05 Mar 2014 14:50pm
TORONTO, 05 MAR (NAMPA) The president and Chief Executive Officer (CEO) of Canada-based B2Gold company, Clive Johnson has described Namibia as a great and remarkable country for doing business.
Speaking at the official opening of the 15th Annual Africa Mining Conference and Expo, which is currently underway in the city of Toronto in Canada, Johnson said: I am enjoying doing business in Namibia.
The mining conference and expo is being attended by over 20 000 investors and businesspeople from all over the world. It started on Tuesday, and is expected to end this Thursday.
The B2Gold company is a 90 per cent shareholder in the Otjikoto gold-mining project, located north of the town of Otjiwarongo in the Otjozondjupa Region. The remaining 10 per cent of the shares are owned by Namibian company Evi Mining Company Ltd.
Johnson commended Namibia for having a stable government and a pleasant business environment. The taxation regime is also reasonable and favourable here, he added.
The mining corporate tax rate in the country currently stands at 37,5 per cent.
Namibia has reliable national infrastructure, such as the good roads network. Im really enjoying doing business in Namibia, and B2Gold Namibia is delivering on its promises.
The Otjikoto project has good water supply on site as well as self-generating power supply, and we have access to the deep harbour of Walvis Bay, which is favourable for our exports, he noted.
Johnson told Nampa that the construction of the mine is on schedule, and production is expected to commence before the end of this year.
The plant - and supporting infrastructure - is being built to provide for expansion from the initial design capacity of 2,5 million tonnes per annum to 3 million tonnes per annum at a cost of approximately US.dollars 15 million (about N.dollars 161 million), which will increase annual gold production to approximately 170 000 ounces in 2016.
Pre-production capital will cost the company US.dollars 244.2 million (about N.dollars 2.6 billion).