(Ecofin Agency) - The Fekola mine in Mali, property of B2Gold has commenced production three months later than expected. The mining firm has revealed on its website, in a statement released last Tuesday that its first gold was produced on October 7, 2017, following the factory’s construction at the end of September, as announced.

B2Gold declared that commissioning is still ongoing and that the mine will enter its commercial production phase by the end of the year. It expects to produce between 50,000 and 55,000 ounces of gold in the current quarter and 400,000-410,000 ounces in 2018, which is expected to be the project’s first full production year. 

According to the firm’s mining plan, the Fekola mine should produce in its first three years of activity, 400,000 oz of gold average per year at a cost of $604/oz. In its first seven years, it should produce 374,000 oz/yr average and 345,000 oz/yr average in the first ten years.

Louis-Nino Kansoun