Mali's economy minister Boubou Cisse was recently reported as telling a joint news conference with the International Monetary Fund that the government would negotiate with mining companies to draft a new code - but would implement a unilateral decision like the Democratic Republic of Congo if talks didn't work out.

"Government officials have advised the company that the minister's comments were taken out of context in such news report and should not be applied to all mining operations in Mali," B2Gold said in a statement.

It said its interest in the Fekola mine, which started commercial production ahead of schedule in November, was protected by stabilisation provisions which meant it was subject to the 2012 mining code for the duration of its operations and subsequent amendments were not applicable.

"As a result of these provisions, the company believes its interests in Fekola are protected and that any contemplated amendments in a new mining code will not apply to Fekola without B2Gold's agreement," it said.

It said it had an excellent relationship with the government and would transfer 20% of mine ownership to Mali, once a signed shareholders agreement was ratified by the National Assembly, expected to occur at its April sitting.

Fekola is expected to contribute about 400,000oz of gold to B2Gold's forecast 2018 production of 910,000-950,000oz.

Other companies with Mali mines have not commented on the report, with Hummingbird Resources (LN:HUM) on Monday providing a Yanfolila ramp-up update ahead of an analyst site visit this week; while both AngloGold Ashanti (JSE:ANG) and Randgold Resources' (LN:RRS) latest statements have been updates on DRC negotiations.

The DRC has vowed to move ahead with the controversial changes to its mining code, which include increased royalties, but has said it will talk to established miners also including Ivanhoe Mines (CN:IVN) and Glencore (LN:GLEN) over the implementation.

B2Gold shares have fallen from Friday's close of C$3.83 to $3.54 yesterday.