B2Gold Completes Fekola Solar Plant Expansion to Cut Fuel Costs

Core Viewpoint - B2Gold Corp. has successfully completed the Phase 2 expansion of the Fekola Solar Plant in Mali, which will enhance sustainability by reducing emissions and fuel consumption [1][4]. Group 1: Expansion Details - The Phase 2 expansion began in June 2023, with construction activities including land clearing and road construction, and was completed with the installation of 46,200 additional solar panels, bringing the total to 142,912 panels [2][3]. - The expansion will add 22 megawatts of solar capacity and 12.7 megawatt-hours of battery storage, leading to an annual reduction of 63,000 tons in carbon-dioxide-equivalent emissions [4][5]. Group 2: Economic and Employment Impact - The construction of the solar plant expansion generated over 120 local jobs, and 13 individuals were trained and employed for maintenance post-completion [3]. - The reduction in heavy fuel oil consumption is expected to be 20 million liters per year, which is anticipated to significantly lower operational costs [4]. Group 3: Financial Performance - In Q4 2024, B2Gold reported adjusted earnings per share of 1 cent, missing the Zacks Consensus Estimate of 6 cents, marking an 86% decline year over year due to decreased gold ounces sold [6]. - The company generated revenues of $499.8 million in Q4 2024, a 2.4% decrease year over year, with a 33.5% increase in average realized gold prices offset by a 26.9% decline in gold ounces sold [7]. Group 4: Stock Performance - B2Gold's shares have increased by 34.3% over the past year, while the industry has seen a growth of 48.7% [8].