HomeCentral AfricaBanro given the green light in the DRC

Banro given the green light in the DRC

Geologists inspect
an adit on Banro’s
Namoya property
in the DRC
Kinshasa, DRC — MININGREVIEW.COM — 26 February 2009 – Banro Corporation – the Canadian-based gold exploration company operating in the Democratic Republic of Congo (DRC) – has been given the all clear by the DRC authorities to move ahead with its operations.

A news release issue here and in Toronto confirmed that Banro had received official confirmation from DRC Minister of Mines Martin Kabwelulu that all aspects of the company’s mining convention and its mining licenses in the country were in accordance with Congolese law.

The company had determined that it was necessary to receive this confirmation in the light of international investor concern regarding its rights in the DRC.

Minister Kabwelulu said: “Banro will get our full support and assistance from the central and regional governments of the DRC to ensure that we together achieve Banro’s objectives, as they move forward to build their projects.”

Company president and CEO Mike Prinsloo commented: "The successful conclusion of this process demonstrates our combined commitment to the peaceful social and economic development of the DRC, and more specifically to the communities of South Kivu and Maniema provinces where we operate. It is also in support of Banro’s vision to ensure we develop these projects, which in turn will lead to enhanced opportunities and quality of life for the communities in the long term.”

Banro is focused on the development of four major, wholly-owned gold projects – each with mining licenses – along the 210 km-long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the DRC.