• Mining
Thursday, July 3, 2025
Mining and Energy Namibia | Namibia’s Leading Mining & Energy News
NEWSLETTER
No Result
View All Result
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc
No Result
View All Result
Mining and Energy Namibia | Namibia’s Leading Mining & Energy News
No Result
View All Result
Home Gold

Otjikoto Mine exceeds Q3 gold production targets with 52,131 ounces

editor by editor
November 7, 2024
in Gold
8 18
A A
0

B2Gold says its Otjikoto Mine outperformed production expectations, delivering 52,131 ounces of gold in the third quarter of 2024. 

According to the company’s quarterly review, this achievement was driven by higher-than-anticipated mill feed grades and increased mill throughput.

“For the third quarter of 2024, mill feed grade was 1.88 g/t, mill throughput was 0.87 million tonnes, and gold recovery averaged 98.8%. Ore production from the Wolfshag underground mine for the third quarter of 2024 averaged over 1,800 tonnes per day at an average grade of 3.64 g/t gold,” the report read.

B2Gold committed a N$17.7 million (C$1 million) investment toward developing the Wolfshag underground mine at the Otjikoto Mine site in Namibia. 

“Capital expenditures for the third quarter of 2024 totalled C$1 million for Wolfshag underground mine development,” the review read.

The company reported that cost efficiency also improved during the quarter, with cash operating costs reduced to N$12,930 (C$740) per ounce of gold produced.

All-in sustaining costs were similarly optimised, coming in at N$15,656 (C$896) per ounce, well below initial projections, driven by a combination of lower production costs and increased gold sales volume.

Furthermore, B2Gold’s continued development of Wolfshag and its capital investments are projected to support Otjikoto Mine’s long-term output targets.

Looking ahead, the company anticipates producing between 185,000 and 205,000 ounces of gold at the Otjikoto site by the end of 2024. 

“The Otjikoto Mine is expected to produce between 185,000 and 205,000 ounces of gold in 2024 at cash operating costs of between C$685 and C$745 per ounce and all-in sustaining costs at or below the lower end of its guidance range of between C$960 and C$1,020 per ounce,” the company said. 

Additionally, exploration and development initiatives around the Antelope deposit’s Springbok Zone, located south of the main Otjikoto site, are ongoing, with a preliminary economic assessment (PEA) expected in early 2025.

If successful, this project could enhance Otjikoto’s production potential until 2031, extending the mine’s productive future and contributing to B2Gold’s broader operational goals.

“The Antelope deposit has the potential to supplement the processing of low-grade stockpiles at the Otjikoto Mine until 2031, with the goal of increasing gold production levels to over 100,000 ounces per year from 2026 to 2031,” the review reads.

author avatar
editor
See Full Bio
Share370Tweet232

Related Posts

Osino awards N$416m contract to Metso for Twin Hills Project
Gold

Osino awards N$416m contract to Metso for Twin Hills Project

  Osino Resources has awarded a N$416 million (€20 million) contract to global process technology supplier Metso for the supply...

July 1, 2025
Namibia to rely on global refiners for gold reserve purity
Gold

Namibia to rely on global refiners for gold reserve purity

  The Bank of Namibia says the absence of a domestic gold refinery will not hinder its plan to acquire...

June 30, 2025

Recommended

Namibia urged to leverage uranium for domestic power generation

Namibia urged to leverage uranium for domestic power generation

1 year ago
Vivo Energy names TotalEnergies veteran as CEO designate

Vivo Energy names TotalEnergies veteran as CEO designate

4 years ago
Load More

Newsletter

Black transparent logo for dark mode

About Us

The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors

Categories

  • Copper
  • Diamonds
  • Energy
  • Gold
  • Green Hydrogen
  • Lithium
  • Mining
  • Namibia
  • News
  • Oil & Gas
  • Opinions
  • Tin
  • Uranium
  • Zinc

Get in touch

Email:newsdesk@miningandenergy.com.na

© 2024 Mining and Energy | All Rights Reserved. The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc

© 2024 Mining and Energy | All Rights Reserved. The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors.