Mid-tier Canadian miner\u00a0B2Gold (TSX:BTO)(NYSE: BTG) on Friday dismissed reports indicating it was mulling the acquisition of an idled gold mine in Zimbabwe, emphasizing it was not currently interested in any mergers or acquisitions.<\/p>\n
Chief executive, Clive Johnson, reiterated B2Gold\u2019s long-term growth strategy by saying that in addition to developing its existing pipeline of\u00a0projects<\/a>, the company continued to seek global exploration\u00a0opportunities.<\/p>\n \u201cSpread the word \u2013 no M&A from us,\u201d Johnson told analysts on the miner\u2019s earnings call on May 8, when reported total gold of 230,859 ounces, about 6% above plan.\u00a0\u201cWe\u2019re not going to pay for ounces,\u201d he added.<\/p>\n Bloomberg News reported on May 23<\/a> that the Vancouver-based wanted to add Metallon Corp.\u2019s \u00a0Shamva gold mine to its portfolio. The article added that B2Gold would bid if it were exempted from a law in Zimbabwe that requires producers to sell all the metal to the country\u2019s central bank.<\/p>\n The country\u2019s two main miners \u2013\u00a0Metallon<\/a>\u00a0and RioZim \u2013 are suing the central\u00a0bank<\/a>\u00a0over its payment arrangements. Gold miners are required by law to sell their output to Fidelity Printers, an arm of the Reserve Bank, which then pays them back partly in dollars and partly in local quasi-currency that cannot be traded outside of\u00a0Zimbabwe.<\/p>\n Mining is the biggest source of foreign exchange for Zimbabwe, which has the world\u2019s largest platinum reserves after South Africa. It also known for its diamonds, though alluvial deposits are almost depleted, and it’s said to have eight out of nine \u201crare earth\u201d minerals and a processing capacity for gold, diamond and chrome.<\/p>\n The post B2Gold says not trying to buy Zimbabwe gold project<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Canadian miner said its long-term growth strategy focus on developing its existing pipeline of projects, while seeking global exploration opportunities.<\/p>\n The post B2Gold says not trying to buy Zimbabwe gold project<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2739,404,369,391,1022],"tags":[9,17,25,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1117753"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1117753"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1117753\/revisions"}],"predecessor-version":[{"id":1117801,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1117753\/revisions\/1117801"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1117753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1117753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1117753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u201cSpread the word: no M&A from us.\u201d \u2014\u00a0Chief executive, Clive Johnson.<\/q><\/p>\n