the issues raised in the
DENR Audit Report and the final outcome of the DENR Audit; the
Company's environmental management systems meeting Philippine
requirements and our operations continuing uninterrupted. All
statements in this news release that address events or developments
that we expect to occur in the future are forward-looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, although not always, identified
by words such as “expect”, “plan”, “anticipate”, “project”,
“target”, “potential”, “schedule”, “forecast”, “budget”,
“estimate”, “intend” or “believe” and similar expressions or their
negative connotations, or that events or conditions “will”,
“would”, “may”, “could”, “should” or “might” occur. All such
forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made.
Forward-looking statements necessarily involve assumptions, risks
and uncertainties, certain of which are beyond B2Gold’s control,
including the uncertainty whether the Company's response to the
issues raised in the Audit Report will be satisfactory to the DENR
and whether the issues raised in the DENR Audit Report will be
resolved in a timely manner; the uncertainty of estimates regarding
the costs of construction and the timing and amount of production;
risks associated with the volatility of metal prices and
currencies; risks and dangers inherent in exploration, development
and mining activities; uncertainty of reserve and resource
estimates; financing risks; risks related to hedging activities;
the ability to obtain and maintain any necessary permits, consents
or authorizations required for mining activities; shortages or cost
increases in necessary equipment, supplies and labour; regulatory,
political and country risks; litigation risk; risks related to
environmental regulations or hazards and compliance with complex
regulations associated with mining activities; the ability to
replace mineral reserves and identify acquisition opportunities;
unknown liabilities of companies acquired by B2Gold; fluctuations
in exchange rates; availability of financing and financing risks;
risks related to operations in foreign countries and compliance
with foreign laws; risks related to remote operations and the
availability adequate infrastructure; fluctuations in price and
availability of energy and other inputs necessary for mining
operations; risks related to reliance upon contractors, third
parties and joint venture partners; challenges to title or surface
rights; dependence on key personnel; the risk of an uninsurable or
uninsured loss; changes in tax laws; community support for our
operations including risks related to strikes and the halting of
such operations from time to time; as well as other factors
identified and as described in more detail under the heading “Risk
Factors” in B2Gold’s most recent Annual Information Form and
B2Gold’s other filings with Canadian securities regulators and the
U.S. Securities and Exchange Commission (the “SEC”), which may be
viewed at www.sedar.com and www.sec.gov, respectively. The list is
not exhaustive of the factors that may affect the Company’s
forward-looking statements. There can be no assurance that such
statements will prove to be accurate, and actual results,
performance or achievements could differ materially from those
expressed in, or implied by, these forward-looking statements.
Accordingly, no assurance can be given that any events anticipated
by the forward-looking statements will transpire or occur, or if
any of them do, what benefits or liabilities B2Gold will derive
therefrom. The Company’s forward looking statements reflect current
expectations regarding future events and operating performance and
speak only as of the date hereof and the Company does not assume
any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations or opinions
should change other than as required by applicable law. For the
reasons set forth above, you should not place undue reliance on
forward-looking statements.