Otjikoto Gold Mine in Namibia to be shut down
The Otjikoto Gold Mine in Namibia is set to undergo a phased closure process. A statement signed by Eric Barnard, the mine’s general manager and John Roos, B2Gold’s country manager, and the manager, the move is due to low reserves.
B2Gold acquired the mine in 2011 and the first gold was poured on 5 December 2014I. The mine operation reached commercial production on 1 March, 2015. The most recent life of mine plan indicates a current mine life of approximately nine years beginning in 2023, unless a significant discovery or extension is made.
Mine life
The open pit end life is likely to be at the end of 2024, with production ramping down to 50% capacity in 2024. Full open pit mining production will end in 2023, and low-grade stockpile processing and milling will continue until around 2023, provided it remains economically viable. B2Gold expressed its commitment to the Otjikoto Mine and investing in exploration activities around it to extend its life.
Being that the move will affect the mine site and Windhoek office staff, the firm stated that employees will be informed of the closure plans and provided with accurate information on payouts and notice periods, as well as their rights and any other relevant entitlement.
