B2Gold’s Otjikoto Mine near Otavi took strides in 2022 to decreasing its energy usage by connecting to the Namibian grid, which is estimated to reduce annual power generation emissions by more than 30% due to renewable energy sources within the Namibian grid.
The company said in its Annual Responsible Mining Report that overall, the proportion of electricity generated from renewable sources increased significantly to 14.3% in 2022 from 9.5% in 2021, for consolidated operations.
The Otjikoto Mine is expected to produce between 190,000 and 210,000 ounces of gold in 2023 at cash operating costs of between US$590 and US$650 per ounce and all-in sustaining costs of between US$1,080 and US$1,140 per ounce.
For 2023, Otjikoto is expected to process a total of 3.4 million tonnes of ore. The report said in the first half of 2023, processed ore will be sourced from the Otjikoto pit and the Wolfshag underground mine, supplemented by existing medium and high grade ore stockpiles.
“Otjikoto’s gold production is expected to be weighted approximately 60% to the second half of 2023 due to the timing of high grade ore mining from the Otjikoto pit and increased ore volumes from the Wolfshag underground mine. The anticipated decrease in Otjikoto’s all-in sustaining costs for 2023 reflects the benefits of processing higher grade ore from the Otjikoto pit and the Wolfshag underground mine in the second half of 2023,” the report said.
B2Gold is conducting another year of extensive exploration in 2023 with a budget of approximately US$84 million. A significant focus will be in proximity to its operating mines in Mali, Namibia and the Philippines, and includes US$20 million of spending on both infill and generative exploration at the recently acquired Back River Gold District.
The report said ongoing exploration will continue to advance its early stage projects in Finland and Cote d’Ivoire.
“Target generation and pursuing new opportunities in prospective gold regions in Africa, South America, the Philippines, Central Asia and Canada continue. This generative initiative could include equity placements and new joint ventures with junior companies, similar to B2Gold’s 2023 investment in Snowline and its Rogue project in the Yukon, Canada, and its 2022 investment in Matador Mining Ltd. and its Cape Ray Gold project in Newfoundland, Canada,” the report said.
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines and numerous exploration and development projects in various countries including Canada, Mali, Colombia, Finland and Uzbekistan. B2Gold forecasts total consolidated gold production of between 1,000,000 and 1,080,000 ounces in 2023.