TORONTO (miningweekly.com) – The government of the Democratic Republic of Congo has officially confirmed the validity and legality of Canadian explorer Banro's mining convention and mining licences in the country, the firm reported on Wednesday.

Banro has four gold projects in the DRC, and recently completed a feasibility study on the most advanced of the four, Twangiza.

The company held discussions with government officials, including the deputy Prime Minister and Minister of Mines, after noting investor concern regarding its position in the country, as a result of the mining contract review and renegotiation process being conducted by the government.

"Banro will get our full support and assistance from the central and regional governments of the DRC to ensure we together achieve Banro's objectives, as they move forward to build their projects," said Minister of Mines Martin Kabwelulu, in a statement distributed by the company.

Banro shares rose 4,7% on Wednesday, to C$1,56 apiece by 15:09 in Toronto.

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