Otjikoto Mine – Namibia (1)
The Otjikoto Mine is located in the north-central part of Namibia, approximately 300km north of the country’s capital, Windhoek. Otjikoto is the largest gold producer in the country.
Click here for mine/project location map.
B2Gold acquired the Company’s first African gold development project, the Otjikoto Gold Project, through a merger with Auryx Gold Corp. in December 2011. The Company received the Otjikoto Mining Licence in December 2012, and construction of the Otjikoto Mine commenced in April 2013. Within approximately 19 months, the first gold pour occurred on December 11, 2014, ahead of schedule, and the Otjikoto Mine made history as one of the fastest-moving mine construction projects in the country. Otjikoto achieved commercial production on February 28, 2015, also ahead of schedule.
Click here for Otjikoto Mine overview.
Recent Updates:
Second Quarter ("Q3") 2020 Performance Snapshot:
- Gold production(2): 42,591 oz
- Cash operating costs(3): $423 /oz sold
- All-in sustaining costs ("AISC")(3): $917 /oz sold
- Gold revenue: $80 K
- Gold sales: 46,500 oz
- Average realized gold price: $1,911 /oz
Full-year 2020 (“FY”) Guidance :
- Gold production(2): 165 Koz - 175 Koz
- Cash operating costs: $480 - $520 /oz
- AISC: $1,010 - $1,050 /oz
Click here for B2Gold's Q2 2020 Earnings news release (dated August 5, 2020)
Health, Safety & Environment:
- As at June 1, 2020, Otjikoto had:
- Zero lost time incident rate
- 100% reduction in total recordable incident rate
- 797 days lost time injury free (March 27, 2018)
- Zero injury severity rate
Click here for B2Gold's 2019 Responsible Mining Report, Raising the Bar
Mine/Project Location Map:
Mine Overview (as at June 30, 2020):
FY 2020 Guidance Production, Costs, Revenue & Sales: | |
Gold production | 165 Koz - 175 Koz |
Cash operating costs | $480 - $520 /oz |
AISC | $1,010 - $1,050 /oz |
FY 2019 Production, Costs, Revenue & Sales: | |
Gold production | 177,966 oz |
Cash operating costs | $468 /oz sold |
AISC | $895 /oz sold |
Gold revenue | $247,251 |
Gold sales | 175,100 oz |
Average realized gold price | $1,412 /oz |
FY 2020 Guidance Processing: | |
Projected tonnes of ore milled (budget) | 3.4 M |
Projected grade (budget) | 1.55 g/t |
Projected recovery (budget) | 98% |
FY 2019 Processing: | |
Tonnes of ore milled | 3.4 M |
Grade | 1.64 g/t |
Recovery | 98.7% |
General Information: | |
Location | Namibia |
Mine type | Open pit |
Ownership(4) | 90% |
Metals mined | Gold |
Processing plant | Cyanide leach/Carbon-in-pulp process, Gravity circuit |
Power | Heavy fuel oil power plant with diesel powered back-up/Photovoltaic solar power plant (100% self-generated) |
Total number of employees(5) | 900 |
Local employee workforce(5) | 98.6% |
Mineral Reserve & Resource Estimates (Contained Gold) –100% Project Basis: | |
Probable Mineral Reserves(6) | 0.96 Moz |
Indicated Mineral Resources(6) | 1.46 Moz |
Inferred Mineral Resources(6) | 0.37 Moz |
2020 Exploration Budget | |
Namibia (Otjikoto/Regional/Ondundu) | $4 M |
Supporting Documents:
For the latest details and news releases pertaining to the Otjikoto Mine:
- Click here for B2Gold's Q3 and YTD Earnings news release (dated November 3, 2020)
- Click here for B2Gold's Quarterly Gold Production of 263,813 Oz and Record Quarterly Revenue of $487 M for Q3 2020; On Track to Meet Annual Production Guidance of 1,000,000 to 1,055,000 Oz news release (dated October 15, 2020)
- Click here for B2Gold's Q2 2020 Earnings news release (dated August 5, 2020)
- Click here for B2Golds COVID-19 Contribution news release (dated July 22, 2020)
- Click here for B2Gold's Q2 and FH 2020 Production news release (dated July 13, 2020)
- Click here for B2Gold's Q1 2020 Earnings news release (dated May 5, 2020)
- Click here for B2Gold's COVID-19 Financial Support to Charities & Governments news release (dated April 22, 2020)
For a more detailed overview of the Otjikoto Mine, please refer to the following most recent company documents:
- Click here for B2Gold's Q3 2020 Management Discussion & Analysis ("MD&A") (dated September 30, 2020)
- Click here for B2Gold's Q3 2020 MD&A (dated September 30, 2019)
- Click here for B2Gold's Q3 2020 Financial Statements (dated September 30, 2020)
- Click here for B2Gold's Q3 2020 Financial Statements (dated September 30, 2019)
- Click here for B2Gold's Q2 2020 MD&A (dated June 30, 2020)
- Click here for B2Gold's Q2 2019 MD&A (dated June 30, 2019)
- Click here for B2Gold's Q2 2020 Financial Statements (dated June 30, 2020)
- Click here for B2Gold's Q2 2019 Financial Statements (dated June 30, 2019)
- Click here for B2Gold's 2020 Annual Information Form ("AIF") (dated March 20, 2020)
Mineral Resource & Mineral Reserve Estimates:
Otjikoto Indicated Mineral Resources Statement:
100% Project Basis | Attributable Ownership Basis | ||||||
Area | Tonnes
(x 1,000) |
Gold Grade
(g/t Au) |
Contained Gold Ounces (x 1,000) |
Ownership
Percentage |
Tonnes
(x 1,000) |
Gold Grade
(g/t Au) |
Contained Gold Ounces (x 1,000) |
Otjikoto Open Pit | 19,200 | 1.04 | 640 | 90 | 17,300 | 1.04 | 580 |
Wolfshag Open Pit | 3,300 | 2.52 | 270 | 90 | 3,000 | 2.52 | 240 |
Wolfshag Underground | 1,100 | 8.29 | 290 | 90 | 1,000 | 8.29 | 260 |
ROM Stockpiles | 3,600 | 0.82 | 100 | 90 | 3,300 | 0.82 | 90 |
LG Stockpile | 12,000 | 0.43 | 170 | 90 | 10,800 | 0.43 | 150 |
Total Indicated | 39,200 | 1.16 | 1,460 | 90 | 35,300 | 1.16 | 1,310 |
Otjikoto Inferred Mineral Resources Statement:
100% Project Basis | Attributable Ownership Basis | ||||||
Area | Tonnes
(x 1,000) |
Gold Grade
(g/t Au) |
Contained Gold Ounces (x 1,000) |
Ownership
Percentage |
Tonnes
(x 1,000) |
Gold Grade
(g/t Au) |
Contained Gold Ounces (x 1,000) |
Otjikoto Open Pit | 2,100 | 0.94 | 60 | 90 | 1,900 | 0.94 | 60 |
Wolfshag Open Pit | 1,000 | 0.89 | 30 | 90 | 900 | 0.89 | 30 |
Wolfshag Underground | 1,400 | 6.28 | 280 | 90 | 1,200 | 6.28 | 250 |
Total Inferred | 4,500 | 2.55 | 370 | 90 | 4,100 | 2.55 | 330 |
Otjikoto Probable Mineral Reserves Statement:
100% Project Basis | Attributable Ownership Basis | ||||||
Area | Tonnes
(x 1,000) |
Gold Grade
(g/t Au) |
Contained Gold Ounces (x 1,000) |
Ownership
Percentage |
Tonnes
(x 1,000) |
Gold Grade
(g/t Au) |
Contained Gold Ounces (x 1,000) |
Otjikoto Open Pit | 9,500 | 1.26 | 390 | 90 | 8,500 | 1.26 | 350 |
Wolfshag Open Pit | 3,100 | 2.60 | 260 | 90 | 2,800 | 2.60 | 240 |
Wolfshag Underground | 1,200 | 5.57 | 210 | 90 | 1,100 | 5.57 | 190 |
ROM Stockpiles | 3,600 | 0.82 | 100 | 90 | 3,300 | 0.82 | 90 |
Total Probable Reserves | 17,500 | 1.70 | 960 | 90 | 15,700 | 1.70 | 860 |
For more information on Otjikoto's Mineral Reserves & Resource Estimates, click here for B2Gold's 2020 AIF (pages 45 - 48)