Chamwe Kaira
Namibia is poised to experience a surge in gold production, driven by the recent revelation from Osino Resources, a Canadian company engaged in gold exploration and development. The company is actively advancing the Twin Hills Gold Project situated in central Namibia. Osino Resources has made a significant discovery of gold mineralization at the Eureka greenfields exploration project, suggesting a promising future for gold extraction in the region.
Dave Underwood, Osino’s Vice President for Exploration, remarked, “The Eureka license was initially identified in 2019, and there remain multiple additional targets awaiting exploration. Our outlook for Eureka is highly optimistic, given its potential to establish a new gold district.”
Osino is in the process of planning a financially robust open-pit gold operation, projecting a mine life of 13 years. The expected average annual gold production is over 169,000 ounces (4791 kgs).
In contrast to Osino’s projected production figures, the Otjikoto Mine yielded 4,581 kgs of gold in 2022, slightly below the revised guidance range of 4,677 kgs to 4,916 kgs. This was mainly attributed to delays in commencing operations at the Wolfshag underground mine, as reported by the Chamber of Mines of Namibia. B2Gold Namibia (Pty) Ltd, a Canadian firm, holds a 90% stake in the mine, while EVI Mining Company Ltd owns the remaining 10%.
Gold production from the Navachab mine witnessed a remarkable 61% increase, rising from 1,491 kg in 2021 to 2,411 kg in 2022. The 2022 Annual Report from the Chamber of Mines of Namibia indicated that this production volume ranks as the second-highest achievement in the mine’s history. This upsurge in gold output was a direct outcome of amplified mining volumes and the successful implementation of leach expansion techniques, enhancing gold recovery.
Navachab is primarily owned by QKR Namibia Mineral Holdings (Pty) Ltd and JG Investment Investments (Pty) Ltd, with a 92.5% stake, while EpangeloGold possesses the remaining 7.5%.
Osino’s positive outlook is grounded in its expansive land position, covering approximately 8,000 km2 within Namibia’s promising Damara sedimentary mineral belt. This position is strategically situated near the operational Navachab and Otjikoto Gold Mines, providing substantial potential for success. Osino is actively exploring various gold prospects and targets along this mineral belt, employing a portfolio-based strategy to foster discovery. Their focus is on identifying gold mineralization that aligns with the broader orogenic gold model.
