B2Gold Halts Trading After Mali Grants Menankoto Permit

B2Gold Corp. requested a trading halt on its shares Friday after the government of Mali granted an exploitation permit for the Menankoto project, President and CEO Michael Cinnamond told analysts on the company's second-quarter earnings call. The announcement came just before the call started, prompting the company to pause trading pending a formal news release.

"This permit represents a very important milestone," Cinnamond said. He added that the halt was requested "to ensure that all investors receive material information at the same time."

Menankoto is the largest undeveloped gold asset in B2Gold's West African pipeline, adjacent to its Fekola mine in southwestern Mali. Mining analysts have flagged the permit as a critical catalyst for the stock, arguing that it removes a persistent overhang around project timelines and regulatory risk in the region. The grant allows B2Gold to begin detailed engineering, early-stage development work and community engagement toward a construction decision.

The company's shares had traded normally before the halt. B2Gold is listed on the Toronto Stock Exchange under the ticker BTO. The halt will lift once the permit news release is distributed, which Cinnamond said would happen later Friday morning.

Analysts from TD Cowen, Jefferies, Scotiabank, BofA Securities, RBC Capital Markets, National Bank Financial, Canaccord Genuity and CIBC Capital Markets were on the call. Several had asked about the status of Menankoto in prior quarters as the company worked through Mali's evolving mining code and permit processes. The approval removes a key source of uncertainty around B2Gold's medium-term production profile.

Fekola produced roughly 460,000 ounces of gold in 2025. Menankoto, once operational, could extend B2Gold's mine life in Mali by several years or support a standalone operation, depending on final studies. The project sits on a contiguous land package with Fekola, allowing potential shared infrastructure and processing synergies.

B2Gold also reported its second-quarter financial results on the call. The earnings release covered production, costs and cash flow for the period. The Menankoto development, however, was the dominant topic given its strategic significance for the company's West African growth strategy.