The story
B2Gold was founded in 2007 by Clive T. Johnson and other former executives at Bema Gold which was in the process of being acquired by Kinross Gold for $3.5 billion. The terms of the deal allowed the newly created B2Gold to take Bema Gold's exploration properties in Colombia and Russia. Their initial public offering in December 2007 on the Toronto Venture Exchange raised $100 million for exploration and valuation purposes. In 2008, the exploration company graduated to the Toronto Stock Exchange.
In 2009, the B2Gold became a gold producer with its acquisition of the TSX-listed, and financially distressed company, Central Sun Mining. This all-stock deal, estimated to be valued at $67 million, gave B2Gold its first two mines, El Limon and La Libertad both in Nicaragua. The company produced 21,200 ounces of gold in 2009 up to 157,885 ounces in 2012.
B2Gold added a third mine, in 2012, with its merger with ASX-listed CGA Mining. The deal gave B2Gold the Masbate mine in the Philippines and CGA Mining shareholders received 38% of the combined company. Around this time, in 2013, B2Gold also acquired Volta Resources in an all-stock deal worth US$63 million for its Burkina Faso exploration properties, and lost an exploration property in Rancho Grande (El Pavón), Nicaragua, due to community opposition. With three operating mines, B2Gold produced 366,000 ounces of gold in 2013 and 391,000 ounces in 2014.
B2Gold's fourth mine came from the development of the Otjikoto project, acquired in its 2011 merger with TSX-listed Auryx Gold which gave Auryx shareholders 10% of the combined company. the Otjikoto mine in Namibia achieved commercial production in February 2015. With the four mines, the company produced 493,265 ounces of gold in 2015 and 550,423 ounces in 2016.
Their fifth mine was developed from the Fekola property in Mali acquired with B2Gold's merger with ASX-listed Papillon Resources. The 2014 deal, with an estimated value of US$570 million, gave Papillon shareholders 26% of the combined company,
and resulted in the Fekola mine beginning production in November 2017. The five mines resulted in the company producing approximately 960,000 ounces of gold in both 2018 and 2019. The company sold its assets in Nicaragua to Vancouver-based mineral exploration company Calibre Mining.
In May 2022, it was announced B2Gold had acquired the Australia-based gold exploration company, Oklo Resources for US$64 million.
In April 2023, B2Gold acquired all of the issued and outstanding common shares of Sabina Gold & Silver Corp., resulting in the acquisition of Sabina's 100% owned Back River Gold District located in Nunavut, Canada. The Back River Gold District consists of five mineral claims blocks along an 80-kilometre belt. It's most advanced project, Goose Mine, completed construction and achieved commercial production in October 2025. B2Gold’s management team has strong northern construction expertise and experience to develop the significant gold resource endowment at the Back River Gold District into a large, long life mining complex.
From Wikipedia’s article on B2Gold, shared under CC BY-SA 4.0.8