B2Gold Corporation, a leading international gold mining company, announced its exceptional performance for the fourth quarter of 2023, surpassing production targets and achieving a significant safety milestone.
Production Highlights
In Q4 2023, B2Gold achieved a total gold production of 288,665 ounces, outperforming expectations. This figure includes 18,054 ounces of attributable production from Calibre Mining Corp., a strategic partner of B2Gold.
For the full year 2023, B2Gold’s total gold production reached an impressive 1,061,060 ounces, marking the eighth consecutive year the company has met or exceeded its annual production guidance. This achievement underscores B2Gold’s commitment to operational excellence and efficiency in its mining operations.
Financial Performance
The company reported strong quarterly gold revenue of $512 million in Q4 2023, generated from the sale of 256,921 ounces at an average realized gold price of $1,993 per ounce. For the entire year, consolidated gold revenue amounted to $1,934 million, with sales of 994,060 ounces at an average realized gold price of $1,946 per ounce.
B2Gold also reaffirmed its full-year 2023 total consolidated cost guidance, with cash operating costs expected to be slightly below the range of $670 and $730 per ounce. Similarly, the total consolidated all-in-sustaining costs (AISC) are forecasted to be at the lower end of the guidance range of between $1,195 and $1,255 per ounce.
Safety Milestone
In addition to its impressive production and financial results, B2Gold celebrated a significant safety milestone at its Masbate Mine in the Philippines. On November 17, 2023, the Masbate Mine achieved over 5 years without a Lost Time Injury, surpassing 32 million hours worked. This achievement reflects B2Gold’s unwavering commitment to prioritizing the safety and well-being of its employees and contractors across all its operations.
Future Outlook
Looking ahead, B2Gold provided a preliminary production outlook for 2025, demonstrating its long-term growth strategy and commitment to sustainable value creation. The company also announced a gold prepayment arrangement, further strengthening its financial position and operational flexibility.
Conclusion
Clive T. Johnson, President & Chief Executive Officer of B2Gold, expressed his satisfaction with the company’s performance, emphasizing B2Gold’s dedication to delivering value to its shareholders, employees, and stakeholders while maintaining the highest standards of safety and environmental stewardship.
B2Gold continues to position itself as a leader in the global mining industry, driven by its operational excellence, prudent financial management, and commitment to responsible mining practices.
