Sunday, February 19, 2017

Four dead after armed robbers storm DRC gold mine - Banro Corp

An armed attack on the Twanziga gold mine in eastern Democratic Republic of Congo (DRC) last week has resulted in four casualties. Among the dead are three policemen that were guarding the mine and one of the robbers, according to a statement on Banro Corp's (TSX:BAA) website.

The open-pit mine, which started commercial production in 2012, is one of four gold mines operated by Banro in the DRC. It was expected to produce 110-120,000 ounces in 2016. According to Reuters the mine has been "plagued by illegal miners squatting on the site and by armed groups, some of the dozens of militias that remain active despite the official end to a regional conflict in 2003."

The Democratic Republic of the Congo is the nineteenth most populous nation in the world, the fourth most populous nation in Africa. A number of Canadian Mining companies have assets in the country, including African Metals Corporation, Banro Corporation, DiamondCore, First Quantum Minerals, ICS Copper Systems Ltd., Lundin Mining Corp., Anvil Mining Ltd., and Katanga Mining Ltd.