RAMPING DOWN: Despite announcing a planned slow-down in open-pit mining operations, B2Gold's Otjikoto mine exceeded production in the first quarter of the year. Photo: Contributed
RAMPING DOWN: Despite announcing a planned slow-down in open-pit mining operations, B2Gold's Otjikoto mine exceeded production in the first quarter of the year. Photo: Contributed

Otjikoto mine exceeds production

Ogone Tlhage
B2Gold’s Otjikoto gold mine exceeded expectations in the first quarter of 2024, achieving higher-than-expected gold production.

“A total of 45 416 ounces of gold were mined above expectations as a result of higher-than-anticipated mill feed grade. For the first quarter of 2024, mill feed grade was 1.74 grams per tonne (g/t) gold, mill throughput was 0.83 million tonnes and gold recovery averaged 98.5%,” the company said in a quarterly report.

Ore production from the Wolfshag underground mine for the first quarter of 2024 averaged over 1 500 tonnes per day at an average grade of 4.06 g/t gold, it said.

“As of the beginning of 2024, the probable mineral reserve estimate for the Wolfshag deposit included 100 000 ounces of gold in 0.6 million tonnes of ore at an average grade of 5.02 g/t gold,” B2Gold said.

The Canadian mining group announced the planned ramp-down of open-pit mining operations throughout 2024, as it gears toward underground mining operations.

“Open-pit mining operations at the Otjikoto mine will continue to ramp down in 2024 and conclude in 2025, while processing operations are expected to continue until economically viable stockpiles are exhausted in 2031.

“Underground operations are currently projected to continue until 2026, with potential to extend underground operations if the ongoing underground exploration programme is successful in identifying more underground mineral deposits,” it added.

On 31 January, the company announced positive exploration drilling results from the Antelope deposit at the Otjikoto mine.

“The Antelope deposit has the potential to be developed as an underground mining operation, which could complement the expected processing of low-grade stockpiles at the Otjikoto mill from 2026 through 2031,” B2Gold said.

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Namibian Sun 2024-05-27

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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 355.76/OZ UP +0.79% | Copper US$ 4.81/lb UP +1.64% | Zinc US$ 3 077.30/T UP 0.19% | Brent Crude Oil US$ 83.02/BBP UP +0.83% | Platinum US$ 1 053.42/OZ UP +2.26% Sport results: LaLiga: Sevilla 1 vs 2 Barcelona | Celta Vigo 2 vs 2 Valencia | Las Palmas 1 vs 1 Deportivo Alaves | Getafe 1 vs 2 Mallorca | Real Madrid 0 vs 0 Real Betis | Almería 6 vs 1 Cadiz | Rayo Vallecano 0 vs 1 Athletic Club | Real Sociedad 0 vs 2 Atletico Madrid | Osasuna 1 vs 1 Villarreal | Girona 7 vs 0 Granada SerieA: SS Lazio 1 vs 1 Sassuolo | Hellas Verona 2 vs 2 Inter Milan | Empoli 2 vs 1 AS Roma | Frosinone 0 vs 1 Udinese | Atalanta 3 vs 0 Torino | Napoli 0 vs 0 Lecce | AC Milan 3 vs 3 Salernitana | Juventus 2 vs 0 Monza | Genoa 2 vs 0 Bologna European Championships Qualifying: Leeds United 0 vs 1 Southampton FA Cup: Manchester City 1 vs 2 Manchester United English Championship: Leeds United 0 vs 1 Southampton Weather: Katima Mulilo: 11° | 30° Rundu: 11° | 30° Eenhana: 13° | 31° Oshakati: 14° | 30° Ruacana: 15° | 31° Tsumeb: 14° | 28° Otjiwarongo: 12° | 27° Omaruru: 14° | 29° Windhoek: 11° | 24° Gobabis: 12° | 25° Henties Bay: 17° | 25° Wind speed: 47km/h, Wind direction: NE, Low tide: 11:38, High tide: 05:37, Low Tide: 00:10, High tide: 18:15 Swakopmund: 16° | 18° Wind speed: 28km/h, Wind direction: NE, Low tide: 11:36, High tide: 05:35, Low Tide: 00:08, High tide: 18:13 Walvis Bay: 16° | 23° Wind speed: 34km/h, Wind direction: NE, Low tide: 11:36, High tide: 05:34, Low Tide: 00:08, High tide: 18:12 Rehoboth: 13° | 26° Mariental: 14° | 28° Keetmanshoop: 15° | 28° Aranos: 14° | 28° Lüderitz: 17° | 33° Ariamsvlei: 15° | 29° Oranjemund: 19° | 31° Luanda: 23° | 27° Gaborone: 11° | 24° Lubumbashi: 10° | 26° Mbabane: 10° | 23° Maseru: 6° | 21° Antananarivo: 9° | 21° Lilongwe: 11° | 26° Maputo: 17° | 27° Windhoek: 11° | 24° Cape Town: 14° | 24° Durban: 14° | 23° Johannesburg: 13° | 20° Dar es Salaam: 22° | 29° Lusaka: 14° | 24° Harare: 10° | 24° Economic Indicators: Currency: GBP to NAD 23.39 | EUR to NAD 19.9 | CNY to NAD 2.53 | USD to NAD 18.34 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.31 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.68 | ZWL to NAD 0.04 | BRL to NAD 3.56 | RUB to NAD 0.21 | INR to NAD 0.22 | USD to DZD 133.99 | USD to AOA 851.84 | USD to BWP 13.58 | USD to EGP 47.12 | USD to KES 132.48 | USD to NGN 1474 | USD to ZAR 18.34 | USD to ZMW 26.81 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79150.84 Up +0.25% | Namibian Stock Exchange (NSX) Overall Index 1748.47 Down -0.71% | Casablanca Stock Exchange (CSE) MASI 13370.7 Down -0.04% | Egyptian Exchange (EGX) 30 Index 27205.14 Down -0.08% | Botswana Stock Exchange (BSE) DCI 9141.35 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 355.76/OZ UP +0.79% | Copper US$ 4.81/lb UP +1.64% | Zinc US$ 3 077.30/T UP 0.19% | Brent Crude Oil US$ 83.02/BBP UP +0.83% | Platinum US$ 1 053.42/OZ UP +2.26%