Responsible Mining Report
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RESPONSIBLE MINING REPORT RAISING THE BAR This report has not been externally assured. Production results and B2Gold Corp.’s (the Company’s) guidance system for environmental incidents), the ecosystem, conservation presented in this report reflect total production at the mines and biodiversity strategies and measures, reclamation, mine the Company operates on a 100% basis. Please see our Annual rehabilitation and closure planning, water and water management, Information Form dated March 19, 2019 for a discussion of our waste and tailings management (including the implementation of ownership interest in the mines B2Gold operates. a third party review requirement, with the first review being at Masbate), human rights, gender diversity, human and worker The 2018 Responsible Mining Report has been finalized as of health and safety (including grievance management mechanisms, 15 May 2019 and contains certain “forward-looking information” the development of employee engagement plans and measures and “forward-looking statements” (collectively “forward-looking to reduce incidents in high-risk areas of injury and illnesses), statements”) within the meaning of applicable securities legislation, hiring, training and performance management systems, social including projections; outlook; guidance; forecasts; estimates; and community development, planned policies, planned measures and other statements regarding future or estimated financial to address security risks at each of the company’s mines, artisanal and operational performance events, gold production and sales, and small-scale mining, reporting practices and systems and internal CAUTIONARY revenues and cash flows, capital and operating costs, including systems and practices. All statements in this presentation that projected cash operating costs and all-in sustaining costs, and address events or developments that we expect to occur in the STATEMENT budgets; statements regarding future or estimated mine life, metal future are forward-looking statements. Forward-looking statements price assumptions, ore grades or sources, and ore processing; are statements that are not historical facts and are generally, statements regarding anticipated exploration, drilling, development, although not always, identified by words such as “expect”, “plan”, construction, permitting and other activities or achievements of “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, (Refers to full B2Gold 2018 Responsible Mining B2Gold; and including, without limitation: for the year 2019, the “budget”, “estimate”, “intend” or “believe” and similar expressions Company’s projected gold production of 935,000 to 975,000 or their negative connotations, or that events or conditions “will”, Report; page references are for full report) ounces and projected cash flow being approximately $370 million “would”, “may”, “could”, “should” or “might” occur. or $410 million in 2019 (based on gold price assumptions of $1,250 or $1,300 per ounce, respectively); the expectation that, with Forward-looking statements necessarily involve assumptions, the Fekola Mine online, ongoing benefits relating to production, risks and uncertainties, certain of which are beyond B2Gold’s revenue, and cash will continue for many years; the Company control, including risks associated with or related to: the volatility maintaining its low-cost structure, focusing on growth in production, of metal prices and B2Gold’s common shares; changes in tax revenues and cashflow, and striving to remain in a strong financial laws; the dangers inherent in exploration, development and mining position while reducing debt levels; statements related to ongoing activities; the uncertainty of reserve and resource estimates; not resettlements, including the relocation of the Fadougou village, achieving production, cost or other estimates; actual production, and the timing thereof; at Otjikoto, the estimated emissions of development plans and costs differing materially from the estimates the heavy fuel oil generators, the projected operation, payback and in B2Gold’s feasibility studies; the ability to obtain and maintain reduction in fuel consumption and GHGs as a result of the solar any necessary permits, consents or authorizations required for plant, and the opportunity to trade carbon credits and export power mining activities; the current ongoing instability in Nicaragua to the national grid for revenue; statements regarding the supply and the ramifications thereof; environmental regulations or chain and local procurement, including the inclusion of the Supplier hazards and compliance with complex regulations associated with Code of Conduct in all purchasing and contracting documents mining activities; climate change and climate change regulations; with major suppliers; the installation of a system at El Limon to the ability to replace mineral reserves and identify acquisition permanently comply with environmental laws, regulations and opportunities; the unknown liabilities of companies acquired by permit requirements; the expectation that collective agreements B2Gold; the ability to successfully integrate new acquisitions; will remain in effect until 2020; the goals and projections described fluctuations in exchange rates; the availability of financing; financing in the “Going Forward” items in the “Quick View” of the report and debt activities, including potential restrictions imposed beginning on page 7 and various other statements regarding our on B2Gold’s operations as a result thereof and the ability to plans, programs and anticipated future achievements relating generate sufficient cash flows; operations in foreign and developing to audits, sustainable development (including the United Nations countries and the compliance with foreign laws, including those Sustainable Development Goals), climate change, the environment associated with operations in Mali, Namibia, the Philippines, (including potential refinements to the Company’s classification Nicaragua and Burkina Faso and including risks related to changes i | Responsible Mining Report 2018 in foreign laws and changing policies related to mining and local such statements will prove to be accurate, and actual results, ownership requirements or resource nationalization generally; performance or achievements could differ materially from those remote operations and the availability of adequate infrastructure; expressed in, or implied by, these forward-looking statements. fluctuations in price and availability of energy and other inputs Accordingly, no assurance can be given that any events anticipated necessary for mining operations; shortages or cost increases in by the forward-looking statements will transpire or occur, or if any necessary equipment, supplies and labour; regulatory, political of them do, what benefits or liabilities B2Gold will derive therefrom. and country risks, including local instability or acts of terrorism The Company’s forward-looking statements reflect current Main ConTACT for enQuiries and the effects thereof; the reliance upon contractors, third expectations regarding future events and operating performance WITH reGarDS TO our parties and joint venture partners; the lack of sole decision-making and speak only as of the date hereof, and the Company does not ResPonsiBLE MininG REPorT: authority related to Filminera Resources Corporation, which owns assume any obligation to update forward-looking statements the Masbate Project; challenges to title or surface rights; the if circumstances or management’s beliefs, expectations or Liane Kelly dependence on key personnel and the ability to attract and retain opinions should change other than as required by applicable CORPORATE SOCIAL RESPONSIBILITY ADVISOR skilled personnel; the risk of an uninsurable or uninsured loss; law. The Company’s forward-looking statements are based on B2GOLD CORP. adverse climate and weather conditions; litigation risk; competition the applicable assumptions and factors management considers E-MAIL: [email protected] with other mining companies; community support for B2Gold’s reasonable as of the date hereof, based on the information available TEL: +1 604 681-8371 operations, including risks related to strikes and the halting of such to management at such time. These assumptions and factors operations from time to time; conflicts with small-scale miners; include, but are not limited to, assumptions and factors related to CORPORATE WORKING GROUP: failures of information systems or information security threats; the Company’s ability to carry on current and future operations, the final outcome of the audit by the Philippines Department of including development and exploration activities; the timing, extent, CORPORATE SPONSOR Environment and Natural Resources in relation to the Masbate duration and economic viability of such operations, including any Bill Lytle Project; the ability to maintain adequate internal controls over mineral resources or reserves identified thereby; the accuracy EDITOR financial reporting as required by law, including Section 404 of the and reliability of estimates, projections, forecasts, studies and Liane Kelly Sarbanes-Oxley Act; compliance with anti-corruption laws, and assessments; the Company’s ability to meet or achieve estimates, sanctions or other similar measures; social media and B2Gold’s projections and forecasts; the availability and cost of inputs; the GOVERNANCE reputation; as well as other factors identified and as described price and market for outputs,