Banro Moves to Owner-Operator Mining at Twangiza
Banlaw Afrique DRC provided earth-works and mining services at Twangiza beginning in January 2010. The Banlaw team will remain in their current roles at Twangiza and become Banro employees, eliminating the need for Banro to recruit and/or train for these positions.
“The decision to utilize a contractor to undertake the earthworks and mining at Twangiza during the initial start-up phase was driven primarily by the fast-tracking of the Twangiza project and the need to gear up quickly,” Simon Village, president and CEO of Banro, said. “However, with Banro looking to roll out a number of gold projects in succession, it now makes good business sense to bring these functions in-house.”
Banro is developing three additional major, wholly-owned gold projects, each with mining licenses, along the 210-km-long Twangiza-Namoya gold belt in South Kivu and Maniema provinces of the DRC. A sec-ond mine is planned at Namoya at the south end of the gold belt, and two other projects, Lugushwa and Kamituga, are being ad-vanced in the central portion of the belt.