https://www.miningweekly.com
Gold|Mining|Resources|Operations
Gold|Mining|Resources|Operations
gold|mining|resources|operations

Canadian miner Banro agrees sale of Namoya mine in Congo

The Namoya mine, in the Democratic Republic of Congo

The Namoya mine, in the Democratic Republic of Congo

23rd June 2020

By: Reuters

  

Font size: - +

JOHANNESBURG – Canadian miner Banro Corporation has agreed to sell its Namoya Mining gold mine in Democratic Republic of Congo to a consortium of investors including Baiyin International Investment and Shomka Resources, it said in a statement on Tuesday.

Banro will receive a perpetual royalty for all production from the Namoya property in eastern Congo, it said. The deal is subject to final approval from Congo's government.

Banro told Reuters in February it was looking to sell Namoya at a significant discount, after repeated attacks by militia forced the company to suspend operations at several mine sites.

To watch Creamer Media's latest video reports, click here
 

Edited by Reuters

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.26 0.295s - 108pq - 2rq
Subscribe Now