B2Gold Namibia, which over the past few months had battled worker unrest and uncertainty over the future of the Otjikoto Mine due to its limited gold resource, will commence with a phased mine closure process.
The mine’s most recent approved life of mine plan (LoM) indicates a current mine life (including the processing of low-grade stockpiles) of approximately nine years (beginning 2023) – unless a significant open pit discovery or extension to the underground reserves is discovered.
“Based on the LoM, the open pit end of life will likely be the end of 2024, with open pit mining output ramping down to 50% of production capacity in 2024.
“The processing and milling of low-grade stockpiles will continue until approximately 2031 (provided that this activity is proven to be economically viable),” Barnard said.
He added that B2Gold remains committed to the Otjikoto Mine, and continues to invest a considerable amount of money in exploration activities around the mine, with the hopes that the project’s life can be extended.