Modern Mining

Banro Corporation reports that mining operations at its Namoya gold mine in the DRC have recommenced as a result of the reestablishment of the road access to the mine. The company says it intends to progressively ramp up production at Namoya during January.

As Banro reported in a September 25, 2017 press release, the suspension of mining operations at the Namoya mine was due to the activities of local groups, which took control over certain areas along the sole supply road to Namoya and shut down transit. The impact of those activities resulted in the depletion of essential operating stock and supplies, leading to the temporary suspension of mining operations at Namoya.

Banro is a Canadian gold mining company focused on production from the Twangiza and Namoya mines, which began commercial production in September 2012 and January 2016 respectively. The company’s longer-term objectives include the development of two additional major, wholly-owned gold projects, Lugushwa and Kamituga. The four projects, each of which has a mining licence, are located along the 210-km long Twangiza-Namoya gold belt in the DRC’s South Kivu and Maniema provinces.

In November 2017 Banro said in a statement that it continued to face “significant ongoing, operational and financial challenges including short and long term liquidity constraints” and that its ability to continue operations in the normal course of business was dependent on several factors, including securing funding for operations and to meet upcoming debt servicing and working capital requirements.

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Title: Editor
Name: Arthur Tassell
Email: mining@crown.co.za
Phone: +27 11 622-4770
Fax: +27 11 615-6108

Title: Advertising Manager
Name: Bennie Venter
Email: benniev@crown.co.za
Phone: +27 11 622-4770
Fax: +27 11 615-6108

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