Banro’s lower gold output leaves year-end guidance out of reach

Dual-listed Banro Corporation’s Twangiza and Namoya operations produced a combined 38 739 oz of gold during the second quarter of this year, bringing the year-to-date production to 84 954 oz of gold. The lower-than-expected gold production from both mines, along with the ongoing challenging operating environment given the current instability in the Democratic Republic of the Congo (DRC), during the first six months of this year, will see the company fall short of its full-year gold production guidance, Banro said in an update to shareholders this week.