B2Gold Corp. Celebrates the Opening of the Solar Power Plant at its Otjikoto Mine in Namibia
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News Release
B2Gold Corp. Celebrates the Opening of the Solar Power Plant at its Otjikoto Mine in Namibia
Vancouver, June 5, 2018 – B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G)
("B2Gold" or the "Company") is pleased to announce that on May 29, 2018, the Company celebrated the
official opening of the B2Gold Solar Plant at its Otjikoto Mine in Namibia.
The opening of the new solar plant is in-keeping with B2Gold's ongoing commitment to responsible
mining and promoting green energy solutions at its five operating gold mines worldwide. The Otjikoto
Solar Plant is one of the first fully-autonomous hybrid plants in the world and will allow the Company to
significantly reduce fuel consumption and greenhouse gas emissions from the site's current 24-megawatt
("MW") heavy fuel oil ("HFO") power plant. Changing the power plant to an HFO solar hybrid plant is
expected to reduce Otjikoto's HFO consumption by approximately 2.3 million litres and reduce associated
power generation fuel costs by approximately 10% in 2018.
In remarks at the official opening of the solar plant, Namibia's Minister of Mines and Energy, the
Honourable Tom Alweendo, said that the plant "will deliver positive economic, environmental and social
impacts that are likely to outlive the life of mine. I am also informed that this solar plant will be one of the
largest installations of its kind in Namibia. It will serve as a sustainable power solution as B2Gold works
to improve economic returns, reduce impacts on the environment and could potentially be a funding
source for community development."
The development of the Otjikoto solar facility reflects B2Gold's commitment to environmental
stewardship and the Company's ongoing goal of reducing its dependence on fossil fuels in favour of
cleaner, less expensive power sources.
Driven by this goal, B2Gold embarked upon a detailed financial feasibility study early in 2016 to
determine the financial viability of adding a 7 MW solar plant to Otjikoto's energy portfolio. Based on the
results of this study, the project was approved in October 2016 with an estimated project cost of $8.5
million. Otjikoto's solar plant commenced full commissioning in early April 2018, on schedule and on
budget.
Bill Lytle, Senior Vice President, Operations, said that a key mandate for B2Gold is to always leave the
region and communities where B2Gold operates better off as a result of B2Gold's investment. "B2Gold
firmly believes that a successfully-run, responsible mining company can truly add value and leave a
positive legacy to the local communities and environment by generating sustainable socio-economic and
environmental benefits."
B2Gold is considering whether a further innovative use of the solar plant could be as an income-
generating asset after the mine closes. Funds generated by this asset could be used to support ongoing
Corporate Social Responsibility activities in the region long after the mine has shut down.
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The Otjikoto Solar Plant project was championed by Mark Dawe, B2Gold's Namibia Country Manager,
and his management team.
About B2Gold Corp.
Headquartered in Vancouver, Canada, B2Gold Corp. is the world's new senior gold producer. Founded in
2007, today, B2Gold has five operating gold mines, and numerous exploration and development projects
in various countries including Nicaragua, the Philippines, Namibia, Mali, Burkina Faso, Colombia and
Finland.
With the large, low-cost Fekola Mine now in production, B2Gold is well positioned in achieving
transformational growth. In 2018, with the planned first full year of production from the Fekola Mine,
consolidated gold production is forecast to be between 910,000 and 950,000 ounces. This represents an
increase in annual consolidated gold production of approximately 300,000 ounces for the Company in
2018 versus 2017.
ON BEHALF OF B2GOLD CORP.
“Bill Lytle” “Mark Dawe”
Senior Vice President, Operations Country Manager, Namibia & Managing Director
For more information on B2Gold, please visit the Company website at www.b2gold.com or contact:
Ian MacLean Katie Bromley
Vice President, Investor Relations Manage r, Investor Relations & Public Relations
604-681-8371 604-681-8371
[email protected] [email protected]
The Toronto Stock Exchange and the NYSE American LLC neither approve nor disapprove the information
contained in this news release.
Production forecasts presented in this news release reflect the total production at the mines the Company operates
on a 100% basis.
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively
“forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation,
including statements regarding anticipated explora tion, operations, production and other activities and
achievements of the Company, including but not limited to: the anticipated operational results of the solar plant,
including its ability to reduce fuel consumption and costs; the future use of the solar plant as an income generating
asset after the mine closes and the potential use of any such income; consolidated 2018 gold production forecast
being between 910,000 and 950,000 ounces of gold and such representing an increase in annual consolidated gold
production of approximately 300,000 ounces for the Company in 2018 versus 2017; and B2Gold being well
positioned in achieving transformational gr owth in 2018. All statemen ts in this news release that address events or
developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally, although not always, identified by words such as
“expect”, “plan”, “anticipate”, “project”, “target”, “potential”, “schedule”, “forecast”, “budget”, “estimate”,
“intend” or “believe” and similar expr essions or their negative connotations, or that e vents or conditions “will”,
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“would”, “may”, “could”, “should” or “might” occur. All such forward-looking statements are based on the
opinions and estimates of management as of the date such statements are made.
Forward-looking statements necessarily involve assumptio ns, risks and uncertainties, certain of which are beyond
B2Gold’s control, including risks associated with the volatility of metal prices and the Company’s common shares;
risks and dangers inherent in exploratio n, development and mining activities; uncertainty of reserve and resource
estimates; risk of not achieving production, cost or other estimates; risk that actual production, development plans
and costs differ materially from the estimates in the Company’s feasibility studies; the ability to obtain and maintain
any necessary permits, consents or authorizations require d for mining activities; uncertainty about the outcome of
negotiations with the Government of Mali; risks related to environmental regulations or hazards and compliance
with complex regulations associated with mining activities; the ability to replace mineral reserves and identify
acquisition opportunities; unknown liabiliti es of companies acquired by B2Go ld; ability to succe ssfully integrate
new acquisitions; fluctuations in exchange rates; availab ility of financing; risks rela ted to financing and debt,
including potential restrictions imposed on the Company’s operations as a result thereof and the ability to generate
sufficient cash flows; risks related to operations in foreign and developing countries and compli ance with foreign
laws, including those associated with operations Mali, Namibia, the Philippine, Nicaragua and Burkina Faso and
including risks related to changes in foreign laws and changing policies related to mining and local ownership
requirements; risks related to remote operations and the availability of adequate infrastructure, fluctuations in price
and availability of energy and other inputs necessary for mining opera tions; shortages or cost increases in
necessary equipment, supplies and labour; regulatory, pol itical and country risks including local instability or acts
of terrorism and the effects thereof; risks related to reliance upon contractors, third parties and joint venture
partners; risks related to lack of sole decision-making au thority related to Filminera Resources Corporation, which
owns the Masbate Project; challenges to title or surface rights; dependence on key personnel and ability to attract
and retain skilled personnel; the risk of an uninsurable or uninsured loss; adverse climate and weather conditions;
litigation risk; competition with other mining companies; changes in tax laws; community support for the
Company’s operations including risks related to strikes and the halting of such operations from time to time; risks
related to conflict with small scale miners; risks related to failures of information systems or information security
threats; the final outcome of the audit by the DENR in re lation to the Masbate Project; ability to maintain adequate
internal control over financial reporting as required by law, including Section 404 of the Sarbanes-Oxley Act; risks
related to compliance with anti-corruption laws; as well as other factors identified and as described in more detail
under the heading “Risk Factors” in B2Gold’s most recent Annual Information Form, the Company’s current Form
40-F Annual Report and B2Gold’s other filings with Canadian securities regulators and the U.S. Securities and
Exchange Commission (the “SEC”), which may be viewed at www.sedar.com and www.sec.gov, respectively (the
“Websites”). The list is not exhaustive of the factors th at may affect the Company’s forward-looking statements.
There can be no assurance that such statements will pro ve to be accurate, and actual results, performance or
achievements could differ materially from those expressed in, or implied by, these forward-looking statements.