TORONTO, March 18, 2026, 5:35 PM EDT
B2Gold Corp. dropped close to 5% Wednesday, caught in a wave of selling across gold miners after gold prices hit their lowest in over a month. The Federal Reserve kept rates unchanged and issued fresh warnings about inflation. Shares trading in the U.S. slipped 4.96% to $4.60. Reuters
This shift carries weight for B2Gold, which set its 2026 all-in sustaining cost forecast using a realized gold price of $5,000 an ounce—spot dropped below that mark on Wednesday. The company is still navigating a year of intentionally reduced output, with a bulk of Goose mine’s production pushed to the back half. Reuters
The selloff hit nearly every corner of the sector. Kinross Gold dropped 6.6%, Agnico Eagle Mines shed 6.4%, and Newmont gave up 4.1%. Toronto’s materials index, home to the metal miners, was down 5.6%. Reuters
Spot gold slumped 2.9% to $4,860.21 an ounce following the Fed’s call. Tai Wong, independent metals trader, noted Powell made it clear that “the Fed is on the sidelines.” Gold dipping below $5,000, he added, could be “technically troubling.” Reuters
B2Gold turned in a record $3.06 billion in 2025 revenue as of Feb. 18. Looking ahead, the miner expects 2026 gold output between 820,000 and 970,000 ounces, down from last year’s 979,604 ounces. Management attributed the decrease mostly to lower production at Otjikoto, plus reduced volumes at Fekola during ongoing stripping, with some of that pressure offset by a lift from Goose. B2Gold
The company set its 2026 cash operating cost range at $1,155 to $1,280 an ounce, while projecting all-in sustaining costs between $2,400 and $2,580. All-in sustaining cost—an industry metric—captures both operating outlays and capital spending needed to maintain production. B2Gold
Goose is still the wild card. B2Gold is looking for 170,000 to 230,000 ounces out of its Nunavut mine this year, but flagged that roughly 65% of those ounces will land in the back half as it tweaks its crushing setup, with a mobile unit staying on the job through much of 2026. B2Gold
Sentiment has shifted to caution, with central banks warning that elevated energy prices might stoke inflation. Angelo Kourkafas, senior global investment strategist at Edward Jones, pointed to the uncertainty raised by the Bank of Canada and the Fed as “worrying the markets.” Over at Kitco Metals, Jim Wyckoff called gold’s performance this week “a balancing act.” Reuters
B2Gold is preparing for a change at the top. On Feb. 23, the company announced that founder Clive Johnson will step aside as CEO on June 4. Stepping in: CFO Mike Cinnamond, who called it an “honored” opportunity to lead. The miner, with operations in Canada, Mali, Namibia, and the Philippines, will pay out its U.S. $0.02 quarterly dividend this Thursday. B2Gold
