B2Gold adds C$90m to capex of its first mine in Canada
Toronto-listed miner B2Gold has earmarked an additional C$90-million for the construction of its first mine in Canada, bringing the Goose project’s total capital expenditure (capex) to C$890-million.
The updated budget, announced on Friday, follows a decision to accelerate underground mining development in a move that will increase average gold production in the first five years to more than 300 00 oz/y.
Underground mining is scheduled to mine and backfill the full Umwelt crown pillar earlier in the mine life, which is expected to contribute more than 150 000 oz of gold production to the life-of-mine (LoM) plan.
B2Gold acquired the Goose project in April, when it bought Sabina Gold. The previous owner’s internal capex estimate was C$740-million.
B2Gold’s in-house construction and purchasing teams have managed to identify C$70-million in savings, while design changes, such as additional equipment, steel and tankage usage, as well as inflation of fuel and consumables, have added C$130-million to the capex estimate.
To date, C$340-million has been spent on building the new mine, leaving B2Gold with C$550-million to spend before the mine goes into production in 2025.
B2Gold reports that the project is on schedule for mill completion in the first quarter of 2025, having successfully completed the 2023 winter ice road season that delivered all critical materials needed to maintain the construction schedule.
Currently, camp construction is under way, generators are being installed and construction workshops are being erected.
The Sabina team previously identified the potential for wind generation at Goose. B2Gold is progressing studies to identify the best solution and to quantify the potential operational and cost impact to the Goose project.
An LoM plan will be announced in the second half of the year.
Comments
Projects
Latest Multimedia
Latest News
Showroom
Stewarts & Lloyds today supplies steel and tube, pipe and fittings, valves, pumps, irrigation, fencing, profiling and roofing products. The cash...
VISIT SHOWROOM
Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...
VISIT SHOWROOM
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
