Latest news with #ESG
Daily Tribune
3 hours ago
- Business
- Daily Tribune
NBB Named Best Bank in Bahrain at Euromoney Awards for Excellence 2025
And Additionally Recognised for Outstanding Leadership in ESG and Corporate Responsibility The National Bank of Bahrain (NBB) has been named Best Bank in Bahrain at the 2025 Euromoney Awards for Excellence for its standout financial performance, digital transformation initiatives and customer centric approach throughout the past year. The Bank was also honoured as Best Bank for ESG and Best Bank for Corporate Responsibility, reaffirming its role as a national leader in responsible banking and meaningful community investments. Commenting on the occasion, Usman Ahmed, Group Chief Executive Officer of NBB stated, 'The recognition as Bahrain's Best Bank is the result of a focused strategy, with execution rooted in robust governance, innovation-led banking, and a pledge to contribute to national development. We continue to build on our legacy by enhancing client offerings through digitalisation, integrating sustainability into our business at every level and expanding regionally. These awards reflect the collective efforts of our team, who remain passionate about pursuing excellence across all aspects of the NBB Group's operations." For his part, Ben Naylor, Global Head of Research at Euromoney, remarked, 'NBB achieved strong growth with a 7% rise in assets and 11% increase in profits. The Bank advanced its digital transformation agenda, expanded sustainably, and launched Bahrain's first Bitcoin-linked investment product. Strategic execution boosted lending by 16%, while its continued emphasis on sustainability and innovation is helping reshape Bahrain's banking sector. NBB's diverse initiatives encompass CSR, employee engagement, and community support. In 2024, the Bank backed vulnerable groups, supported youth sports and education, launched a donations fund for urgent needs, and led notable environmental efforts. They also inaugurated a LEED Platinum-certified branch, launched a new Sustainable Management Committee, and recorded major energy and emissions reductions, demonstrating a firm commitment to ESG principles. These efforts were complemented with the financing of key social infrastructure, leading Bahrain's first sustainability-linked interest rate swap, advancing sustainable finance and governance standards.' The Bank's innovation-driven ethos remained a defining strength throughout the year, with an 84% increase in newly onboarded retail customers via digital channels and a 23% increase in digitally registered users. NBB launched a host of solutions that serve the dynamic needs of its business as well as consumer banking segments. Further expanding its consumer banking proposition to cater to younger customer demographics, the Bank introduced the Yalla Family Account. The product is offered as part of the NBB Digital Banking app to instil responsible spending habits among the youth, while allowing parents to onboard their children and manage their accounts directly through the digital experience. Staying ahead of the trends shaping global financial markets, NBB also introduced the GCC's first Bitcoin-linked structured investment product. The offering is designed for accredited investors and provides them with capital-protected exposure to Bitcoin's performance, thereby marking a pioneering investment solution that combines innovation with risk management. For its business clientele, the Bank delivered DigiCorp, a revamped corporate banking platform that offers secure and efficient financial management. Complementing DigiCorp were DigiConnect, a new host-to-host integration solution designed to streamline payment and reconciliation processes for large corporates, and the Enterprise Liquidity Management Solution (eLMS), which helps clients optimise balances, pool funds from different accounts, and manage daily liquidity. Additionally, NBB Go, Bahrain's first SoftPOS (Software Point-of-Sale) solution, enabled small merchants to use their NFC-enabled Android smartphones to securely accept payments. Together, these three Euromoney Awards for Excellence further reinforce NBB's purpose-driven vision that is redefining modern banking and reinforce its position as Bahrain's leading financial institution.
Kuwait Times
3 hours ago
- Business
- Kuwait Times
Celebrating a year of leading with purpose and pioneering sustainability in finance
KUWAIT: In line with its pioneering role and institutional commitment to embedding sustainability across all aspects of its operations, National Bank of Kuwait (NBK) released its ninth annual Sustainability Report for 2024. The report outlines the Bank's most prominent ESG-related achievements and contributions over the past year, reinforcing its dedication to sustainable growth. The report outlines the strategic ESG initiatives undertaken in 2024, highlighting NBK's continued efforts to tackle key sustainability challenges, explore emerging opportunities, and build on the sustainability journey it began in 2016. It also demonstrates the Bank's progress in embedding climate risk into its enterprise risk management framework. Providing a comprehensive overview of NBK's strategic sustainability roadmap, the report reflects the Bank's ambition to create a lasting positive impact on the communities it serves, while fostering long-term growth and operational resilience. The report is structured around four main ESG pillars—Governance for Resilience, Responsible Banking, Capitalizing on Our Capabilities, and Investing in Our Communities—each encompassing key issues, milestones, and initiatives undertaken in 2024. Governance for Resilience The report pointed out that NBK made significant strides in 2024 in strengthening governance for resilience as part of its ESG strategy. It highlighted NBK's role as a pioneer in advancing sustainability, becoming the first financial institution in Kuwait—and one of only 15 in the MENA region to join the Partnership for Carbon Accounting Financials (PCAF). This global initiative provides financial institutions with standardized methodologies to measure and disclose greenhouse gas emissions associated with their portfolios across all asset classes, including lending and investment activities such as listed equities and bonds, corporate loans, private equity, project finance, commercial real estate, mortgages, auto loans, guarantees, and sovereign debt. The report also noted that in 2024, NBK continued its engagement with the United Nations Global Compact (UNGC), the world's largest corporate sustainability initiative, which it joined in 2023. As part of this alliance, NBK submitted its first progress report in 2024, affirming its commitment to transparency and responsible business practices that support the sustainable development of Kuwait's economy. Furthermore, it emphasized that 2024 marked the release of NBK's first report aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework. As part of its continued progress toward a more sustainable future, the report noted that NBK developed and implemented a comprehensive bank-wide Environmental and Social Risk Management (ESRM) framework in 2024. This milestone reflects the Bank's commitment to embedding climate governance at the core of its operations, strengthening its ability to anticipate and manage emerging environmental risks. Additionally, NBK developed an ESG scorecard that supports the assessment and integration of ESG criteria into the credit rating process for both existing and new corporate clients. Responsible banking With regard to the Bank's achievements under the second pillar of its ESG strategy—Responsible Banking—the report highlighted that the value of NBK's sustainable assets reached $4.97 billion by the end of 2024, representing nearly 50 percent of its $10 billion target set for 2030. The report also noted a key milestone in 2024: the successful issuance of NBK's first green bonds, valued at $500 million. Issued under the Global Medium-Term Note Program as senior unsecured green bonds with a six-year maturity and a call date after five years, this marked the first issuance of its kind by a Kuwaiti financial institution. NBK recently published its first Green Bond Allocation and Impact report, highlighting the environmental benefits of the bonds' proceeds. Moreover, the report emphasized that this significant milestone reflects NBK's broader vision to lead the transition toward a low-carbon economy, promote sustainable finance across the region, and channel capital into climate-resilient infrastructure. It also revealed that in 2024, NBK Group extended sustainable loans totaling $2.52 billion to clients with environmental and/or social impact. The report noted the continued expansion of green product offerings, including electric vehicle loans and low-emission housing loans, alongside ongoing efforts to explore further environmental financing opportunities under the Bank's sustainable financing framework. The report noted that in 2024, NBK took a significant step toward quantifying financed emissions under Scope 3 - emissions that originate from activities outside the Bank's direct operations but are associated with its value chain, such as supply chains, transportation, and other indirect sources, but most importantly, its financing activity. This development enhances the Bank's ability to manage the broader climate impact of its financing decisions. According to the report, NBK completed the installation of solar panels across 18 of its local branches in 2024 as part of efforts to make its operations more sustainable and reduce its carbon footprint. The initiative aligns with Kuwait's Vision 2035, with plans to extend coverage to 24 branches by 2025. It also highlighted NBK's progress in minimizing its environmental footprint and enhancing resource efficiency, noting a 28.30 percent reduction in total greenhouse gas emissions compared to the 2021 baseline—surpassing its interim 2025 emissions reduction target ahead of schedule. Additionally, the report explained that in 2024, the bank successfully reduced its electrical energy consumption by approximately 389,914 kWh, cut water usage by 20.85 percent compared to the previous year, and recycled 86 percent of the total paper used during the year. This reflects the Bank's ongoing efforts in line with its long-term ambition to reach carbon neutrality by 2060. The report highlighted that in 2024, NBK introduced a sustainable procurement framework designed to promote environmentally and socially responsible sourcing across its supply chain. The initiative integrates ESG considerations into the Bank's procurement policy and includes the rollout of an updated supplier code of conduct that embeds environmental and social standards, requiring all suppliers to sign a declaration affirming their commitment to ESG principles and human rights. Capitalizing on our capabilities Covering the third pillar of its ESG strategy—Capitalizing on Our Capabilities—the report stated that NBK advanced its sustainability efforts in 2024 by reinforcing equal opportunity in the workplace. This included finalizing its Diversity, Equity, and Inclusion (DE&I) statement, underscoring the Bank's commitment to fostering an inclusive and equitable work environment. The report explained that in 2024, the Bank launched several strategic initiatives and specialized programs aimed at supporting and developing women leaders, contributing to a notable increase in the number of women in leadership and supervisory roles across all levels. It noted that women represented 43.2 percent of NBK's workforce by the end of the year, with 27.4 percent holding senior management positions. Additionally, women accounted for 28.8 percent of the Bank's workforce in science, technology, engineering, and mathematics (STEM) fields, out of a total of 347 specialized employees. The report highlighted that, through its digital transformation strategy, NBK successfully delivered a range of customer-centric digital solutions and large-scale projects in 2024. It noted the launch of over 90 new features and enhancements via the NBK Mobile Banking App, aimed at improving user experience, strengthening security and payment capabilities, and broadening the Bank's suite of innovative digital offerings — all designed to save customers time and effort. It stated that Weyay Bank, NBK's digital arm, launched impactful ESG initiatives in 2024 aimed at enabling customers to experience a more responsible and innovative digital banking model. It also underscored NBK's continued investment in the professional development of its workforce, highlighting a comprehensive suite of mandatory, leadership, and specialized training programs designed to enhance both personal and professional competencies across all levels of the organization. The report emphasized the Bank's ongoing commitment to empowering young national talent through various initiatives, most notably NBK Academy and NBK Tech Academy. Touching on NBK's strategy to strengthen women's leadership across the organization, the country, the region, and globally, the report stated that the Bank launched the second edition of the NBK RISE program in 2024. As the first initiative of its kind in Kuwait, the program is designed to support women leaders, empower their advancement, and prepare them to assume top executive roles. The report also highlighted NBK's ongoing commitment to investing in human capital. In 2024, the Bank signed an exclusive cooperation agreement with Coaches Circle Academy, based in Vancouver, Canada, to enhance the leadership and coaching capabilities of NBK's senior executives. As part of this initiative, a select group of senior employees participated in advanced leadership development programs in collaboration with IE Business School in Madrid, to cultivate and elevate the skills of the broader workforce. Investing in our communities The report affirmed that, in line with the fourth pillar of NBK's ESG strategy — Investing in Our Communities — the Bank remained committed in 2024 to delivering exceptional service, safeguarding customer interests, and protecting their rights. It also continued to promote financial inclusion, expand access to banking services, and elevate financial literacy across all segments of society. Furthermore, the report explained that, reinforcing its position as the leading contributor to social responsibility in Kuwait, NBK's total community investments reached KD 30 million in 2024 — a 9 percent increase from 2023. It added that, as part of its continued support for entrepreneurs in Kuwait, the Bank extended loans to SMEs totaling KD 25.04 million last year, reflecting a 23.5 percent year-on-year growth. The report noted that the Kuwaitization rate at NBK – Kuwait reached 78 percent in 2024, aligning with the requirements set by the Central Bank of Kuwait (CBK). This was achieved through targeted initiatives aimed at attracting and developing local talent. It underscored that NBK's Kuwaitization strategy is designed to broaden the recruitment of national talent and sustain their retention over the long term. It also indicated that, as part of the Bank's ongoing commitment to community development—particularly in the field of education—interest in the Bankee program has continued to grow. This flagship initiative, aimed at enhancing financial awareness and literacy among school students in Kuwait, saw the participation of 61 schools, 7,230 teachers, and 32,257 students during the 2024–2025 academic year, building on the remarkable success achieved in the previous year. The report stated that, during 2024, NBK maintained its sponsorship of Kuwait Dive Team to support initiatives aimed at preserving Kuwait's coastal and marine ecosystems. It also renewed its partnership with Omniya for waste removal and management, which contributed to a reduction of 462.5 tons in carbon dioxide emissions. Additionally, the Bank extended its collaboration with the LOYAC Foundation to continue developing programs and events that empower youth, foster entrepreneurship, and promote environmental responsibility. The report highlighted that the Bank continues to actively use its social media channels to educate customers on a wide range of topics. In 2024, NBK issued 2,320 social media posts and 42 press releases to boost customer awareness of banking products and services. The report also emphasized the Bank's ongoing strong support and participation in CBK's 'Let's Be Aware' campaign, which aims to promote financial literacy across all segments of society. A customer satisfaction rate of 90 percent was highlighted in the 2024 report, underscoring NBK's ongoing efforts to enhance its services and products, introduce innovative solutions, and solidify its standing as a leader in the banking sector. Agreements & partnerships The report highlighted NBK's participation in the 2024 Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) held in Baku, Azerbaijan, underscoring the Bank's commitment to supporting the transition to a sustainable, low-carbon economy in alignment with Kuwait's comprehensive sustainability vision and global climate action efforts. It also noted NBK's involvement in the sixteenth session of the Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification (UNCCD) that took place in Riyadh, Saudi Arabia, where global strategies to address desertification and land degradation were discussed. 1. NBK becomes the first bank in Kuwait to join the PCAF initiative to support greenhouse gas emissions reduction 2. First Kuwaiti financial institution to issue green bonds 3. Developed and began implementing an Environmental and Social Risk Management (ESRM) framework 4. Introduced a sustainable procurement strategy and updated its supplier code of conduct 5. Published first report aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework 6. Launched Diversity, Equity and Inclusion (DE&I) Statement to reinforce equal opportunities in the workplace 7. Measuring financed emissions under Scope 3 leads to better manage the climate impact of its lending portfolio 8. Sustainable assets reached US$4.97 billion, nearly 50% of the Bank's 2030 target 9. Provided US$2.52 billion in sustainable loans in 2024 to clients with positive environmental or social impact 10. Achieved a 28.3% reduction in total GHG emissions compared to the 2021 baseline, subsequently achieving its 2025 interim emissions reduction target 11. Achieved 389,914 kWh in electricity savings and lowered water consumption by 20.85% year-on-year 12. Recycled 86% of total paper consumed in 2024 13. Installed solar panels in 18 branches across Kuwait during the year, with more installations planned in the future. 14. Maintains a national workforce with 78% Kuwaiti employees 15. Women hold 27.4% of senior management roles at the bank 16. Employs 347 STEM professionals, 28.8% of whom are women 17. Contributed KD 30 million in community investments during 2024, reflecting 9% year-on-year growth 18. Engaged with 61 Schools, +32,000 students and +7,200 teachers as part of its Bankee financial literacy program
Globe and Mail
6 hours ago
- Business
- Globe and Mail
B2Gold Releases its Ninth Annual Responsible Mining Report and its Fourth Annual Climate Strategy Report
VANCOUVER, British Columbia, May 28, 2025 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ('B2Gold' or the 'Company') is pleased to announce that it has published its ninth annual Responsible Mining Report entitled 'Raising the Bar' (the 'Report'), which details B2Gold's global economic contributions and its environmental, social, and governance ('ESG') management practices, together with the Company's performance against key indicators in 2024. Highlights of the Report are presented below, and full details are outlined in the Report, which is available to view or download at the link provided below. All dollar figures are in United States dollars unless otherwise indicated. B2Gold is also pleased to announce that it has published its 2024 Climate Strategy Update. The Climate Strategy Update presents stakeholders with information on how B2Gold manages its climate-related risks and impacts and is the Company's fourth annual report in line with the recommendations of the Task Force on Climate-related Financial Disclosures. To view or download a copy of the Responsible Mining Report and Climate Strategy Update, and all other documents referred to in this press release, please visit In announcing the release of the Report and the Climate Strategy Update, Clive Johnson, President & CEO of B2Gold, states 'As I reflect on the achievements and challenges of the past year, I am particularly proud of the dedication of our people, who continue to drive B2Gold forward. We have successfully navigated dynamic capital markets, regulatory changes, and evolving ESG expectations while maintaining our high standards of responsible mining. Together, we strive to continue to create long-term value for all of our stakeholders, while upholding the level of operational excellence, environmental stewardship, and social responsibility that define B2Gold.' Highlights from the 2024 "Raising the Bar" Responsible Mining Report Economic Contribution As a responsible gold miner, B2Gold aims to create and distribute economic value among its stakeholders. B2Gold's economic performance is measured by the economic value that it generates for others, including payments to governments through taxes and royalties, local hiring and procurement and investment in communities. In 2024, B2Gold: Achieved total consolidated gold production of 804,778 ounces (including 19,644 ounces of attributable production from Calibre Mining Corp.); Generated $1.9 billion in annual revenue; Paid $283 million in employee wages and benefits; Invested $12.8 million in its local communities 1; and Paid $564 million to governments (through taxes and royalties). B2Gold is committed to maximizing local and national economic benefits from its contracting and purchasing. The Company is conscious of the high priority that host communities and governments place on local procurement. In sourcing the goods and services necessary to run its operations, B2Gold gives preference to local businesses where possible, provided they meet minimum safety, quality, ethical, and cost requirements. In 2024, over $600 million of goods and services were procured from local and host-country businesses. Several 2024 success stories are outlined in the Report. People As a reputable corporate citizen, B2Gold generates national employment and opportunities for people to develop their careers, trains employees to acquire new skills, and opens doors to women, under-represented groups and previously disadvantaged people. The Company fosters positive and productive engagement with employees, provides safe workplaces, and believes that investing in people attracts and retains talented individuals and assists in their abilities to provide for themselves, their families and their futures. At the end of 2024, B2Gold employed 6,478 2 people across all operations. The Company continues to maintain high local employment rates by targeting recruitment efforts at regional and national levels. Across all operations, 97% of the total workforce, and 58% of Senior Management 3 were comprised of national 4 employees. B2Gold values a diverse workforce. In recent years, the Company has made significant strides in advancing its Equity, Diversity and Inclusion initiatives. In 2021, the adoption of a Diversity Policy by the Company's Board established a target of 30% female representation on the Board and in management-level positions, underscoring its commitment to promoting and achieving gender diversity at all levels of the organization. B2Gold is pleased to report that as of the end of 2024, 40% of Company directors identify as gender diverse. Health and Safety As a result of B2Gold's focus on injury prevention, the Company is once again pleased to report that for the ninth consecutive year, it has maintained a zero-fatality workplace. Additionally, B2Gold's injury rates remain amongst the lowest in the mining industry, with a Lost Time Injury Frequency Rate of 0.05 5 in 2024. These achievements underscore the Company's position as a leader in safety performance within the industry. Communities B2Gold maintains its social licence to operate by building trust-based relationships, actively engaging with stakeholders, and implementing community investment activities based on local ownership and development priorities. Highlights of the 2024 community investment programs include: At the Fekola Complex, the 70-hectare Goungoubato Agricultural Project is supporting over 250 households affected by resettlement, directly addressing food insecurity whilst fostering small- and medium-sized enterprise growth through newly formed farmers' associations. Additionally, B2Gold continued its partnership with Global Affairs Canada and its support of the FEMA Project, which aims to improve conditions for women and children living in artisanal mining communities within the Fekola Mine's area of influence. The FEMA Project was initiated in March 2022 and will continue until 2027. At the Masbate Gold Project, investment continued to focus on education, access to health services and facilities, and programs that enhance local economic opportunities, including skills training and small enterprise support. The Training for Employment Program reached its fifth year of partnership in 2024 and remains a powerful driver of economic mobility by equipping individuals with the skills and training needed to build sustainable livelihoods. Over the lifetime of the project, 1,521 individuals have received training and over 600 participants have secured employment. At the Otjikoto Mine, B2Gold Namibia achieved significant milestones that reflect the Company's commitment to meeting critical needs, supporting long-term development, and fostering resilience beyond the life of the mine. Notable achievements include the completion of the Ombili Clinic, which will improve access to healthcare in the region, and the Otavi Water Project, which enhances water security through the construction of a tower and water distribution system. At the Back River Gold District, B2Gold Nunavut continues to strengthen its close relationships with the Kitikmeot Inuit Association and communities across Canada's Arctic. The Company is investing in collaborative projects throughout the Kitikmeot region that promote community wellness, support youth through sports, recreation, and education, and advance initiatives focused on women and Elders. A standout initiative is the Inuit Workplace Experience Program, delivered in partnership with the Redfish Arts Society, which provides Kitikmeot Inuit youth with hands-on training in welding and fabrication—equipping them with valuable skills for employment in Nunavut's growing mineral development sector. B2Gold Nunavut remains committed to working alongside the Kitikmeot Inuit Association to advance further initiatives that ensure the benefits of the Back River Gold District reach the communities of Cambridge Bay, Kugluktuk, Gjoa Haven, Taloyoak, and Kugaaruk. Environment B2Gold's remains firmly committed to reducing greenhouse gas ('GHG') emissions, with a target to reduce Scope 1 and 2 emissions by 30% by 2030 against a 2021 baseline. The completion of the Fekola solar plant expansion in early 2025 underscores this commitment by advancing the decarbonization of operations through innovative and sustainable energy solutions. The expanded Fekola facility is expected to supply approximately 30% of the site's electricity demand and reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO 2 e). Approach to Reporting B2Gold is committed to the transparency of its sustainability risks, management and performance. The Report is aligned with the Global Reporting Initiative Sustainability Reporting Standards and the Sustainability Accounting Standards Board Mining and Metals Sustainability Accounting Standard. The Company firmly believes that the mining industry has an opportunity to contribute positively to the United Nations Sustainable Development Goals and it has reported its contribution in this regard since 2018. Highlights from the 2024 Climate Strategy Update 2024 Highlights B2Gold is committed to a GHG emissions reduction target of a 30% reduction in Scope 1 and 2 emissions by 2030 against a 2021 baseline. The Company continued evaluation of financial impacts of key climate risks identified at sites during previous climate scenario analysis workshops. The total Scope 1 and 2 GHG emissions (for the Fekola, Masbate and Otjikoto operations) remained relatively stable in 2024, with a slight decrease to an estimated 699 thousand tonnes CO 2 e compared to 701 thousand tonnes in 2023. The Company's consolidated GHG emissions intensity was 0.89 tonnes CO 2 e per gold ounce produced in 2024 (compared with 0.71 in 2023), a modest increase driven in part by a reduction in total gold production. The proportion of electricity consumed at B2Gold operations from renewable sources was 21.7% in 2024. At Otjikoto, the proportion of electricity consumed from renewable sources was over 70%. Looking Forward – 2025 and Beyond In 2025, B2Gold looks forward to strengthening its global partnerships and deepening its commitment to the diverse communities in which it operates. The Company will continue investing in initiatives that expand vocational training and promote job creation, improve access to education, and enhance healthcare services. B2Gold believes that by building local capacity and fostering strong alignment among governments, communities, stakeholders, and the Company, it can help create resilient, healthy, and prosperous communities throughout the mining lifecycle. As part of its climate strategy, B2Gold will continue to advance renewable energy initiatives across its operations, supporting its target to reduce Scope 1 and 2 GHG emissions by 30% by 2030 against a 2021 baseline. At the Masbate Gold Project, an 8.2-megawatt ('MW') solar plant is scheduled for installation in 2025, which will further reduce emissions and heavy fuel oil ('HFO') consumption. In Nunavut, following regulatory approvals received in 2024, B2Gold is finalizing project plans and environmental commitments for the proposed Back River Energy Centre—a renewable energy facility that could include up to thirteen wind turbines, solar panels, and battery storage, with the potential to deliver more than 55 MW of clean energy. This facility is expected to significantly reduce reliance on HFO, as well as the number of fuel barges and fuel truck trips along the winter ice road. Beyond increasing the share of renewable energy in its operations, B2Gold is actively assessing a range of additional carbon reduction opportunities, including energy efficiency improvements, the use of alternative fuels, and optimization of materials movement. The Company remains committed to innovation by working closely with industry-leading partners and staying prepared to adopt emerging technologies that align with its decarbonization goals. About B2Gold B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland. ON BEHALF OF B2GOLD CORP. 1 Includes the Community Relations department's operational costs, Gramalote CSR, Masbate's SDMP, Otjikoto's Nature Reserve and Agricultural Project expenditures, and Head Office donations. 2 Employee total includes our three operating mines and project/construction employees. The reported numbers include full-time and part-time permanent employees as well as temporary employees. 3 'Senior Management' refers to regional executives and regional heads of department. 4 As of January 1, 2024, 'National' is defined as those with citizenship in the country of operation. This change was made to align with the Malian local content definition. Prior to 2024, National status was defined as those individuals not on expatriate contracts and included those who had the legal right to work and reside in country without citizenship. As per the Namibian Affirmative Action (Employment) Act, 'Local' is defined as 'Namibian', which excludes expatriates, permanent residents and those who have domicile. 5 Frequency Rate is based on 200,000 hours.
Yahoo
6 hours ago
- Business
- Yahoo
NEM, FNV, and WPM Primed for Gold Rush 2.0 as Geopolitics Fuel Hard Asset Boom
Amid rising geopolitical tensions, persistent inflation concerns, and growing skepticism about long-term fiscal discipline, investors increasingly seek stability in hard assets. The U.S. national debt has surpassed $36 trillion, with annual interest payments approaching $1 trillion. At the same time, central banks worldwide are significantly increasing their gold reserves, reflecting growing concerns about fiscal sustainability and potential currency devaluation. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter In this uncertain macroeconomic environment, marked by rising deficits and increasing questions about the long-term strength of the U.S. dollar, gold has become an increasingly attractive asset. Against this backdrop, investors are turning to hard assets for stability, and three companies stand out as strong opportunities: Newmont Corporation (NEM), Franco-Nevada (FNV), and Wheaton Precious Metals (WPM). Each offers unique strengths and is well-positioned to benefit from rising gold prices and the broader shift toward safe-haven investments. Newmont is one of the most prominent players in the gold mining space. In fact, it is the world's largest by production, with a sprawling portfolio across four continents. Their latest report showed a 55% jump in adjusted EBITDA to $2.6 billion in Q1, driven by a 41% spike in realized gold prices, even if volumes fell 10%. That's the kind of leverage you want when gold's hovering around $2,700 an ounce, powered by central banks hoarding bullion and investors ditching shaky bonds. But besides Newmont coasting on high prices, they're also streamlining after their $16.8 billion Newcrest acquisition in 2023, integrating top-tier assets like Lihir in Papua New Guinea and Brucejack in Canada, which makes for another tailwind. However, scale brings complexity. Managing mines from Nevada to Ghana isn't a picnic, and unit cash costs crept up 5% last quarter. Still, CEO Tom Palmer remains laser-focused on 'sustainable and responsible mining,' which is winning ESG points. While that may sound insignificant to most, it actually matters to institutional investors. In the meantime, with U.S. debt-to-GDP pushing 120% and whispers of more quantitative easing, Newmont's diversified production (gold, copper, silver) makes it a rock-solid bet to capitalize on hard-asset demand. Currently, most analysts are bullish on NEM stock. The stock features a Moderate Buy consensus rating based on nine Buy and four Hold ratings assigned in the past three months. No analyst rates the stock a sell. NEM's average stock price target of $61.55 implies ~15% upside over the next twelve months, despite shares having already rallied 45% year-to-date. If Newmont is the muscle in the gold mining game, Franco-Nevada is the brains, playing the royalty and streaming angle with a portfolio so diversified it's practically a hedge fund for precious metals. Their Q1 numbers, posted earlier this month, showed revenue holding steady despite a dip in gold equivalent ounces, thanks to higher gold and silver prices. Now, note that Franco-Nevada is not the one that digs the dirt; they just bankroll miners and get a cut of the output, which shields them from cost inflation that plagues operators like Newmont. This essentially means that with mining revenues set to surge, don't the back of higher hold prices, margins will also climb, resulting in disproportionately higher profits. Arguably, Franco-Nevada operates a low-risk model. With no operational headaches, its free cash flow is set to surge in the coming quarters, enabling a substantial dividend hike and/or significant capital deployment toward buybacks. And again, the macro picture, with U.S. deficits projected to hit $2 trillion annually by 2030, screams currency debasement, which should keep pushing gold as a safe haven and thus increase Franco-Nevada's ability to scoop up new streams in a frothy market. The long-term outlook certainly seems favorable. On Wall Street, FNV stock carries a Moderate Buy consensus rating based on seven Buy, five Hold, and zero Sell ratings over the past three months. FNV's average stock price target of $182.33 implies approximately 8.5% upside potential over the next twelve months. Wheaton Precious Metals is Franco-Nevada's scrappy cousin, another streaming heavyweight who loves turning gold and silver into cash flow without touching a shovel. Their latest numbers boasted a 12% revenue uptick year-over-year, driven by 29 million ounces of silver and over 350,000 ounces of gold sold. They also shook off a $1 billion tax dispute with Canada, settled back in 2018, which had loomed over the sector. That resolution set a precedent, easing worries for peers like Franco-Nevada, too. Moreover, I like Wheaton's recent deal-making agility and activity overall. They've inked new streams on projects like Salobo in Brazil, locking in low-cost metal purchases while gold and silver prices climb. With global debt levels sparking fears of currency erosion, especially as the U.S. is to service a nearly $1 trillion annual interest bill, Wheaton's diversified portfolio and lean cost structure make it a nimble play. Its 0.73% dividend yield isn't flashy, but it's steady, and their balance sheet, with just $1.26 billion in debt, is rock-solid. Wheaton Precious Metals is currently covered by 15 Wall Street analysts, who appear quite bullish on the name. WPM stock carries a Strong Buy consensus rating, based on 14 Buys and just one Hold rating over the past three months. WPM's average stock price target of $88.28 implies ~2% upside potential over the next twelve months. The global financial system is showing signs of strain, with the U.S. government continuing to borrow at an unprecedented pace. Meanwhile, central banks around the world are purchasing record amounts of gold, signaling a growing shift toward tangible stores of value. In this environment, gold is evolving from a traditional hedge to an essential component of a resilient portfolio. Beyond owning physical gold, investors have compelling options through equities. Newmont offers the scale and leverage of a major miner, Franco-Nevada brings a low-risk royalty model, and Wheaton Precious Metals excels with its efficient streaming approach. Whether you're seeking the direct exposure of a producer or the capital-light advantage of a royalty/streaming company, these three stand out as strategic plays in a world increasingly questioning the stability of fiat currencies. Disclaimer & DisclosureReport an Issue Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
6 hours ago
- Business
- National Post
Lithium Royalty Corp. Announces Voting Results
Article content TORONTO — Lithium Royalty Corp. (TSX: LIRC) ('LRC') announced the successful election of each of the director nominees listed in the management proxy circular for the annual and special meeting of shareholders held today. The detailed voting results are set out below: Article content Article content Shareholders also appointed KPMG LLP, as the independent auditor of LRC, for the next year and the directors were authorized to fix its remuneration. Article content In addition, shareholders approved the renewal of the Company's omnibus equity incentive plan and all unallocated awards thereunder. Article content A report on all items of business voted at the Annual and Special Meeting of Shareholders has been filed on SEDAR+. Article content About Lithium Royalty Corp. Article content LRC is a lithium-focused royalty company organized in Canada, which has established a globally diversified portfolio of 35 revenue royalties on mineral properties that are related to the electrification and decarbonization of the global economy. The Company's royalty portfolio is focused on the battery supply chain for the transportation and energy storage industries and is underpinned by mineral properties that produce or are expected to produce lithium and other battery materials. LRC is a signatory to the Principles for Responsible Investment; the integration of ESG factors and sustainable mining are considerations in our investment analysis and royalty acquisitions. Article content Article content Article content Article content Contacts Article content Article content Article content
