Business Chief USA February 2019
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MINING<br />
265<br />
skills, whether it’s geopolitical or socioeconomic,<br />
to overcome the challenges<br />
that we are facing.”<br />
Banro’s transformation is one of two<br />
parts. First, Richards and the company<br />
will look to recapitalise the company over<br />
the next year in order to reposition the<br />
company to where its history and land<br />
package should place its cost structure<br />
and operating environment amongst its<br />
peers. This first phase of rehabilitation<br />
is one of trying to understand a number<br />
of legacy deficiencies in order to take<br />
the necessary steps in order to stabilise<br />
the business. When Richards entered<br />
the business, Banro was faced with<br />
fresh security challenges that he believes<br />
“paralysed” the business temporarily.<br />
Step one of the journey was to re-establish<br />
community relationships. “It’s our<br />
obligation as a company to provide a safe<br />
workplace for our people and a safe<br />
workplace for our whole community<br />
to live in,” he says. “That’s achieved<br />
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