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Canadian miner Banro looking to sell Congo gold mine at discount -CEO

KINSHASA (southafricnews) – Canadian miner Banro is looking to sell its Namoya gold mine in eastern Congo at a significant discount, its chairman told southafricnews on Friday, blaming the government’s failure to improve security in the area following a kidnapping of staff last year.

Repeated attacks by local militias forced Banro Corporation to suspended operations at several of its sites in Democratic Republic of Congo in September.

The company has already sold its Twangiza mine to minority shareholder Baiyin International Investments of China to help bolster finances, Chairman Brett Richards said.

Reporting and writing by Hereward Holland; editing by Juliette Jabkhiro and Jason Neely

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