B2Gold’ s Otjikoto mine records another solid year in 2018
Triple-listed international gold miner, B2Gold and owners of the Otjikoto Mine this week reported that their local mine had another solid year in 2018, producing 167,346 ounces of gold, above the mid-point of its guidance range of between 160,000 and 170,000 ounces.
According to a report on the company’s website, Otjikoto’s production for the year resulted from processing 3.4 million tonnes (compared to budget of 3.3 million tonnes and 3.5 million tonnes in 2017) at an average grade of 1.53 g/t and average gold recoveries of 98.7% (compared to budget of 98.0% and 98.6% in 2017).
The report said compared to the prior-year, gold production was lower by 13%, as planned, due to a negligible amount of Wolfshag ore being mined in 2018 while Phase 2 of the Wolfshag Pit is being developed. Higher grade ore production is planned to resume from the Wolfshag Pit in late 2019.
“For the fourth quarter 2018, the Otjikoto Mine produced 44,766 ounces of gold, approximately in-line with budget. Compared to the prior-year quarter, gold production was lower by 15% (7,680 ounces), as planned, due to a negligible amount of Wolfshag ore being mined in 2018,” the report stated.
According to the miner, for full-year 2018, Otjikoto’s cash operating costs are forecast to be within its guidance range of between $480 and $525 per ounce and AISC are forecast to be at the upper end of the guidance range of between $700 and $750 per ounce
Meanwhile, the mining company in a statement said the Otjikoto Mine is forecast to produce between 165,000 and 175,000 ounces of gold in 2019, primarily from the Otjikoto Pit, at cash operating costs of between $520 and $560 per ounce and AISC of between $905 and $945 per ounce.
“In 2019, Otjikoto is budgeted to process a total of 3.4 million tonnes of ore at an average grade of 1.57 g/t and process gold recovery of 98%,” the company added.