MINING NEWS
Banro sets new production records at DRC gold mines
Canadian gold producer Banro has achieved new production records at both its operating assets in the Democratic Republic of Congo ( DRC ), producing a combined 49 673 oz of gold during the second quarter ended June 30 . So far this year , total production stood at 93 865 oz of gold , which was in line with the 2016 production guidance , the company advised , with the second half expected to deliver the bulk of production . Twangiza , the company ' s rst mine in the DRCs South Kivu province , produced 26 218 oz of gold , also in line with guidance , with the mine plan requiring mining lower-grade ore during the rst half of the year , at lower recoveries compared with recent quarters . �e second mine , Namoya , produced 23 455 oz of gold in the period , with a record 9 201 oz produced in June . " We are very pleased with the continued ramp-up at Namoya during the second quarter , culminating in over 9 000 oz of gold being poured in June . �is positions the Namoya operation for steady-state production during the second half of the year ," stated Banro president and CEO John Clarke . He noted that management was focused on replacing the senior secured notes maturing in March 2017 with a longer-term instrument . “ Resolving the impact of the senior secured notes would provide the company with long-term opportunities and bene ts ,” he advised . Spread over its two low-cost openpit mines and four projects on the Twangiza-Namoya gold belt , Banro held 2.9-million ounces of gold in reserves , with 7.73-million ounces in the measured and indicated categories , and 5.27-million ounces inferred .
Global mining equipment market to reach $ 156 billion by 2020
According to the study , titled “ World Mining Equipment Market – Opportunities and Forecasts , 2015 – 2022 ”, the Asia – Paci c region accounted for the highest revenue of over $ 50 billion in 2015 , followed by Latin America , the Middle East and Africa ( LAMEA ). According to the analysts , the market growth is likely to be driven by increasing demand for coal in electricity generating applications , growing demand for technologically advanced mining equipment , and rising construction of roads and railways through hilly areas . �e metal mining segment occupied a major share of around 39 %, followed by mineral mining in 2015 . �e metal mining segment is anticipated to witness the fastest CAGR of 10.3 % during the forecast period , owing to increasing demand of base metals such as copper , nickel , lead , zinc and others . Moreover , coal mining is anticipated to witness impressive growth in developing economies such as China and India in the coming years . �e segmentations by type include mineral processing equipment , surface mining equipment , underground mining equipment , mining drills & breakers , crushing , pulverizing & screening equipment , and other mining equipment . Surface mining equipment accounted for the maximum market share of around 31 % in 2015 , as they are extensively being used in application areas such as coal mining . From a growth perspective , mining drills and breakers is projected to be the fastest growing segment due to increasing application in metal mining . In 2015 , LAMEA was the second largest market followed by North America . Asia-Paci c would continue to dominate the overall market throughout the forecast period owing to increasing demand of mining equipment from countries such as China , India Indonesia and others . Key ndings :
· Asia-Paci c would continue to be the dominant market for mining equipment throughout the forecast period .
· Metal mining application segment is forecast to witness fastest CAGR during 2016-2020 .
· Surface mining equipment accounted for the largest share of the overall market in 2015 .
· Mining drills and breakers segment is expected to exhibit fastest growth during the forecast period . Product launch and acquisition are the key growth strategies adopted by the leading market players to strengthen their foothold in the market . Key companies pro led include Caterpillar Inc ., Komatsu Ltd ., Sandvik , Joy Global Inc ., Hitachi Construction Machinery Co . Ltd ., Atlas Copco , AB Volvo , Doosan Heavy Industries & Construction , Metso , and Liebherr Group .
�e global mining equipment market is expected to garner $ 156 billion by 2022 , increasing at a compound annual growth rate ( CAGR ) of 7.9 % during 2016 – 2022 , a new report published by Allied Market Research shows .
FMDZ | May - June 2016 | Page05