Otjikoto gold mine on two-year closure plan
The Otjikoto gold mine, operated by Canadian-based B2Gold, is set for a two-year closure plan due to the depletion of open-pit gold ore reserves, as announced on Tuesday at a media engagement.
John Roos, B2Gold’s country manager, outlined their strategy for a gradual winding-down process that ensures fairness to the workforce while aiming for a more streamlined workforce during the shift to underground mining operations.
“We have invested significantly in exploration, approximately N$40 million, to explore avenues for extending the mine’s lifespan beyond 2030. Our focus for underground mining will involve maintaining a workforce of 250 individuals, ensuring profitability,” Roos stated.
Anticipating the depletion of gold ore resources from the open pit, Roos highlighted the company’s preparedness for this situation.
“We acknowledge that mines have finite lifespans, and over the past decade, our contributions through taxation and royalties have been significant to Namibia. Although the underground resources won’t match the scale of the open pit we’ve utilized for a decade, we’re optimistic about finding resources underground,” he expressed.
Dr Leake Hengala, the company’s board chairperson, affirmed their commitment to transparent operations in Namibia. Hengala assured stakeholders of ongoing communication regarding the closure plans and the associated processes.
