B2Gold’s Otjikoto mine officially opened

OTJIWARONGO – President Hage Geingob on Monday officially opened the Otjikoto Gold Mine owned by B2Gold Namibia.

The mine is situated approximately 70 kilometres north of Otjiwarongo on the road to Otavi in the Otjozondjupa region.

Geingob, in his brief official remarks, commended the management of B2Gold for accelerating mining activities in the country.

“I did not expect to see development like this at a place I used to know as just bush. I used to pass through that bush going to my cousin’s farm those days. This is a milestone in job creation, wealth and economic emancipation for our country,” Geingob said.

The President said it is a fact that Namibia is rich in resources like gold and uranium, but a lot needs to be done to satisfy the expectations of those Namibians who voted him into power.

He said the people who voted for him often say they do not eat uranium, gold, roads and other physical infrastructure. “They always say they eat food, need houses, education and clothes.”

Geingob urged local and foreign investors to continue paying royalties and taxes to government, so that it can build more schools for the electorate, build them houses, and take care of their basic needs.

B2Gold Namibia’s managing director Mark Dawe said the company’s management is excited to witness the official opening of the Otjikoto Mine. Dawe said his company employs close to 700 workers at the mine.

B2Gold Namibia is a joint operation between a Canadian company, B2Gold, that holds 90% shares, and local mining company, EVI Mining, with 10% shares. The chairperson of B2Gold Namibia, Leake Hangala, said the Otjikoto gold mine celebrated its first gold pouring on 11 December 2014 and achieved its commercial production in February this year. It is the second gold mine in Namibia after Navachab near Karibib in the Erongo region.

According to the B2Gold website, for 2015, the Otjikoto gold mine is expected to produce between 140 000 and 150 000 ounces of gold at a cash operating cost of approximately US$500 per ounce and all in sustaining costs of approximately US$700 per ounce. Once the planned mill expansion is completed in the third quarter of 2015, the company expects annual gold production to increase to approximately 200 000 ounces in 2016 and 2017.

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