Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
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Banro’s Twangiza gold mine (IM, February 2008, pp8-26) is on schedule to pour gold in Q4 2011 and ramp up to full production of around 10,000 oz/month early in 2012. Simon Village, CEO said in August: “We are fast approaching a significant milestone for both Banro and South Kivu province in the DRC. Since Banro’s Board made the decision to proceed with development and construction of the Twangiza Mine in the summer of 2009, we have worked diligently to a fast schedule which has allowed our company to pour its first gold in two years, and with weeks to go, we remain on schedule. It will be the first new commercial gold mine in the DRC for over half a century.” (more…)
