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News Breaks | | | | January 14, 2013 | | 08:53 EDT |  | BAA | Banro Corporation provides Q4 production update for Tangiza Gold Mine
Banro Corporation provides a gold production update for its Twangiza Gold Mine in the Democratic Republic of the Congo. Twangiza produced 19,750 ounces of gold for Q4. This was Twangiza's best quarterly performance since start-up, which has enabled management to fully assess the expansion potential, and operational issues required to achieve higher levels of productivity. A comprehensive upgrade of the metallurgical plant is now underway which in brief includes the introduction of a larger front end crusher, as well as increasing the CIL tank volumes and doubling elution capability. The full expansion exercise is planned to be completed by the end of the Q3. This will increase throughputs to 1.7Mtpa, or 425,000t/quarter, which is approximately 68% higher than 4Q12 and, together with higher recoveries expected to be in the 90% range, unit costs will reduce further to $500-$600 per ounce. | |
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