• B2Gold raises 2025 output forecast for Otjikoto mine to 205,000 oz

• Revision follows stronger-than-expected ore grades, open-pit results

• Otjikoto produced 104,241 oz in H1; gold prices hit $3,600/oz
  

Canadian mining company B2Gold is now forecasting a 2025 gold production of up to 205,000 ounces at its Otjikoto mine in Namibia. The revised target, announced in a statement on Monday, September 15, represents a projected 3% increase over the 198,142 ounces produced at the site in 2024.

This updated outlook contrasts sharply with the company's initial guidance, which had anticipated a production decline this year to a range of 165,000 to 185,000 ounces. The revision was driven by better-than-expected operational results at the mine, particularly from its open-pit operation, which is nearing the end of its life. B2Gold said it has recovered higher-grade ore than originally anticipated.

"The Otjikoto Mine has continued to outperform expectations into the third quarter of 2025," the company's statement read. "As previously disclosed, open pit mining activities at Otjikoto are scheduled to conclude in the near-term. During mining of the final phases of the Otjikoto pit, ore tonnes and average gold grade mined have exceeded expectations providing more robust ore stockpiles than previously anticipated. Due to the positive ore tonne and grade reconciliations described above, the Company is increasing its 2025 gold production guidance for the Otjikoto Mine to 185,000 to 205,000 ounces."

Otjikoto had already produced 104,241 ounces of gold in the first half of 2025. The company's next operational updates will be key to assessing the mine's production trajectory for the rest of the year. The new forecast comes as the price of gold continues to rise, with an ounce hitting a new record of over $3,600 last week.

Aurel Sèdjro Houenou