B2Gold (BTG) Initiates Hybrid Solar Battery System in Fekola Mine – Yahoo Finance

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B2 Gold Corp. BTG has put the world's largest off-grid solar battery hybrid system into operation in the Fekola gold mine in Mali to reduce CO2 emissions by 39,000 tons. In particular, this solar system should save 13.1 million liters of heavy oil annually.

In July 2019, B2Gold approved the construction of the system after completion of the feasibility study by a German-based solar project consultancy Suntrace and its partner BayWa.

This hybrid battery system combines solar energy with conventional energy generation and battery storage and ensures an uninterrupted power supply day and night in off-grid areas.

In fact, Fekola’s six heavy fuel oil generators with their new 30 MW solar system are shut down during the day, while energy production from the remaining three generators can also be reduced. The 15.4 MWh battery storage compensates for fluctuations in energy generation and ensures smooth operation, so that during the day up to 75% of the mine’s electricity needs can be covered by renewable energies.

In 2020, the Fekola Mine had a record annual gold production of 622,518 ounces, beating the high end of its managed range (between 590,000 and 620,000 ounces). The expansion of the Fekola mine to 7.5 million tons per year (Mtpa) from a base rate of 6 Mtpa annually will help increase gold production from the mine. This mine is expected to produce between 530,000 and 560,000 gold ounces in 2021. Fekola gold production is expected to be lower in 2021 as waste mining and lower ore grades than Stages 5 and 6 of the Fekola pit are expected to be developed in the first half of the year.

B2Gold forecasts gold production between 970,000 ounces and 1,030,000 ounces for the current year. This represents a 5% decrease from 2020 due to the lower expected production of Fekola in 2021.

Value for money

Over the past year, B2Gold stocks are up 5% compared to an industry growth of 3.9%.

Zacks Rank & Stocks to be considered

The story goes on

B2Gold currently has a Zacks Rank 3 (Hold).

Some better-ranked stocks in the materials sector are there Impala Platinum Holdings Limited IMPUY, Fortescue Metals Group Limited FSUGY and BHP Group BHP, everyone currently has a Zacks Rank 1 (Strong Buy). You can see The full list of today's Zacks # 1 Rank stocks can be found here.

Impala Platinum has an expected earnings growth rate of 195.9% for the current fiscal year. The company's shares are up 84% over the past year.

Fortescue has a projected earnings growth rate of 84.3% for the current fiscal year. The company's shares are up 182% in one year.

The BHP Group has an estimated profit growth rate of 77.6% for the current fiscal year. The company's shares rose 83% over the past year.

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