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Banro restarts Twangiza gold ball mill

According to the gold miner, the ball mill at the DRC mine has been restarted after a delay of almost a month.

Posted: Monday , 30 Jul 2012

(Reuters) - 

Banro Corp said it restarted the ball mill at its Twangiza gold mine in the Democratic Republic of the Congo on July 19 after nearly a month.

Commercial production at Twangiza would be delayed due to problems with the mill motor at the site, the company had said last month.

Banro, one of several junior miners rushing to boost production in resource-rich Africa, expects commercial production in the third quarter, Chief Executive Simon Village said in a statement.

The Twangiza plant operated at 60 percent capacity during the repair, the company said.

Twangiza, with an expected mine life of seven to eight years, is projected to produce about 120,000 ounces of gold per year, according to the company's website.

Banro shares closed at C$4.09 on Friday on the Toronto Stock Exchange.

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