Business Chief USA February 2019
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BANRO CORPORATION<br />
Brett Richards, Chairman<br />
and CEO of Banro Corporation,<br />
talks through the challenge<br />
of re-establishing the<br />
company as a leader following<br />
bankruptcy and distress<br />
260<br />
F<br />
or more than 20 years, Banro Corporation<br />
Limited had established a firm foothold<br />
as one of Africa’s premier gold mining<br />
companies. Situated in the Democratic Republic of<br />
the Congo (DRC), Banro has the largest African land<br />
package for an operating gold mining company<br />
and has the only large-scale industrialised mining<br />
operation in South Kivu and Maniema. With more<br />
than 8Moz of Global Resources in the DRC it was<br />
once the largest gold mining company in the<br />
country from 2006 to 2014. Alongside<br />
its two operating mines and a number<br />
of mining licences, Banro also has 17<br />
additional exploration licences and<br />
a number of early stage exploration<br />
projects. Banro’s story seemed to<br />
go from success to success, but in<br />
2017 the company suffered from<br />
a combination of security<br />
and community issues<br />
and went into financial<br />
distress. By November<br />
FEBRUARY <strong>2019</strong>
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