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Sector
Basic Materials
Size
Large Cap
Market Cap £5.85bn
Enterprise Value £5.92bn
Revenue £970.1m
Position in Universe 886th / 6368

B2Gold temporarily suspends Philippine gold mining due to fuel shortage

Mon 23rd March, 2020 12:10pm
LONDON, March 23 (Reuters) - B2Gold  BTO.TO  has temporarily
suspended mining at its Masbate mine in the Philippines because
government measures to contain the coronavirus outbreak had
disrupted fuel supplies.
    "The temporary fuel shortage is due to new regulations
imposed by the Philippine Government related to the COVID-19
virus to ensure that all materials, including fuel, arriving on
Masbate island via transport are not contaminated with
COVID-19," the company said on Monday.   urn:newsml:reuters.com:*:nL4N2BG1HE
    Miners globally have been stocking up on supplies of
essential materials because of the coronavirus epidemic. Some
have announced suspensions in production following
government-imposed restrictions on movement.
 urn:newsml:reuters.com:*:nL8N2BC7O0 urn:newsml:reuters.com:*:nL4N2B935Q
    The Masbate mine will continue milling while mining is
suspended, B2Gold said in a statement. It also said it would
suspend drilling at its Colombian project.  
    At its mines in Mali and Namibia, B2Gold said it had
stockpiled significant reserves of supplies to make it through
the second quarter without a change to their production
guidance.
    The company, which is listed in Toronto, said it still
expected to meet or exceed its production target for the first
quarter of this year. 
    In 2020, B2Gold expects to produce at least 1 million ounces
of gold.  

 (Reporting by Zandi Shabalala;
Editing by Alexander Smith)
 ((zandi.shabalala@tr.com; +44 207 542 5937;))
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