Capital expenditures for the second quarter of 2023 at B2Gold’s Otjikoto Mine in Namibia totalled US$16 million (about N$299 million), consisting of US$13 million (about N$243 million) for pre-stripping in the Otjikoto pit and US$2 million (about N$38 million) for Wolfshag underground mine development.
B2Gold is executing another year of extensive exploration in 2023 with an increased budget of approximately US$84 million (original budget of US$64 million). A significant focus will be in proximity to its operating mines in Mali, Namibia and the Philippines, as well as US$20 million of spending on both infill and generative exploration at the recently acquired Back River Gold District.
The Otjikoto Mine in which the Company holds a 90% interest, performed well during the second quarter of 2023, producing 44,056 ounces of gold.
“As a result of the timing of higher-grade ore mining, Otjikoto’s annual gold production is expected to be 60% weighted to the second half of 2023, when mining is scheduled to reach the higher-grade portions of Phase 4 of the Otjikoto pit coupled with higher production from the Wolfshag underground mine. For the second quarter of 2023, mill feed grade was 1.59 g/t, mill throughput was 0.88 million tonnes, and gold recovery averaged 98.7%,” said Clive Johnson, President and Chief Executive Officer of B2Gold.