B2Gold Net Income Rises to $625 Million for First Half
The gold producer reported a 59% increase in first-half gold revenue to $1.95 billion
B2Gold Corp. (BTG), a Vancouver-based gold producer, reported net income of $625.2 million for the six months ended June 30, 2026, compared to $223.3 million for the same period in 2025. For the three months ended June 30, 2026, the company reported net income of $419.6 million, up from $160.8 million in the prior-year quarter.
Gold revenue for the first half of 2026 rose 59% to $1.95 billion, compared to $1.22 billion in the first half of 2025. The company attributed this growth to a 29% increase in the average realized gold price and a 23% increase in gold ounces sold. The increase in sales volume was driven by higher production, including contributions from the Goose Mine, and a drawdown of year-end inventory at the Fekola Mine.
For the second quarter of 2026, gold revenue was $789.4 million, a 14% increase over the $692.2 million reported in the second quarter of 2025. This quarterly growth was driven by a 14% increase in the average realized gold price, which reached $3,767 per ounce compared to $3,290 per ounce in the prior-year period. However, consolidated gold production for the second quarter of 2026 was 203,648 ounces, which was 11% lower than the second quarter of 2025.
Operating income for the first half of 2026 was $1.09 billion, compared to $538.3 million for the first half of 2025. This result included a $292.4 million gain on the sale of mining interests. Total cost of sales for the six-month period rose to $1.03 billion from $635.1 million in 2025. Production costs for the first half of 2026 were $470.0 million, up from $322.4 million in the prior-year period.
B2Gold also recognized revenue from the delivery of gold under prepaid gold sales contracts. In the second quarter of 2026, the company recognized $146 million related to the delivery of 66,192 ounces. For the first half of 2026, the company recognized $291 million from the delivery of 132,384 ounces. The company said it has now delivered all ounces into these contracts and no further ounces remain outstanding.
As of June 30, 2026, the company held $286.6 million in cash and cash equivalents, down from $380.4 million at December 31, 2025. Long-term debt decreased to $423.5 million from $564.4 million at the end of 2025.