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B2Gold Corp., a leading global senior gold producer, has unveiled its operational plans for the Otjikoto Gold Mine in Namibia, outlining a strategy focused on extending mine life and maximizing production.
In 2025, the company projects processing 3.4 million tons of ore at an average grade of 1.63 grams of gold per ton, with an impressive 98% gold recovery rate. This ore will be sourced from a combination of the Otjikoto open pit, the Wolfshag underground mine, and existing stockpiles. While open-pit mining is slated to conclude in the third quarter of 2025, underground operations at Wolfshag are expected to continue through 2027.
However, B2Gold’s ambitions extend beyond the current operational timeline. Encouraging exploration results at the newly discovered Antelope deposit, particularly at the Springbok and Oryx Zones, offer the tantalizing prospect of extending production beyond 2027, potentially until 2032.
The company is poised to conduct further exploration, with a dedicated budget of US$10 million to de-risk the Antelope deposit development through early planning, permitting, and long-lead orders. A substantial US$7 million has been earmarked for an aggressive drilling program, encompassing 44,000 meters, aimed at expanding and refining the understanding of the Antelope deposit’s potential.
A key milestone for the Antelope deposit is the anticipated release of a preliminary economic assessment (PEA) early in the first quarter of 2025. This assessment will be informed by an initial inferred mineral resource estimate, expected to be released in 2024. Subject to a positive PEA outcome and necessary approvals, the Springbok Zone could contribute to gold production as early as 2028, adding a significant boost to the mine’s overall output.
The company has budgeted US$39 million for capital expenditures at Otjikoto in 2025, a modest increase from the previous year. This allocation includes US$29 million for sustaining capital, primarily focused on underground development (US$16 million), tailings storage facility construction (US$7 million), and the replacement and refurbishment of mining equipment (US$6 million).
In 2024, the Otjikoto Mine achieved a solid performance, producing 198,142 ounces of gold, falling comfortably within the revised guidance range of 185,000 to 205,000 ounces. This success provides a strong foundation for the company’s ambitious plans for the future.
B2Gold’s strategic focus on extending mine life, leveraging new discoveries like the Antelope deposit, and implementing robust operational plans positions the Otjikoto Mine for continued success in the years to come. This commitment to sustainable and profitable operations underscores B2Gold’s dedication to maximizing shareholder value while contributing to the economic growth of Namibia.
