B2Gold retrenches 138 workers, more to follow

WINDHOEK, 15 APR (NAMPA) - The B2Gold Otjikoto Mine last year retrenched 138 workers, of which 95 undertook the voluntary retrenchment deal.
B2Gold Country Manager, John Roos, revealed this in an interview with Nampa on Monday on the sidelines of a media engagement on Monday.
Roos said by the end of 2025, only 400 out of 700 employees will be employed at the mine, located between Otjiwarongo and Otavi in the Otjozondjupa Region.
A memo issued by the company in 2023 stated that the Otjikoto Mine had been experiencing uncertainty about the future, saying a phased mine closure was imminent.
“Despite our best efforts, B2Gold Namibia must commence with a phased mine closure process which will affect the mine site and Windhoek office staff,” its management said at the time.
It also said processing and milling of low-grade stockpiles will, however, continue until 2031, on condition it is economically viable.
Roos said between April and December 2024, they retrenched around 138 employees and by the end of this year, they will be through with the retrenchment phase.
“So, by end of 2025, we will go down from a permanent headcount of around 700 employees to 400 employees, meaning 300 employees will be impacted during 2025,” he explained.
B2Gold Namibia also said in its 2023 memo that it remains committed to the Otjikoto Mine and continues to invest a considerable amount of money in exploration activities around the mine, with the hopes that the project’s life can be extended.
The workforce reduction plan, the company said, is based on a ramp-down schedule which was finalised in 2022.
Notwithstanding the retrenchments, the company on Monday announced that in 2024, the Otjikoto Mine produced 198 142 ounces of gold.
Otjikoto Mine General Manager Eric Barnard said, “The Otjikoto Mine is expected to produce between 165 000 and 185 000 ounces of gold in 2025 at cash operating costs of between US$695 (approximately N.dollars 13 149.43) and US$755 (approximately N.dollars 14 284.63) per ounce, and all-in sustaining costs of between US$980 (approximately N.dollars 18 541.64) and US$1 040 (approximately N.dollars 19 676.84) per ounce.
“Gold production at Otjikoto will be weighted towards the first half of 2025 due to the conclusion of open pit mining activities in the third quarter of 2025. For the full year 2025, Otjikoto is expected to process a total of 3.4 million tonnes of ore at an average grader of 1.63 g/t with a process gold recovery of 98.0 percent”.
(NAMPA)
EB/ND