By: Ecofin agency

B2Gold Corp said on Thursday its Fekola gold mine in Mali posted revenues of USD 631.9 million in the first half of 2025, a 19% increase from USD 526.9 million a year earlier, despite weaker production. The gain was driven by a 41% rise in the average gold selling price to USD 3,113 per ounce, compared with USD 2,204 per ounce in H1 2024.

Gold sales volumes fell 15%, while mine output slipped 4% year-on-year to 220,166 ounces. The company’s fiscal year 2024 had seen a sharper 33% drop in Fekola’s production, weighing on earnings despite a 21% rise in realized gold prices.

Gold prices have risen about 30% since January, mirroring 2024’s growth. Spot prices are currently around USD 3,330/oz, with Goldman Sachs forecasting USD 3,700/oz by year-end. B2Gold expects to produce at least 515,000 ounces from Fekola in 2025, up from 392,946 ounces in 2024, aided by the new Fekola Regional satellite deposit.

The Malian government holds a 20% stake in the mine, with the remaining 80% owned by B2Gold.