THE Otjikoto Gold Mine, located just south of Otavi town in the Otjozondjupa Region, is expected to produce and deliver its first gold by the end of this year.

Leake Hangala of the Hangala Group, a shareholder in the country’s second gold mine, confirmed this projected production date shortly after he introduced visiting executives of Canadian Gold mining giant B2Gold to President Hifikepunye Pohamba at State House on Tuesday.

B2Gold is the main shareholder in the new mining venture.

Hangala said the new mine will employ around 800 people during the construction phase, which started at the beginning of this month.

About 550 direct employment opportunities will be created once the mine is in full production by 2015.

He added that most employees will be recruited from the nearby towns of Otavi and Otjiwarongo, while B2Gold will strive to fill specialised positions like mining engineers from within the country too.

B2Gold’s president and chief executive officer (CEO), Clive Johnson said his company is already busy with additional exploration in the Otjozondjupa Region, especially in the area where the gold was found.He added that the prospects look good to expand the mine in the near future.

Johnson said B2Gold has a presence around the world, having already built successful mines in Russia, Chile, South Africa, Nicaragua and the Philippines.

Otjikoto Gold Mine is expected to produce more gold than the Navachab Gold mine outside Karibib in the Erongo Region.

B2Gold will hold 92 percent shares in the company, while the remaining eight percent will be held by EVI Gold, a Namibian empowerment group.

A ground-breaking ceremony for the mine, which is to be constructed at a cost of N$2.2 billion, is scheduled to take place tomorrow at the site, some 70 kilometres north of Otjiwarongo on the main road to Otavi.

Source : abdas.org

Posted on : 30 Nov,-0001