VanEck Holds 135.9M B2Gold Shares, 10.28% Ownership

Rhea-AI Filing Summary

The Schedule 13G/A shows Van Eck Associates Corp reports beneficial ownership of 135,908,163 common shares of B2Gold, representing 10.28% of the class. Van Eck reports sole voting power for 135,530,656 shares and sole dispositive power for 135,908,163 shares, indicating control over voting and disposition of the reported position. The filing states the VanEck Junior Gold Miners ETF has rights to dividends and sale proceeds for 77,932,674 of the reported shares. The document includes the issuer's principal office and the CUSIP for the common shares.

Insights

Financial Analyst

TL;DR: VanEck reports a material 10.28% stake in B2Gold with near-total sole voting and dispositive power on the position.

Van Eck's reported 135.9 million shares equal a double-digit holding, which is large enough to be material for investors evaluating ownership concentration. The distinction between sole voting power and sole dispositive power in the filing shows the reporting person controls both vote direction and disposition for most of the position. The filing also discloses that an ETF sponsored by VanEck has rights to dividends and proceeds on a substantial subset of shares, which affects how those shares may be managed within VanEck's product suite.

Corporate Governance Expert

TL;DR: A >10% reported ownership with sole voting authority on most shares is governance-relevant but the filing does not assert any intent to influence control.

The reported sole voting power of 135,530,656 shares could be significant for shareholder votes and corporate governance outcomes. The Schedule 13G/A format and the filing content do not identify a group or parent holding company and do not state an intent to change or influence control. The separate note identifying 77,932,674 shares tied to the VanEck Junior Gold Miners ETF clarifies which portion of the position may be held in an investment fund rather than in discretionary accounts.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 11)

B2GOLD CORP

(Name of Issuer)

Common Shares

(Title of Class of Securities)

11777Q209

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 11777Q209

1

Names of Reporting Persons

VAN ECK ASSOCIATES CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 135,530,656.00
6	Shared Voting Power
7	Sole Dispositive Power 135,908,163.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

135,908,163.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

10.28 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: B2GOLD CORP
(b)	Address of issuer's principal executive offices: PARK PLACE, SUITE 3400 - 666 BURRARD STREET, VANCOUVER, British Columbia, Canada, V6C 2X8
Item 2.
(a)	Name of person filing: Van Eck Associates Corporation
(b)	Address or principal business office or, if none, residence: 666 Third Ave, 9th Floor, New York NY 10017
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 11777Q209
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 135,908,163
(b)	Percent of class: 10.28 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 135,530,656
	(ii) Shared power to vote or to direct the vote:
	(iii) Sole power to dispose or to direct the disposition of: 135,908,163
	(iv) Shared power to dispose or to direct the disposition of:
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The VanEck Junior Gold Miners ETF, an investment company registered under the Investment Company Act of 1940, has the right to receive dividends and proceeds from the sale of 77,932,674 of the shares reported by Van Eck Associates Corp
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

VAN ECK ASSOCIATES CORP

Signature:	Ashley Sousa
Name/Title:	Ashley Sousa, AVP, Van Eck Associates Corporation
Date:	08/14/2025

FAQ

How many B2Gold (BTG) shares does VanEck beneficially own?

135,908,163 shares, representing 10.28% of the class.

What voting and dispositive powers does VanEck report over BTG shares?

Sole voting power: 135,530,656; sole dispositive power: 135,908,163; no shared powers are reported.

Does any VanEck fund have rights to dividends or sale proceeds for these shares?

Yes. The VanEck Junior Gold Miners ETF has rights to dividends and proceeds for 77,932,674 of the reported shares.

What class of security and CUSIP are reported in the filing?

Common Shares, CUSIP 11777Q209.

Is the reported ownership part of a group or parent holding company?

No. The filing lists Not Applicable for group or parent holding company identification.