B2Gold


B2Gold Corporation
Public
Traded as TSX: BTO
NYSE: BTG
S&P/TSX Composite Component
Industry Gold Mining
Founded 2007
Headquarters Vancouver, British Columbia, Canada
Key people
 Clive T. Johnson (President and Chief executive officer)
Website Official Website

B2Gold Corporation is a Canadian public gold-mining company based in Vancouver, British Columbia. It has five operating mines in Nicaragua, Namibia, Mali, and the Philippines, as well as various development and exploration properties.[1] It is listed on the Toronto Stock Exchange and the New York Stock Exchange, with a market capitalization of approximately $2.3 billion CAD as of September 2018.[2]

History

B2Gold was founded in 2007 by Clive T. Johnson and other former executives at Bema Gold, after that firm's acquisition by Kinross Gold for $3.5 billion.[3] It initially listed on the Toronto Venture Exchange, raising $100 million in its IPO.[3] In 2008, it graduated to the Toronto Stock Exchange. In 2009, it bought Central Sun Mining, thus acquiring the La Libertad mine in Nicaragua.[3] In 2012, B2Gold bought CGA Mining, an Australian gold miner, for $1.1 billion.[4] Through this deal, B2Gold acquired the Masbate mine in the Philippines, the largest gold mine in that country.[4] In 2014, B2Gold acquired Papillon Resources, owner of the Fekola property in Mali, for US$570 million.[5]

Controversy

In 2014, a long-term employee at B2Gold's Masbate mine was killed by a security guard. The following year, two security guards at the same mine were shot and killed.[6]

B2Gold's operations in Nicaragua have aroused some controversy. At its La Libertad mine (located in Santo Domingo), B2Gold has re-located a neighbourhood to exploit a gold lobe underlying it.[7] Local residents and critics of the company have complained of intimidation, and some have been arrested or beaten.[7] The company has also allegedly bribed politicians and government officials. Due to community opposition, B2Gold was prevented from developing a deposit in Rancho Grande.[7] In 2015, hundreds of miners at B2Gold's El Limon mine protested the sacking of three workers. After blockading the mine, they engaged in violent clashes with police, leading to one death and 31 injuries.[8] As a result, B2Gold temporarily closed the mine.[9]

In November 2015, B2Gold executives were in a hotel in Bamako, Mali, when the hotel was attacked by Islamist militants.[10] The executives were in the country for the ground-breaking ceremony of the Fekola mine, and were eventually saved by Malian military.

Operations

As of December 2017, B2Gold has five operating mines, with a total annual gold production of 631,000 ounces[11]

References

  1. ↑ "Terms of Service Violation". www.bloomberg.com. Retrieved 2018-09-04.
  2. ↑ "B2Gold Corp Market Cap 2012-2018 | BTG". www.macrotrends.net. Retrieved 2018-09-04.
  3. 1 2 3 "Bema Gold founder set to reap another windfall with B2Gold". Business In Vancouver. Retrieved 2018-01-24.
  4. 1 2 3 "B2Gold to buy CGA Mining in $1.1-billion deal". The Globe and Mail. 2012-09-12. Retrieved 2018-01-24.
  5. ↑ "B2Gold strikes deal to buy Papillon Resources for $570-million in stock". Financial Post. 2014-06-03. Retrieved 2018-01-24.
  6. ↑ "2 shot dead at Vancouver based B2Gold mining operation in Philippines". CBC News. Retrieved 2018-01-24.
  7. 1 2 3 "Of Miners and Land Defenders". briarpatchmagazine.com. Retrieved 2018-01-26.
  8. ↑ "Nicaragua: Fatal clashes at 'El Limón' mine". latinnews.com. Retrieved 2018-01-26.
  9. ↑ "B2Gold, Canadian Miner, Closes Nicaraguan Mine After Violence". HuffPost Canada. 2015-10-07. Retrieved 2018-01-24.
  10. ↑ "Vancouver mining executives trapped in rooms as gunmen stormed Mali hotel". CBC News. Retrieved 2018-01-24.
  11. ↑ "B2Gold - Precious Metals Exploration Company | 2018". www.b2gold.com. Retrieved 2018-01-24.
  12. ↑ "Nicaragua's gold mining industry is booming, boosting country's economy". Public Radio International. Retrieved 2018-01-24.
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