Despite the challenges of the Covid-19 pandemic, Canada-headquartered gold miner B2Bold had a remarkable year of growth in 2020, achieving its twelfth consecutive year of record gold production, record revenue and net income doubling.
The miner, which operates in Africa, generated net income of $672-million in 2020, compared with $316-million in 2019.
Adjusted net income rose to $515-million, or $0.49 a share, compared with $219-million, or $0.22 a share, in 2019.
The company's total gold production for 2020 was 1.04-million ounces, which was at the upper end of its guidance of between one-million and 1.06-million ounces. The significant increase in gold production was driven by the Fekola mine, in Mali, which produced a yearly record of 622 518 oz.
All-in sustaining cash costs (AISC) were $788/oz, compared with $862/oz in 2019.
B2Gold’s total gold production is forecast to be between 970 000 oz and 1.03-million ounces, including 50 000 oz to 60 000 oz projected from Calibre, in 2021, at an AISC of between $870/oz and $910/oz.
B2Gold's board declared a cash dividend for the first quarter of 2021 of $0.04 a share.