CHAMWE KAIRA
B2Gold Corporation’s Otjikoto mine near Otavi, in which the company holds a 90% interest, produced 23 438 ounces of gold in the second quarter.
The company said higher than anticipated production in the second quarter was primarily due to higher-than-expected average mill feed grade as a result of greater ore volumes than expected from higher grade underground sources.
Otjikoto is now expected to produce between 80 000 and 100 000 ounces of gold in 2026 (previously between 70 000 and 90 000 ounces).
The increase in gold production guidance for Otjikoto reflects better than anticipated gold production in the first half of 2026, with strong operating results expected to continue through year-end.
Otjikoto’s strong gold production results from the first half of 2026 are expected to continue throughout the remainder of the year. As a result, the company is increasing the Otjikoto gold production guidance for 2026 and anticipates that all-in sustaining costs will be at or below the low-end of guidance.
Cash operating costs for the second quarter were US$1190 per gold ounce produced (US$1 080 per ounce gold sold).
“Cash operating costs per ounce produced for the second quarter of 2026 were lower than anticipated as a result of higher-than-expected gold production partially offset by higher-than-expected underground mining costs,” the company said.
All-in sustaining costs for the second quarter were US$1 480 per gold ounce sold. All-in sustaining costs per ounce sold for the second quarter were lower than anticipated as a result of lower-than-expected cash operating costs per ounce sold and lower than expected sustaining capital expenditures.
Capital expenditures for the second quarter totalled US$8 million, primarily consisting of US$5 million for Antelope development and US$2 million for Wolfshag underground development.
Cash operating costs guidance of between US$1 200 and US$1 300 per ounce produced and all-in sustaining costs guidance of between US$1 830 and US$1980 per ounce sold remain unchanged for 2026.
The company expects to be at or below the low end of the all-in sustaining cost guidance range for Otjikoto.
Overall, B2Gold said gold production for the second quarter was 203 648 ounces. Gold production at Fekola, Masbate and Otjikoto was higher than anticipated, offset by lower than anticipated gold production at Goose as a result of a previously reported fire in certain areas of the crushing circuit in April.
