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Looking for a new frontier in gold mining? Namibia is waiting for you

Market News, Mining
TSX:BTO
20 March 2023 09:00 (EDT)

Source: Namibia Critical Metals Inc.

Banks are struggling and investors are looking to gold as a haven for their money, this isn’t new, but one emerging jurisdiction for mining is catching attention and should be on your radar.

In the Republic of Namibia in Southern Africa, mining is a top economic contributor. It accounts for 10 percent of its annual GDP and is the biggest contributor to its economy in terms of revenue. Making up roughly a quarter of the country’s income, extensive exploration in Namibia for metals such as gold has been attributed, in part, to the rise in world commodity prices, according to a U.S. Geological Survey report.

What makes it so appealing and why have you probably not heard of it? Both of those questions answer themselves. With a population of only around 2 million people (roughly a third of Toronto), Namibia has kept out of news headlines compared to other African countries like the Democratic Republic of Congo. Doing gold mining business in the DRC is a story unto itself, but as for Namibia, its relative obscurity has meant the country has become hyper aware of gold mining and in turn, is becoming a hub of activity for a few select players.

Source: B2Gold Corp.

Canadian gold producer B2Gold Corp. (TSX:BTO) has operating gold mines in Namibia, as well as other countries and numerous exploration and development projects including Mali, Colombia, Finland and Uzbekistan.

The Otjikoto Mine is the largest gold producer in the country and is located in the north-central part of the country 300 km north of the capital, Windhoek.

B2Gold forecasts the Otjikoto Mine to produce between 190,000 and 210,000 ounces of gold in 2023.

Namibia Critical Metals Inc. (TSXV:NMI) holds a diversified portfolio of exploration and advanced stage projects focused on the development of sustainable and ethical sources of metals for the battery, electric vehicle, and associated industries. The two advanced-stage projects in the portfolio are Lofdal and Epembe. The Halifax, Nova Scotia-based company, also holds significant land positions in areas favourable for gold mineralization.

Source: Namibia Critical Elements Inc.

Its Erongo gold project covers an area of over 600 km² within the Navachab-Ondundu gold trend. There are numerous mineral occurrences within the project area including at least two gold occurrences. The area has been prospected but not systematically explored.

Canadian gold exploration and development company, Osino Resources Corp. (TSXV:OSI) is focused on the exploration and development of gold projects in Namibia, specifically fast-tracking its flagship, Twin Hills Gold Project to development.

The Twin Hills Gold Project is located within the Damara sedimentary mineral belt and along strike of the producing, open-pit Navachab and Otjikoto gold mines.

Source: Osino Resources Corp.

The project’s orebody will be mined as a conventional shovel and truck operation, with bulk mining augmented by more selective mining in areas with narrow ore zones. The mining operation, except for the mine technical services function, will be outsourced to mining contractors.

The project is planned as a multi-pit mining operation with seven pushbacks in the Central Twin Hills and Bulge pits and the three separate satellite pits called Clouds, Clouds West, and Twin Hills West. The pit will be mined to support grade maximization to the plant in the early years, while waste stripping is deferred into the future.

These are just a few examples of leading companies working in Namibia to help any investor get started on due diligence into this up-and-coming section of the gold mining industry.

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