In the media

Banro revises Namoya plan

27 January 2012

Source: Mining Journal

By: Mining Journal

BANRO Corp has readdressed its plans for the Namoya gold project in the Democratic Republic of the Congo, focusing on the first phase of development, exploiting oxide and transitional mineralisation. The company's previous (2011) revisIon of the economic assessment for Namoya considered gold recovery from oxide and transitional material through heap-leaching, compared with the combined carbon-in-Ieach-gravity treatment of all mineralisation in a 2007 study.

The latest assessment, completed by consultant MDM Engineering, focused on an initial phase of operations at Namoya that used a combined CIL -gravity and heap-leaching processing route of oxide and transitional material, with a second phase, yet to be assessed, using milling carbon-in-leach treatment The latest study was based on an in-house resource update completed late last year that was reviewed by consultant Venmyn Rand, defining about 1.6Moz of gold within measured and indicated categories (see table).

Of the total, about 0.9Moz was within oxide and transitional mineralisation. Open-pit mining of the four main deposits at Namoya would deliver 2Mt/y of material to the gravity heap-leaching facility. A three-stage crushing facility would yield -10mm material, with fines treated with carbon-in-leach and gravity processing, and the remaining coarse fraction stacked on heap-leaching pads. Average annual gold production (with forecast gold recoveries of 88% (or oxide and 84% for transitional mineralisation) was forecast at 139,000oz/y during the first three years of operation, and 122,000oz/y for the first five years. Overall production was estimated at about 770,000oz. Initial capital costs were estimated at US$I48 million, with a further US$5.4 million in ongoing capital. Cash operating costs were estimated at US$487/0z.

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