01:36 PM EDT, 08/07/2026 (MT Newswires) -- B2Gold ( BTG ) has been granted an exploitation permit for its Menankoto project in Mali, the company said on Friday.

Its shares surged 23% to C$7.04, the highest since May 14, on the Toronto Stock Exchange.

The newest permit, together with the Dandoko exploration permit, make up Fekola Regional, which is a key near-term production growth driver for B2Gold ( BTG ), a statement said. B2Gold ( BTG ) said it had been in talks with the Mali government since July 2025.

The Fekola Complex consists of the Fekola Mine, owned 80% by B2Gold ( BTG ) and 20% by Mali, and Fekola Regional (Menankoto exploitation Permit and Dandoko permit), which will be owned 65% by B2Gold ( BTG ) and 35% by the state of Mali.

With the Menankoto permit in hand, mining pre-stripping activities and finalization of a tolling agreement will begin. Fekola Regional is expected to ramp up operations through the end of 2027 and produce in excess of 150,000 ounces per year from 2028 through the mid-2030's.

B2 Gold late Thursday reported second-quarter adjusted earnings down to $0.03 per share, from $0.12 per share for the prior year period.

Analysts polled by FactSet had expected adjusted earnings of $0.07 per share.

B2Gold ( BTG ) narrowed its gold production guidance to between 820,000 and 920,000 ounces, from the previous 820,000 and 970,000 ounces.

The company will pay a quarterly cash dividend of $0.02 per share, on Sept. 23, to shareholders of record on Sept. 10.

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