African focused Canadian gold miner Banro is no longer a single mine operator. Having produced its first gold late last year from the Democratic Republic of Congo’s (DRC) new Greenfields project Namoya, the company is on track to elevate its status from junior to midtier miner writes Laura Cornish.
It has been a little more than two years since Banro’s first mine, Twangiza, moved into production. And while there have been a few technical hiccups, the mine will undoubtedly deliver on its promise to increase its production rate to 1.7 Mtpa (ROM) and its recoveries (to 90%) following an expansion currently underway.
The introduction of Namoya is a massive step forward for Banro. Now operational (first gold pour was achieved on 30 December 2013), it will more than double Banro’s total gold production output, making it significant. It is designed to move another 2 Mtpa (ROM) at commercial steady-state production from the second quarter of 2014, equating to about 10 000 ozpm or 120 000 ozpa of gold, initially at high grades of between 2.7 and 2.9 g/t.