Windhoek: The Twin Hills gold project near Karibib is on track to move from discovery to production in nine years, against an industry norm of 15 years, Osino Resources country director Werner Schuckmann said in an interview here on Monday. Osino discovered the deposit in 2018 and expects the mine to be operational by the middle of 2027, with construction currently 60% complete.

According to Namibia Press Agency, Osino initiated construction in June last year, adhering to a typical timeline of 24 to 27 months for completion, keeping the project on schedule for its mid-2027 target. The capital expenditure for the project has escalated to approximately US$ 500 million from an initial standalone estimate of US$ 380 million, a discrepancy Schuckmann attributes directly to the extensive financial requirements of the project.

Osino's acquisition by China's Shanjin International Gold has been pivotal in maintaining the project's momentum. Schuckmann credited the acquisition, stating, "We are very glad to have Shanjin as our parent company now. They operate a number of gold mines in China as well. They've got the financial muscle." He further mentioned that while a small number of Shanjin employees have integrated into the project's management, the operation would continue to be predominantly staffed by Namibians, maintaining a 96 to 97% local workforce once the mine is operational.

Currently, the construction phase employs nearly 1,500 people, exceeding the initial estimate of 1,000, with a substantial 96 to 98% of these workers being Namibian. Most workers hail from the nearby communities of Karibib, Usakos, and Omaruru, although Schuckmann noted that an exact breakdown is challenging to ascertain. He estimated that "60 to 70% from the local communities and the rest from the rest of Namibia."

Upon completion of construction, direct employment is expected to decrease to around 800 as mining operations commence, with Osino's contract miner making up the majority of this figure. Schuckmann highlighted the Chamber of Mines' employment multiplier, which estimates the broader economic impact could be eight to nine times the number of direct jobs created.

Twin Hills is projected to become one of Namibia's top three taxpayers within two to four years of initial investment repayment, with more than 50% of gold mine profits typically benefiting the state through royalties and taxes. While the project has faced construction setbacks, including weather delays and a shortage of skilled welders, as well as prolonged work permit processing times, these challenges have not jeopardized the overall timeline. Once operational, Twin Hills will join Navachab and Otjikoto as Namibia's third commercial gold mine.