Mining Magazine February 2019 | Page 14

BANRO CORPORATION

Brett Richards , Chairman and CEO of Banro Corporation , talks through the challenge of re-establishing the company as a leader following bankruptcy and distress

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F or more than 20 years , Banro Corporation Limited had established a firm foothold as one of Africa ’ s premier gold mining companies . Situated in the Democratic Republic of the Congo ( DRC ), Banro has the largest African land package for an operating gold mining company and has the only large-scale industrialised mining operation in South Kivu and Maniema . With more than 8Moz of Global Resources in the DRC it was once the largest gold mining company in the country from 2006 to 2014 . Alongside its two operating mines and a number of mining licences , Banro also has 17 additional exploration licences and a number of early stage exploration projects . Banro ’ s story seemed to go from success to success , but in

2017 the company suffered from a combination of security and community issues and went into financial distress . By November
FEBRUARY 2019