Banro’s Namoya mine in the Democratic Republic of the Congo successfully began gold production with the pouring of the first 320 ounces on 30 December 2013.
The completion of the building of the Namoya plant will continue in step with commissioning operations into the first quarter of 2014. Commercial production is expected to be achieved before the end of the second quarter of 2014. Namoya is Banro’s second gold mine to come into production in just over two years.
Production at Namoya is scheduled to transform Banro from a one-mine company with less than 100,000 ounces of annual gold production to a two-mine company targeting more than 225,000 ounces of annual gold production. The start of production at Namoya is also a tremendous achievement for the DRC, clearly signifying that the DRC is a place to find, finance and successfully build new gold mines.
“We would like to thank our professional operations teams, business partners, consultants, regional governments and the local communities for assisting us in this significant achievement. We look forward to continued growth, new business opportunities and a long association with the DRC,” commented Dr. John Clarke, President and CEO.
The Namoya mine is Banro’s second gold mine on the Twangiza-Namoya gold belt, located approximately 210km southwest of Banro’s Twangiza gold mine which began production in October 2011. Namoya is an open pit mining operation with a hybrid gravity/Carbon in Leach (CIL) and heap leach extraction process.