Staff Reporter
WINDHOEK, April 19 — B2Gold to Close Namibian Mine Due to Depleted Gold Resource Canadian gold miner B2Gold has announced the phased closure of its Otjikoto open-pit mine in Namibia due to the depletion of its gold resource. The mine produced 161,614 ounces of gold in 2022, contributing nearly 16% of B2Gold’s total output last year. The phased downscaling of operations, in line with the closure plan, will only begin during the first quarter of 2024. The economically viable operations at Otjikoto are projected to end in 2031. The company is also developing its underground mine at Otjikoto to replace ounces from the winding down of open-pit operations. B2Gold also plans to acquire Canadian exploration and development company Sabina Gold & Silver Corp in a C$1.2-billion ($897.5-million) all-share deal.
What the Closure of B2Gold’s Otjikoto Mine Means for Namibia’s Mining Sector B2Gold’s announcement of the phased closure of its Otjikoto open-pit mine in Namibia due to depleted gold resources raises questions about the future of the country’s mining sector. The mine produced nearly 16% of B2Gold’s total output last year, and its closure will have a significant impact on the local economy and job market. However, B2Gold has assured us that it is consulting workers who are likely to be affected by the closure. While the economically viable operations at Otjikoto are projected to end in 2031, the open-pit viability is projected to end in 2024, with output dropping to 50% of production capacity. B2Gold plans to continue developing its underground mine at Otjikoto to replace ounces from the winding down of open-pit operations.
– Namibia Daily News
