Key Takeaways:
- B2Gold generated $3 billion in revenue and paid $1 billion to governments in 2025
- Company maintained zero fatalities for 10th consecutive year with LTIFR of 0.09
- GHG intensity fell to 0.77 tonnes CO2e per ounce, down from 0.89 in 2024
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B2Gold publishes 10th responsible mining report with $3 billion revenue
B2Gold Corp. published its 10th annual Responsible Mining Report, showing $3 billion in revenue and 979,604 ounces of gold produced in 2025, as the Vancouver-based gold miner detailed progress on safety, emissions and community investment.
"The value we have created and the way in which we have created it — through strong governance, responsible practices, and a long-term commitment to our stakeholders," Clive Johnson, President and CEO of B2Gold, said in the report. The company also released its 2025 Climate Strategy Report, its fifth aligned with the Task Force on Climate-related Financial Disclosures.
B2Gold paid $1 billion to governments through taxes and royalties, invested $14.3 million in local communities and spent $344.8 million on employee wages and benefits. The company employed 6,327 people across all operations, with 97% of the workforce and 58% of senior management comprised of national employees. Female representation on the board reached 40%, exceeding the 30% target set in 2021.
The company maintained a zero-fatality workplace for the 10th consecutive year, with a lost time injury frequency rate of 0.09. At the Fekola Complex, workers surpassed 23 million LTI-free hours, while Masbate achieved seven years without a lost-time injury, representing over 45 million worker hours. Otjikoto recorded the lowest total recordable injury frequency rate in the mine's history.
Emissions and Renewable Energy
B2Gold's consolidated Scope 1 and 2 greenhouse gas emissions rose to an estimated 757,000 tonnes CO2e from 699,000 tonnes in 2024, driven by the addition of the Back River Gold District in Nunavut. However, emissions from its three mature operations — Fekola, Masbate and Otjikoto — fell to 673,000 tonnes CO2e from 699,000 tonnes. GHG intensity dropped to 0.77 tonnes CO2e per ounce from 0.89, as renewable energy supplied 25% of total electricity consumption, up from 22%. At Otjikoto, renewable sources accounted for approximately 79% of electricity use.
The company expanded its solar capacity at the Fekola Complex to 52 megawatts, supplying 23% of the site's electricity demand, and commissioned an 8.2 MW solar plant at Masbate expected to reduce emissions by about 8,800 tonnes annually. B2Gold targets a 30% reduction in Scope 1 and 2 emissions by 2030 against a 2021 baseline for its three main operations.
Community Investment and Indigenous Partnerships
B2Gold committed approximately C$11 million to support modular public housing units across Kitikmeot communities in Nunavut, in partnership with the Government of Nunavut and the Nunavut Housing Corporation. The company launched the Kitikmeot Social Investment Program in September 2025 and continues to collaborate with the Kitikmeot Inuit Association on initiatives spanning community wellness, youth programs and support for women and Elders.
At the Fekola Complex in Mali, B2Gold implemented the 60-hectare Bafarato Agricultural Project and continued its partnership with Global Affairs Canada on the FEMA Project, which aims to improve conditions for women and children in artisanal mining communities. In Namibia, the company's investment in the Ombili Primary School in Otjiwarongo is expected to be completed and handed over to the government by end of 2026.
B2Gold's inaugural Sustainability Strategy, issued in 2025, identified five pillars: sourcing with integrity; healthy and safe workplaces; thriving communities; nature, water and climate resilience; and responsible closure. The company plans to continue advancing these priorities in 2026, with a focus on education, vocational training, local employment, healthcare and community well-being.
This article is for informational purposes only and does not constitute investment advice.
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