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Sector
Basic Materials
Size
Large Cap
Market Cap £5.48bn
Enterprise Value £5.43bn
Revenue £1.10bn
Position in Universe 947th / 6440

UPDATE 1-Miner B2Gold says Mali border shutdown to be short-lived after coup

Thu 20th August, 2020 8:24pm
(Adds details, CEO quote)
    By Jeff Lewis
    TORONTO, Aug 20 (Reuters) - Miner B2Gold Corp  BTO.TO 
expects the shutdown of land and air borders in Mali to last
"days or weeks, not months," its chief executive said on
Thursday, after Tuesday's overthrow of President Ibrahim
Boubacar Keita.
    "The intention is to re-open as soon as possible," B2Gold
CEO Clive Johnson told Reuters on Thursday, citing discussions
with officials in government. 
    Keita resigned on Tuesday and dissolved parliament hours
after soldiers detained him at gunpoint and seized power in a
coup.  urn:newsml:reuters.com:*:nL8N2FK2HJ  urn:newsml:reuters.com:*:nL8N2FL15S
    Leaders of the 15-nation Economic Community of West African
States (ECOWAS) convened over the crisis on Thursday, after it
suspended Mali, shut off borders and halted financial flows.
    The bloc was planning to send a delegation of presidents
including the leaders of Niger, Senegal and Ghana to Mali's
capital, Bamako, to seek a resolution to the crisis, a regional
diplomat and a senior official told Reuters.  urn:newsml:reuters.com:*:nL8N2FM2YE
    Border closures threaten to limit miners' ability to export
their gold, which is typically flown out of Mali to be refined.
    B2Gold and other miners said on Wednesday they were
operating as usual.  urn:newsml:reuters.com:*:nL8N2FL291  
    B2Gold's flagship Fekola mine produced 147,424 ounces of
gold in the second quarter.
    Johnson reiterated the miner had sufficient supplies to
maintain activities through the end of the third quarter and
beyond and could tap ore stockpiles if needed.
   “Because of COVID actually we have even larger stockpiles
than we normally would have, so we’re in very good shape," he
said. 
     

 (Reporting by Jeff Lewis
Editing by Marguerita Choy)
 ((Jeff.Lewis@thomsonreuters.com; +1 647 200 7236))
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