#JustIn: Otjikoto gold mine starts closing down

B2Gold Namibia, owner of the Otjikoto gold mine, has started with the implementation of its phased mine closure plan.

The Life of Mine (LoM) Plan indicates a current lifetime (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, B2 Gold said in a statement.

Based on the most recent LoM, the open pit end of life will likely be the end of 2024, with only 50% mining tonnage capacity required in 2024.

Accordingly, the last year of full open pit mining production will be 2023, B2Gold said.

The company has considered alternative options to retrenchment. “However, given the LoM, these are not viable and sustainable. Retrechments will be based on the ramp-down schedule and operational requirements,” B2Gold said.

The retrenchment policy and criteria are currently unavailable, as consultations with the Mine Workers Union of Namibia (MUN) have not been finalised.

“The company is committed to negotiating in good faith and being transparent with our communication and will share more information with the media as it becomes available,” B2Gold said.