Gramalote was put on hold in August, as preliminary results from an optimized feasibility study suggested the project did not meet the JV’s investment thresholds for mine development.
Vancouver-based B2Gold said that now, with the feasibility study completed, it was clear that the disposal of Gramalote was the best option for both companies.
Gramalote was B2Gold’s first project when it was an exploration company starting out. In 2015, it received the first environmental license awarded in Colombia in 35 years.
The permit gave it three years to work through social aspects related to the open pit project, including relocating artisanal miners and some nearby residents.
During that time, Gramalote became the centre of a mining rights dispute with Canada’s Zonte Metals, which remains active.
The project, B2Gold highlighted, continues to count with the support of the government as well as from local communities.
