Banro sets new production records at DRC gold mines
TORONTO (miningweekly.com) – Canadian gold producer Banro has achieved new production records at both its operating assets in the Democratic Republic of Congo (DRC), producing a combined 49 673 oz of gold during the second quarter ended June 30.
So far this year, total production stood at 93 865 oz of gold, which was in line with the 2016 production guidance, the company advised, with the second half expected to deliver the bulk of production.
Twangiza, the company’s first mine in the DRC's South Kivu province, produced 26 218 oz of gold, also in line with guidance, with the mine plan requiring mining lower-grade ore during the first half of the year, at lower recoveries compared with recent quarters.
The second mine, Namoya, produced 23 455 oz of gold in the period, with a record 9 201 oz produced in June.
"We are very pleased with the continued ramp-up at Namoya during the second quarter, culminating in over 9 000 oz of gold being poured in June. This positions the Namoya operation for steady-state production during the second half of the year," stated Banro president and CEO John Clarke.
He noted that management was focused on replacing the senior secured notes maturing in March 2017 with a longer-term instrument. “Resolving the impact of the senior secured notes would provide the company with long-term opportunities and benefits,” he advised.
Spread over its two low-cost openpit mines and four projects on the Twangiza-Namoya gold belt, Banro held 2.9-million ounces of gold in reserves, with 7.73-million ounces in the measured and indicated categories, and 5.27-million ounces inferred.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation