B2Gold CEO Clive Johnson set to retire in June, 2026
B2Gold Corp. [BTO-TSX, BTG-NYSE American, B2G-NSX] said Clive Johnson has elected to retire from his role as President, CEO and director of B2 at the company’s annual meeting in June 2026.
The Board of Directors has named Mike Cinnamond, Senior Vice-President, Finance, and Chief Financial Officer, as Johnson’s successor in the President and CEO role. He will also replace Johnson on the board of directors.
Michael McDonald will succeed Cinnamond as Chief Financial Officer effective June 4, 2026. Currently Vice-President, Investor Relations, Corporate Development and Treasury at B2Gold, McDonald has 20 years of experience in finance, corporate development and capital markets.
Johnson has served as President and CEO since the company’s founding in 2007. Over a 19-year period he has overseen a transition that has seen the company grow from being a junior explorer to international gold producer with four operating mines, producing approximately 1.0 million ounces of gold annually. In recognition of his achievements, he will be named Chair Emeritus of B2Gold, ensuring his continued connection with the company and his availability to the board and senior management.
B2Gold shares rose 5.3% or 39 cents to $7.76. The shares trade in a 52-week range of $8.34 and $3.61.
B2Gold is an international senior gold producer, based in Vancouver. The company has operating gold mines in Canada, Mali, Namibia and the Philippines. The company reported consolidated gold production of 994,060 ounces in 2025, including pre-commercial ounces sold from the Goose mine in Nunavut. The company is guiding investors to anticipate consolidated production this year of between 820,000 and 970,000 ounces.
The expected decrease in production in 2026 relative to 2025 is predominantly due to a step-down in production at the Otijkoto Mine in Namibia following the completion of mining at the Otijkoto pit and expected lower production at the Fekola Complex (Fekola Mine and Fekola Regional) in Mali as stripping of Phase 8.0 for the Fekola Pit continues, partially offset by the continued ramp up of the Goose Mine.
Consolidated production in 2027 is expected to increase back to 2025 levels, including expected steady state production at the Goose Mine for the full year.
Last year, the company announced positive results of a feasibility study on its 100%-owned Gramalote gold project in Colombia.
The estimated construction capital cost of US$740 million, includes approximately US$73 million for mining equipment and US$81 million for contingency.
The study envisages an open pit gold mine with an 11-year mine life (mill processing over 13 years), producing an average of 177,000 ounces annually at an all-sustaining cost of US$985 an ounce.
Life of project gold production is estimated at 2.3 million ounces with an average gold recovery of 95.7% from conventional milling, flotation and cyanide leach of the flotation concentrate.
Average annual gold production for the first five years is expected to be 227,000 ounces, and 177,000 ounces over the life of the project.