B2Gold begins arbitration over Mali exploration permit
Canadian miner B2Gold has formally started international arbitration proceedings over the Menankoto exploration permit, which Mali has refused to extend for another year.
The permit forms part of the Anaconda area, about 20 km north of the Fekola mine, which is not affected by the dispute.
B2Gold was denied an one-year extension to the Menankoto permit in March. It then emerged that a third party, reported by newswire Reuters to be a little-known Malian company, had been granted a new exploration permit covering the perimeter of the Menankoto permit.
When the government was ousted in a military takeover in May, the new Prime Minister withdrew the exploration permit decree issued to the third party, opening the way for B2Gold to apply for the permit.
At the end of May, B2Gold submitted a reiteration of its original Menankoto permit application, without prejudice to the original application. However, on June 18, the Ministry of Mines, Energy and Water rejected the application on the basis that the application had been the subject of a court decision against Menankoto.
Menankoto had previously initiated two legal proceedings in the Malian Supreme Court.
B2Gold stressed that it “strongly believes” that Menankoto was entitled to a renewal of the permit under applicable law. Notwithstanding the arbitration, which would be heard in Paris, B2Gold said it remained willing to resolve the issue with the government.
The company has conducted extensive exploration on the Menankoto deposit for the past seven years, with an investment to date of about $27-million.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation