Osino this week released its third annual sustainability report. The report summarises the company’s social, environmental and economic performance for the year 2023, and outlines plans for the ongoing integration of sustainability into the design of the Twin Hills Gold project.
The Twin Hills Gold project, located near Karibib in Namibia, is on track to create approximately
1 000 new jobs in the region.
“Osino has, from its inception and up to the end of 2023, attracted approximately N$982 million in foreign direct investment for the Namibian economy. The pending acquisition by Yintai Gold Co, Ltd, announced in prior press releases, is likely to be finalised in the next few months,” reads the release.
Osino is a Canadian gold exploration and development company focused on the fast-tracked development of its wholly-owned Twin Hills Gold Project in central Namibia. Since its grassroots’ discovery in August 2019, Osino has completed more than 250 000m2 of drilling and has completed a suite of specialist technical studies, which describe a technically-simple and economically-robust open-pit gold operation with a 13-year mine life and average annual gold production of over
162 000oz per annum.
During 2023, the company reported that its Namibian procurement spend was N$123 million, and additionally, Osino paid N$31.4 million in wages and N$7 million to the Namibian government as social security cover, PAYE, workman’s compensation and training levy.
Since 2017, Osino has invested N$982 million in Namibia.
Heye Daun, Osino’s CEO, commented: “With the pending acquisition of Twin Hills by Yintai and Yintai’s commitment to finance the development of the Twin Hills Gold Project, site construction is about to commence. This progress could not have happened without the collective dedication of our skilled, motivated and hard-working team, which embodies the company’s core values and purpose, and has laid a solid foundation for transitioning from exploration and development studies to real mine construction and operations, with a focus on setting the project up for a responsible mining approach.”