From Yahoo Finance: 2025-04-16 10:20:00

Canadian gold mining company B2Gold to cut 300 jobs in Namibia’s Otjikoto mine due to open pit reserves depletion. The mine produced a record 198,142oz of gold last year. Profit was boosted by high gold prices, with processing of stockpiles to continue until 2032. Underground operations set until 2027, with potential for extension.

Reduction of operations in Namibia started in Q1 2024, with 130 employees laid off. B2Gold plans to decrease permanent headcount from 700 to 400 in 2025. Otjikoto mine’s 2025 gold production forecast between 165,000oz and 185,000oz. B2Gold operates in Mali, the Philippines, and is developing projects in Canada, Colombia, Finland.

B2Gold invested $10m in exploration at Mali’s Fekola gold complex following a settlement with the Malian Government on the 2023 mining code. This move mitigates the risk of disruption. The company remains committed to its global exploration and development projects amidst challenges in Namibia.



Read more at Yahoo Finance: B2Gold plans to cut 300 jobs at Otjikoto mine in Namibia