Banro Pours First Gold at Twangiza
Twangiza is Banro's first gold mine along the 210-km Twangiza-Namoya gold belt, where the company has delineated five projects within 13 licensed mining concessions. Gold recovery at the Twangiza plant is expected to total more than 1 million oz of over a seven-year period, providing a platform to finance planned growth in gold oxide production through similar projects along the belt.
To this end, construction preparation is already under way at Namoya, Banro's second gold project, which is scheduled for production in the first quarter of 2013. Two other projects, Lugushwa and Kamituga, are also envisaged to contribute to the company's planned growth of gold oxide production along the Twangiza-Namoya belt.