B2Gold Targeting October Production Start at Fekola
As of year-end 2016, overall construction at Fekola was approximately 60% complete. A total of 4 million m3 of material had been moved, and construction of the tailings storage facility and water embankments was 100% complete. Lining of the tailings facility began in December.
Installation of mechanical components was ongoing, including the gyratory crusher, pebble crusher, conveyors, reclaim tunnel, and leach and carbon-in-pulp tanks. Commencement of mill installation began in January. Construction of the gold room and reagent storage area was well under way.
Total preproduction capital costs to develop the Fekola project are estimated at $395 million, plus $67 million of anticipated mine fleet and power generator costs, which are expected to be leased.
B2Gold has signed a €71.4 million equipment facility with Caterpillar Financial SARL for the Fekola project (funding subject to satisfaction of conditions precedent) that it expected to draw on beginning in February 2017.
At year-end 2015, the Fekola project had mineral reserves totaling 44.3 million mt, grading 2.35 g/mt gold and containing 3.3 million oz of gold.