TORONTO, ONTARIO--(Marketwired - Sept. 25, 2017) - Banro Corporation (the "Company" or "Banro") (NYSE MKT:BAA)(TSX:BAA) reports that as a result of the closure of road access to the Company's Namoya mine in Maniema Province of the Democratic Republic of the Congo ("DRC"), mining operations at the Namoya mine have been temporarily suspended. The road access closure is due to the activities of local groups against both the local populations and against the DRC national army, and has resulted in the depletion of essential operating stock at site. The Company has taken steps to ensure the safety of its personnel and the integrity of the Namoya mine.
The Company looks forward to a resolution of the situation, and will provide an update as additional information becomes available.
Operations at the Company's Twangiza mine in South Kivu Province of the DRC have not been impacted.
The Company also reports the resignation of Mr. Peter Cowley from the Banro board of directors. The board wishes Peter all the best in the future and thanks him for his contribution to Banro over many years.
Banro Corporation is a Canadian gold mining company focused on production from the Twangiza and Namoya mines, which began commercial production in September 2012 and January 2016 respectively. The Company's longer-term objectives include the development of two additional major, wholly-owned gold projects, Lugushwa and Kamituga. The four projects, each of which has a mining license, are located along the 210 kilometres long Twangiza-Namoya gold belt in the South Kivu and Maniema Provinces of the DRC. All business activities are followed in a socially and environmentally responsible manner.
