Commodities Buzz: B2Gold opens major new solar farm at its Namibia mine

Canadian miner B2Gold has officially commissioned a solar farm at its Otjikoto mine in Namibia, which the countrys Ministry of Mines and Energy, Tom Alweendo, said it was a n++significant contributionn++ for the nations attempts to find sustainable energy solutions. The opening follows the Vancouver-based miners breaking ground on the construction of the $ 8.5 million, 7megawatt (MW) photovoltaic (PV) solar power plant last year at the mine.The facility is also expected to improve B2Golds economic returns, reduce impacts on the environment and become a potential funding source for community development.

The company, which will reduce energy cost by 14% this year thanks to the solar plant, said it could use it as an income-generating asset after the mine runs out of ore. Funds generated by this asset could be used to support ongoing corporate social responsibility activities in the region long after the mines shut down. B2Gold gained access to the Otjikoto mine in Namibia, through its acquisition of Auryx Gold in 2011. It current owns other four producing gold mines and has two projects in its pipeline: Kiaka in Burkina Faso, and Gramalote, a joint venture with AngloGold Ashanti in Colombia.