Banro Corporation Ltd. is a growing Central African producer focused on its four wholly-owned gold in the South Kivu and Maniema provinces the Democratic Republic of the Congo. Banro have operating in the DRC since 2004, and is committed expanding its business, building value and creating a sustainable future for all stakeholders.
The Company’s first producing mine, Twangiza Mining SA gold mine, which in 2011 became the first commercial gold mine to be built in the DRC in over 50 years, is located 45 kilometres to the south-west of the city of Bukavu in the DRC. The Twangiza mine is an open pit oxide operation, designed to produce over 120,000 ounces of gold per year. Twangiza has a Proven & Probable Mineral Reserve of 1.80 M oz Au at 2.05 g/t.
Banro’s second producing gold mine, Namoya Mining SA, entered commercial production in 2016 and is an open oxide operation located at the southern end of the Twangiza-Namoya gold belt, in the province of Maniema. The Namoya mine was designed to produce in excess of 120,000 ounces of gold per year, and has a Proven & Probable Mineral Reserve of 1.17 M oz AU at 1.77 g/t.
Currently, Banro has a large mineral inventory on its Mineral Reserve and Resource Statement, with Proven and Probable Mineral Reserves of 3.18 million ounces; 7.04 million ounces of Measured and Indicated Resources, and an addition Inferred Resource of 5.08 million ounces.
Banro can clearly demonstrate a path to 15 million ounces, and to 20 million ounces with further drilling, as it has only explored 14% of the total land package it has under licence or permit.