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Namibia

Otjikoto Mine

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Overview

Mine TypeOpen Pit & Underground
StatusActive
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
  • Transverse open stoping
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SnapshotThe Otjikoto is comprised of Otjikoto and Wolfshag open pits and Wolfshag underground mines.

Development of the Wolfshag underground mine commenced in late 2020, and ore production commenced in the second half of 2022.

Open pit mining operations at the Otjikoto Mine are scheduled to ramp down in 2024 and conclude in 2025, while processing operations will continue until economically viable stockpiles are exhausted in approximately 2031. Underground operations are currently projected to continue until 2026 with potential to extend underground operations if the ongoing underground exploration program is successful in identifying more underground mineral deposits.

Owners

SourceSource
CompanyInterestOwnership
EVI Mining (Proprietary) Ltd. 10 % Indirect
B2Gold Corp. 90 % Indirect
B2Gold Namibia (Pty) Ltd. (operator) 100 % Direct
B2Gold Namibia is a joint operation between a Canadian company, B2Gold, that holds 90% shares, and local mining company, EVI Mining, with 10% shares.

Contractors

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Deposit type

  • Vein / narrow vein
  • Orogenic

Summary:

The Otjikoto deposit is located within the Damara Mobile Belt, within the northern portion of the northeasterly-striking “Intracratonic Branch” of the belt and is an example of an orogenic-style gold deposit. The Otjikoto area is predominantly underlain by lithologies belonging to the Neoproterozoic Swakop Group. The Okonguarri Formation hosts the gold mineralization and is overlain and underlain by glacial diamictite horizons of the Ghaub and Chuos Formations, respectively. The Okonguarri Formation consists primarily of thick units of dark grey carbonaceous marble, biotite-schist, graphitic schist, and calc- silicate horizons. The schist units are derived from semi-pelitic, pelitic, marl and psammitic units in a turbiditic sedimentary package. The rocks in the Otjikoto area have experienced at least three phases of moderate to tight folding and some thrust faulting. They have also been affected by extensive metasomatism, followed by prograde regional metamorphism that has reached upper greenschist to lower amphibolite facies. Mineralization in the main Otjikoto deposit is hosted by a north–northeast striking sheeted sulphide (+ magnetite)– quartz + carbonate vein system that has a strike length of about 2.6 km and extends at depth to at least 475 m below surface. The gold occurs in a series of thin (commonly <10 cm) sheeted veins in the Upper and Middle Okonguarri Formation. The veins and associated mineralization form a series of en-echelon zones oriented at approximately 010–020° north–northeast and plunging at 10–15° (average 12°) to the south–southwest. Vein concentrations range from one to 30 veins per metre, with a higher vein concentration within the Central and West shoots. Gold occurs within the vein system as coarse native gold particles that can vary from 5–400 µm, averaging about 100 µm in size. Mineralization remains open down plunge as presently tested. Mineralization in the adjacent Wolfshag deposit occurs as a series of south-southwest-plunging shoots of mineralization coincident with the hinge zones of the tight folding of several marble and metasedimentary horizons. Mineralization is associated with generally concordant (bedding parallel) vein zones that are principally hosted within an altered meta-sandstone unit. The mineralized zone is about 2.1 km long and has been followed with drilling for about 2,000 m down plunge to a depth of 750 m below surface. The deposit consists of a series of fold-duplicated mineralized zones alphabetically subdivided from WA to WE into either west–northwest or east–southeast-verging fold closure zones. HG shoots within the mineralised zones are associated with parasitic folds occurring within the larger fold structure. The shoots plunge at 15° to 20° to the south–southwest, sub-parallel to the Otjikoto deposit shoots. Gold mineralization can be vein-hosted or represent replacement or disseminated styles. Mineralization at both Otjikoto and Wolfshag zones remains open at depth down plunge to the southwest. The OTG shoot was identified as a down dip extension of the Otjikoto OTC Zone, which hosts the Otjikoto deposit. The geometry, continuity, and grade potential of the OTG shoot was tested with several core drill holes in 2021. Gold is associated with pyrrhotite, pyrite and magnetite and hosted in chlorite- and garnet-bearing quartz–carbonate veins. The geometry is similar to that of the high-grade shoots of Otjikoto and Wolfshag and is associated with parasitic folds. Continuity was proven over 800 m strike length. The shoot occurs within 150 m of the Wolfshag underground development. The OTG shoot plunges at 15–20° to the south–southwest, sub-parallel to the Wolfshag ore shoots.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnits202320222021202020192018201720162015
Gold oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe177,966167,346191,534166,285145,723
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.

Operational metrics

Metrics202320222021202020192018201720162015
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe3,415,475 t3,445,932 t3,492,285 t3,468,488 t2,834,399 t
Annual milling capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe3.1 Mt3.1 Mt3.1 Mt2.5 Mt
^ Guidance / Forecast.

Production Costs

CommodityUnits2023202220212020201920182017
Cash costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 461 / oz **   502 / oz **   468 / oz **  
Total cash costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 525 / oz **   559 / oz **  
Total cash costs Gold USD 553 / oz **   512 / oz **  
All-in sustaining costs (sold) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 895 / oz **   724 / oz **  
All-in sustaining costs (AISC) Gold USD 719 / oz **   715 / oz **  
^ Guidance / Forecast.
** Net of By-Product.

Operating Costs

Currency2016
OP mining costs ($/t mined) USD 1.54  
OP mining costs ($/t milled) USD
Processing costs ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD

Financials

Units2023202220212020201920182017
Capital expenditures (planned) M USD  ....  Subscribe
Capital expenditures M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 56.1   50.8   41.2  
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 247.3   213.1   235.9  
After-tax Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 36.9   6.4   46.9  

Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 15, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 15, 2023
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....................... Subscription required ....................... Subscription required Subscription required Aug 18, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 15, 2023
....................... Subscription required ....................... Subscription required Subscription required Apr 15, 2023

EmployeesYear
...... Subscription required 2022

Aerial view:

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