Wedoany.com Report-Apr. 17, Canadian gold mining company B2Gold has outlined plans to reduce approximately 300 jobs at its Otjikoto gold mine in Namibia as it scales down operations due to the depletion of open-pit reserves. The mine, operational since March 2015, has been a key contributor to B2Gold’s output, achieving a record 198,142 ounces of gold production last year.

The current underground operations at the Otjikoto mine are expected to continue until 2027.

Despite the expected end of open-pit mining in 2025, B2Gold will continue processing stockpiles at Otjikoto until at least 2032. Underground operations are set to continue until 2027, with the possibility of extension if ongoing exploration identifies additional viable deposits. The mine reported record profits last year, driven by favorable gold prices.

The downscaling process began in the first quarter of 2024, with 130 employees already laid off. B2Gold Namibia country manager John Roos stated: “For 2025 we will go down from a permanent head count of 700 to 400 employees. That means 300 employees will be impacted during 2025.” The company projects gold production at Otjikoto for 2025 to range between 165,000 and 185,000 ounces.

Beyond Namibia, B2Gold operates gold mines in Mali and the Philippines and is advancing the Goose project in northern Canada. The company is also engaged in exploration and development projects in Mali, Colombia, and Finland. In January 2025, B2Gold committed $10 million to exploration at the Fekola gold complex in Mali following a resolution with the Malian government on its 2023 mining code, reducing operational uncertainties.

The phased reduction at Otjikoto reflects B2Gold’s response to the mine’s changing resource profile while maintaining long-term processing operations. The company’s broader portfolio and exploration efforts demonstrate its commitment to sustaining production and growth across its global operations. In Namibia, the focus remains on optimizing existing resources and exploring potential extensions to underground mining to support economic contributions to the region.

The Otjikoto mine’s transition underscores the challenges of managing finite mineral resources while balancing operational efficiency and community impact. B2Gold’s ongoing exploration and diversified operations position it to continue delivering value in the global gold mining sector, with a focus on sustainable practices and economic benefits for the regions in which it operates.