Calibre Mining spent US$100 million to acquire B2Gold's La Libertad (Pictured above) and El Limon gold mines in Nicaragua, along with other assets. Photo courtesy of Santa Fe Group.

B2Gold and Calibre Mining announced a US$100-million transaction on Tuesday that will see Calibre acquire two of B2Gold’s Nicaragua gold mines – El Limon and La Libertad – its Pavon gold project and other gold assets in the country. Once the transaction is complete, B2Gold will own around 31 per cent direct equity of Calibre, making it Calibre’s largest shareholder.

“We are delighted to be able to partner with B2Gold on the acquisition of the El Limon and La Libertad Mines and welcome B2Gold as a significant shareholder of Calibre,” said Calibre executive chairman Russell Ball. “We see continuing the ongoing commitment to the current management team and many long-term employees as fundamental to the future success of our company and are grateful to have B2Gold’s unwavering guidance and involvement in carrying out this responsibility.”

The two gold mines are Nicaragua’s largest gold exporters, as well as the country’s largest individual exporting operations.