B2Gold says the Springbok Zone of the Antelope deposit is estimated to contain 1.75 million tonnes grading 6.91 g/t gold, hosting approximately 390,000 ounces of contained gold.
These figures come from the company’s February 2025 Preliminary Economic Assessment (PEA), which projects a life-of-mine after-tax free cash flow of US$185 million, an NPV (5%) of US$131 million, and an IRR of 35 percent, with US$129 million in pre-production capital and a 1.3-year payback period.
According to the Environmental Clearance Certificate (ECC) documents released in October 2025, the proposed underground expansion at the Otjikoto Gold Mine will sustain Namibia’s gold output beyond 2028, deepen B2Gold’s economic footprint, and preserve hundreds of jobs in the north-central region.
The project forms part of the company’s long-term plan to strengthen Otjikoto’s role as a key pillar of Namibia’s mining sector.
The Otjikoto Gold Mine, about 70 kilometres northeast of Otjiwarongo and 50 kilometres southwest of Otavi, has been a cornerstone of Namibia’s gold industry since its first gold pour in December 2014 and commercial production in February 2015.
It operates under Mining Licence 169, granted after environmental clearance by the Ministry of Environment, Forestry and Tourism (MEFT) in 2012.
Since then, the mine has undergone several ECC amendments—most notably in 2017, when its heavy-fuel-oil power plant was replaced by a solar facility commissioned in 2018, and in 2020, when underground mining was incorporated. The current ECC remains valid until March 2026.
The mine includes the Otjikoto open pit and the Wolfshag deposit, which transitioned to underground mining in 2021. Together, they feed a 3.4 million-tonne-per-year processing plant, producing gold bars for export.
Exploration within the existing licence area led to discovery of the Antelope deposit, a high-grade orebody located near existing operations.
B2Gold now seeks approval to construct supporting surface infrastructure, including ventilation shafts, dewatering boreholes, haul roads, a new waste-rock dump, and auxiliary facilities such as a batch plant, workshop and fuel bay.
The ECC-amendment process is being managed by SLR Consulting (Namibia) under the Environmental Management Act (No. 7 of 2007) and the 2012 EIA Regulations.
The Draft EIA Report is open for public comment from 17 to 31 October 2025, with copies available at the Otavi and Otjiwarongo public libraries.
Since 2015, B2Gold has contributed an estimated N$19.5 billion to the Namibian economy, maintained a 95 percent Namibian workforce, achieved 76 percent local procurement in 2022, and invested over N$123 million in community initiatives.
SLR’s assessment, detailed in the ECC documentation, examined biophysical, cultural and socio-economic effects using standardised criteria that weigh intensity, extent, duration and probability.
The findings show that post-mitigation impacts range from highly positive to medium negative.
A comparison with the 2012 and 2019 EIAs confirms that the revised project will not increase adverse impacts. Instead, the new layout and extended mine life are expected to enhance positive contributions to employment and revenue.
All potential impacts can be reduced to acceptable levels through the Environmental Management Plan (EMP), which prescribes ongoing monitoring, auditing and compliance measures.
SLR concluded that no fatal flaws exist to render the project unfeasible and recommended that it proceed, given its strong socio-economic and fiscal benefits.
The EIA process emphasises stakeholder engagement. Interested and affected parties may submit comments by 31 October 2025 via otjikoto@slrconsulting.com
The EIA process, led by SLR Consulting (Namibia), emphasises public consultation.
Interested and affected parties may submit written feedback by 31 October 2025 via otjikoto@slrconsulting.com
