Staff Writer
WINDHOEK, April 19 — B2Gold to phase out production at Otjikoto gold mine in Namibia Canadian gold miner, B2Gold, announced on Tuesday that it would commence the phased closure of its Otjikoto gold mine in Namibia, which was once the country’s largest gold producer.
The company said that it would gradually reduce its production until 2031 when it will cease operations completely. Otjikoto’s production reached 161,614 ounces of gold last year, accounting for about 16% of B2Gold’s total output for 2022. The mine, which began commercial production in March 2015, has reached the end of its open-pit gold resource, according to the company.
The last year of full open-pit mining production will be 2023, with output expected to be between 190,000 and 210,000 ounces of gold. However, B2Gold will continue to develop its underground mine at Otjikoto, which could extend the mine life and replace some of the lost production from the open-pit operation.
B2Gold to acquire Sabina Gold & Silver In addition to its phased closure of the Otjikoto gold mine, B2Gold is in the midst of acquiring Sabina Gold & Silver, a Canadian exploration and development company that owns five high-grade gold projects in Nunavut.
The acquisition includes the Back River project, which is expected to begin producing gold in 2025 at an annual rate of 300,000 ounces for 15 years. B2Gold also has mines in Mali and the Philippines, as well as exploration projects in Uzbekistan, Finland, and Colombia. With the acquisition of Sabina Gold & Silver, B2Gold’s gold reserves are expected to increase significantly. – Namibia Daily News
