Otjikoto gold mine expects to produce between 185,000 and 200,000 ounces of gold this year, generating revenues in excess of US$600 million.
B2Gold Namibia Country Manager John Roos said this projection underscores another record year for the mine and the country.
Roos spoke last week during the launch of a new 10 MW solar power project near Otjiwarongo, marking the first wheeling initiative of its kind in Namibia.
Over the past five years, Otjikoto has consistently delivered strong output, averaging around 170,000 to 180,000 ounces annually.
In 2023, the mine produced just over 170,000 ounces, while in 2024, production rose to nearly 190,000 ounces, reaching the upper end of its guidance.
With 2025 forecasts pushing up to 200,000 ounces, Otjikoto is firmly entrenched as one of Namibia’s most reliable gold producers, with output that has steadily strengthened since its first pour in December 2014.
However, the mine’s open-cast operations are now in a gradual ramp-down phase as accessible ore bodies are depleted.
B2Gold has already flagged a shift in focus from active mining to processing stockpiles, which will sustain production for several years to come.
This transition underscores both the maturity of the Otjikoto deposit and the importance of reinvesting in new energy and efficiency measures, such as the solar project, to extend the mine’s economic life and reduce costs in its later years.
The facility, built on Maxwell Farm, was developed in partnership with Sustainable Power Solutions (SPS) and will supply renewable energy directly to Otjikoto through NamPower’s grid.
The project, valued at about N$200 million, is designed to generate 26,360 MWh per year and has already been synchronised to the national grid.
Under the wheeling arrangement, SPS injects electricity at Maxwell Farm while B2Gold draws down an equivalent amount at the mine, offsetting its demand with clean energy.
Roos said the initiative reflects B2Gold’s strategy of managing costs through the use of renewable energy. “We don’t manage the gold price; we manage our costs. And that’s why we need to focus on renewables to get our cost curve down even more,” he told guests.
For B2Gold, the shift forms part of its global target to cut greenhouse gas emissions by 30 per cent by 2030 compared to 2021 levels.
Otjikoto consumes about 14 to 15 MW of electricity continuously, making power a significant cost centre.
By sourcing part of its demand from solar energy, the mine expects to reduce both costs and exposure to volatile fuel prices.
SPS, a South Africa-headquartered renewable developer with a growing Namibian presence, specialises in utility-scale and industrial solar projects and has completed more than 65 MW of installations across southern Africa. For the Otjikoto project, SPS partnered with Fortitude Property Group and the Oelofse family, who provided the land at Maxwell Farm.
The launch also marked a milestone for Namibia’s power sector. Under the traditional Single Buyer model, NamPower controlled all electricity sales and purchases.
The Modified Single Buyer (MSB) framework now allows private producers to wheel power through the grid to large customers, enabling consumers such as mines to source up to 30 per cent of their demand from independent producers.
Roos reflected on the mine’s energy journey since it poured its first gold in December 2014, when Otjikoto was powered entirely by heavy fuel oil generators, burning 20 to 24 million litres annually.
“That’s massive. Now, you can also consider the environmental impact and associated costs. We asked ourselves, what can we do? How do we begin this transition to gradually ease ourselves off HFO and eventually be 100 per cent green,” he said.
In 2018, B2Gold invested N$115 million to construct a 7 MW solar plant on-site.
“To be quite honest, I probably put out about 35 feasibility studies. Nothing worked because the gold price was trading at US$1,000 per ounce at the time. But we were persistent as Namibians, and eventually our corporate office said, Well, let’s just do it. We’re not going to do it for cost savings. It’s the right thing to do,” Roos recalled.
That first step proved successful, paving the way for the new wheeling project.
After extensive feasibility work and regulatory approvals with NamPower, Otjikoto became the first mine in Namibia to integrate off-site renewable energy into its supply.
Roos also highlighted the company’s broader environmental commitments, countering perceptions that gold miners leave behind only scars.
“So many Namibians think gold mining companies come into the country, dig a big black hole, take the minerals, take the money out of the country, and they leave. The words they actually use are they say ‘and then they pack up and go,’ which is not true,” he said.
He pointed to the rehabilitation work that had already been completed at Otjikoto.
“These are some of the rehabilitation slopes on the mine. You can see oryx wandering there. This was a pile of rock a couple of years ago; it is now fully rehabilitated. When you happen to drive up here in a couple of years, you’re going to see a beautiful mountain with lots of trees on the ground that came out of the earth, and we extracted the gold.”
By the end of 2025, B2Gold’s rehabilitation obligations at Otjikoto will be fully funded, ensuring that there will be no future financial burdens when the mine eventually closes. The Maxwell solar plant is expected to offset about 26,360 tonnes of CO₂ annually, reinforcing B2Gold’s status as a leader in mining decarbonisation.
