In late 2024, B2Gold reached an agreement with the Government of Mali on a framework for the Fekola Complex, with expedited approvals for Fekola Regional and Fekola Underground. By January 2025, Reuters reported that B2Gold saw Mali risks as reduced and would continue exploration spending, and in November 2025 the company confirmed that operations at Fekola continue uninterrupted with all permits and licenses in good standing.
Executive summary
Where Barrick lost operational control for a period, B2Gold used quiet diplomacy to keep the trucks moving.
- Desk
- Governance
- Stance
- Constructive
- Sources
- 3 cited
- Reading
- 5 min
Section 01
A different playbook
Section 02
What it says about the operator
The contrast with more contentious industry disputes is instructive. B2Gold's approach, engaging early, accepting a rebalanced fiscal split, and protecting production, illustrates how a mid-tier producer can convert regulatory pressure into a more stable, long-run operating base rather than a stand-off.
In late 2024, B2Gold reached an agreement with the Government of Mali on a framework for the Fekola Complex, with expedited approvals for Fekola Regional and Fekola Underground.
Data visualiser
Jurisdiction friction score, selected gold regimes
- Canada18
- Ghana34
- Tanzania47
- Uganda52
- DRC78
| Stage | Value (index) |
|---|---|
| Canada | 18 |
| Ghana | 34 |
| Tanzania | 47 |
| Uganda | 52 |
| DRC | 78 |
Composite of licence-transfer time, royalty stability and export-permit reliability. Lower is smoother.
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Sources and further reading
Access private briefings
Desk alerts for the precious metals sector
Reserve evaluations, licensing changes and market notes, sent when the file moves. No promotional mail.