B2Gold Corp has increased its 2025 gold production guidance for Otjikoto Mine to 185,000–205,000 ounces, up from the previous range of 165,000–185,000 ounces, after reporting stronger-than-expected ore tonnes and higher grades from the final stages of open-pit mining.
The Vancouver-based gold producer said the improved reconciliations have provided larger stockpiles of ore than anticipated, enabling Otjikoto to deliver at the top end of its performance as surface mining winds down.
At the same time, B2Gold has approved the development of the Antelope underground deposit, with pre-production capital costs reduced from an earlier estimate of US$129 million to US$105 million. Most of the capital expenditure is expected to occur in 2026 and 2027, with Antelope anticipated to sustain Otjikoto’s output by adding approximately 110,000 ounces of gold per year over the life of the underground mine.
The move secures Otjikoto’s future as one of Namibia’s most significant gold operations. Since opening in 2015, the mine has been a key contributor to local employment, procurement, and government revenue, and its transition underground is expected to prolong that impact.
B2Gold, which also operates mines in Mali, the Philippines, and Canada, reaffirmed its consolidated 2025 gold production forecast of 970,000–1,075,000 ounces across its portfolio.
Clive Johnson, the company’s president and CEO, said the operational gains at Otjikoto reflect both the quality of the deposit and the effectiveness of the company’s optimisation strategy.
