B2Gold Corp. (TSX:BTO) (NYSE AMERICAN:BTG) (NSX:B2G) ("B2Gold" or
the "Company") is pleased to announce that on May 29, 2018, the
Company celebrated the official opening of the B2Gold Solar Plant
at its Otjikoto Mine in Namibia.
The opening of the new solar plant is in-keeping
with B2Gold’s ongoing commitment to responsible mining and
promoting green energy solutions at its five operating gold mines
worldwide. The Otjikoto Solar Plant is one of the first
fully-autonomous hybrid plants in the world and will allow the
Company to significantly reduce fuel consumption and greenhouse gas
emissions from the site’s current 24-megawatt (“MW”) heavy fuel oil
(“HFO”) power plant. Changing the power plant to an HFO solar
hybrid plant is expected to reduce Otjikoto’s HFO consumption by
approximately 2.3 million litres and reduce associated power
generation fuel costs by approximately 10% in 2018.
In remarks at the official opening of the solar
plant, Namibia’s Minister of Mines and Energy, the Honourable Tom
Alweendo, said that the plant “will deliver positive economic,
environmental and social impacts that are likely to outlive the
life of mine. I am also informed that this solar plant will be one
of the largest installations of its kind in Namibia. It will serve
as a sustainable power solution as B2Gold works to improve economic
returns, reduce impacts on the environment and could potentially be
a funding source for community development.”
The development of the Otjikoto solar facility
reflects B2Gold’s commitment to environmental stewardship and the
Company’s ongoing goal of reducing its dependence on fossil fuels
in favour of cleaner, less expensive power sources.
Driven by this goal, B2Gold embarked upon a
detailed financial feasibility study early in 2016 to determine the
financial viability of adding a 7 MW solar plant to Otjikoto’s
energy portfolio. Based on the results of this study, the project
was approved in October 2016 with an estimated project cost of $8.5
million. Otjikoto’s solar plant commenced full commissioning in
early April 2018, on schedule and on budget.
Bill Lytle, Senior Vice President, Operations,
said that a key mandate for B2Gold is to always leave the region
and communities where B2Gold operates better off as a result of
B2Gold’s investment. “B2Gold firmly believes that a
successfully-run, responsible mining company can truly add value
and leave a positive legacy to the local communities and
environment by generating sustainable socio-economic and
environmental benefits.”
B2Gold is considering whether a further
innovative use of the solar plant could be as an income-generating
asset after the mine closes. Funds generated by this asset could be
used to support ongoing Corporate Social Responsibility activities
in the region long after the mine has shut down.
The Otjikoto Solar Plant project was championed
by Mark Dawe, B2Gold’s Namibia Country Manager, and his management
team.
About B2Gold Corp.
Headquartered in Vancouver, Canada, B2Gold Corp.
is the world's new senior gold producer. Founded in 2007, today,
B2Gold has five operating gold mines, and numerous exploration and
development projects in various countries including Nicaragua, the
Philippines, Namibia, Mali, Burkina Faso, Colombia and Finland.
With the large, low-cost Fekola Mine now in
production, B2Gold is well positioned in achieving transformational
growth. In 2018, with the planned first full year of production
from the Fekola Mine, consolidated gold production is forecast to
be between 910,000 and 950,000 ounces. This represents an increase
in annual consolidated gold production of approximately 300,000
ounces for the Company in 2018 versus 2017.
ON BEHALF OF B2GOLD CORP.
“Bill
Lytle”
“Mark Dawe”Senior Vice President, Operations
Country Manager,
Namibia & Managing
Director
For more information on B2Gold, please visit the Company website at
www.b2gold.com or contact:
Ian MacLean
Vice President, Investor Relations
604-681-8371
imaclean@b2gold.com
Katie BromleyManager, Investor Relations &
Public Relations604-681-8371kbromley@b2gold.com
The Toronto Stock Exchange and the NYSE American
LLC neither approve nor disapprove the information contained in
this news release.
Production forecasts presented in this news
release reflect the total production at the mines the Company
operates on a 100% basis.
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 regarding anticipated exploration, operations,
production and other activities and achievements of the Company,
including but not limited to: the anticipated operational
results of the solar plant, including its ability to reduce fuel
consumption and costs; the future use of the solar plant as an
income generating asset after the mine closes and the potential use
of any such income; consolidated 2018 gold production forecast
being between 910,000 and 950,000 ounces of gold and such
representing an increase in annual consolidated gold production of
approximately 300,000 ounces for the Company in 2018 versus 2017;
and B2Gold being well positioned in achieving transformational
growth in 2018. 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 risks associated with the volatility of
metal prices and the Company’s common shares; risks and dangers
inherent in exploration, development and mining activities;
uncertainty of reserve and resource estimates; risk of not
achieving production, cost or other estimates; risk that actual
production, development plans and costs differ materially from the
estimates in the Company’s feasibility studies; the ability to
obtain and maintain any necessary permits, consents or
authorizations required for mining activities; uncertainty about
the outcome of negotiations with the Government of Mali; 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; ability to
successfully integrate new acquisitions; fluctuations in exchange
rates; availability of financing; risks related to financing and
debt, including potential restrictions imposed on the Company’s
operations as a result thereof and the ability to generate
sufficient cash flows; risks related to operations in foreign and
developing countries and compliance with foreign laws, including
those associated with operations Mali, Namibia, the Philippine,
Nicaragua and Burkina Faso and including risks related to changes
in foreign laws and changing policies related to mining and local
ownership requirements; risks related to remote operations and the
availability of adequate infrastructure, fluctuations in price and
availability of energy and other inputs necessary for mining
operations; shortages or cost increases in necessary equipment,
supplies and labour; regulatory, political and country risks
including local instability or acts of terrorism and the effects
thereof; risks related to reliance upon contractors, third parties
and joint venture partners; risks related to lack of sole
decision-making authority related to Filminera Resources
Corporation, which owns the Masbate Project; challenges to title or
surface rights; dependence on key personnel and ability to attract
and retain skilled personnel; the risk of an uninsurable or
uninsured loss; adverse climate and weather conditions; litigation
risk; competition with other mining companies; changes in tax laws;
community support for the Company’s operations including risks
related to strikes and the halting of such operations from time to
time; risks related to conflict with small scale miners; risks
related to failures of information systems or information security
threats; the final outcome of the audit by the DENR in relation to
the Masbate Project; ability to maintain adequate internal control
over financial reporting as required by law, including Section 404
of the Sarbanes-Oxley Act; risks related to compliance with
anti-corruption laws; 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, the Company’s current
Form 40-F Annual Report 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 “Websites”). 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. The
Company's forward-looking statements are based on the applicable
assumptions and factors management considers reasonable as of the
date hereof, based on the information available to management at
such time. These assumptions and factors include, but are not
limited to, assumptions and factors related to the Company's
ability to carry on current and future operations, including
development and exploration activities; the timing, extent,
duration and economic viability of such operations, including any
mineral resources or reserves identified thereby; the accuracy and
reliability of estimates, projections, forecasts, studies and
assessments; the Company’s ability to meet or achieve estimates,
projections and forecasts; the availability and cost of inputs; the
price and market for outputs, including gold; the timely receipt of
necessary approvals or permits; the ability to meet current and
future obligations; the ability to obtain timely financing on
reasonable terms when required; the current and future social,
economic and political conditions; and other assumptions and
factors generally associated with the mining industry. For the
reasons set forth above, undue reliance should not be placed on
forward-looking statements.
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