14 September 2017

Namibia: B2gold Rakes in Record N$8,9b Revenue

B2GOLD realised record revenue of US$683,3 million for the year ended 31 December 2016, which translates to N$8, 91 billion at the current exchange rate on record sales of 548 281 ounces at an average price of US$1 246 per ounce.

This information is contained in B2Gold's Responsible Mining Report for 2016 that was released on Tuesday night.

The Otjikoto Mine, situated a few kilometres from Tsumeb, accounted for US$207,7 million, (N$2,71 billion) in revenue while the Masbate Mine accounted for US$255,6 million (N$3,3 billion) in revenue, the La Libertad Mine US$163,7 million (N$2,1 billion) and the El Limon mine contributed US$56,4 million (N$735,5 million).

Speaking at the launch, Steve Galloway, B2Gold's corporate social investment board member, said B2Gold has been the leader in reducing poverty and the education backlog, human-wildlife conflict and promoting conservation and improved land use, as well as combatting urban and rural environmental degeneration and creating better lives for all.

"You certainly set the standards in Namibia in leading initiatives that one might expect government to lead. Examples of this are your amazing education ventures, your support to land delivery and housing and your initiatives in provision of energy for the mine and for the nation," he said.

Gretha du Plessis, B2Gold's public relations manager in Africa explained that the group's commitment to social responsibility and environmental stewardship (combined with rapid growth) has made it crucial for the company to review its status as a responsible miner and to take a step back and examine its performance in this regard.

The company took on the challenge to produce its first Responsible Mining Report; a report based on internationally respected Global Reporting Initiative guidelines. The report is based on a structured analysis of responsible performance within a selected number of aspects and indicators from the economic, environmental, and social categories.

"Through the process of compiling and writing the report, we also came to the realisation that, year-on-year, it will allow us to raise the bar for ourselves and to track how we perform against these targets," Du Plessis said.

The company also signed an agreement with Total Namibia under which Total committed to donating two cents for every litre of heavy fuel oil sold to B2Gold Namibia, to the Namibian Chamber of Environment (NCE).

"We have decided to do so as we believe that the goals and objectives behind the formation of the NCE are critical if we are to protect our environment and promote sustainable growth" said Naftal Kakwambi, Total Namibia managing director.

Mark Dawe B2Gold Namibia, country manager and managing director announced that B2Gold and NCE are spearheading a public private partnership that will enable B2Gold to leave a lasting legacy long after they cease operations at the Otjikoto mine.

The initiative, called the "Re-Wilding the Future" was presented as a documentary film produced by B2Gold Namibia.

A smart PPP approach is being explored to develop such a model, involving B2Gold Namibia, the Ministry of Environment and Tourism, and the NCE.

The target is to link B2Gold land and the Waterberg Plateau Park into an integrated conservation and wildlife management landscape that optimises biodiversity protection as well as unleashing wildlife and landscape values through tourism, wildlife use and vertically integrated value chains.

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