Access to hydropower would have a big impact in turning Moto Goldmines to positive account in the Democratic Republic of Congo, Randgold Resources CEO Dr Mark Bristow said.

Bristow was answering questions during a global conference call that followed London-listed Randgold Resources and Johannesburg-listed AngloGold Ashanti’s teaming together to acquire Moto in a $488-million transaction.

“Hydropower is absolutely critical to be able to get close to the commercials that have been published,” Bristow said.

The region was bereft of infrastructure to make use of diesel, which was, in any event, expensive.

Bristow said that the installation of hydropower capacity fitted neatly into Randgold’s proposed development plans.

Bristow was reluctant to divulge the reaction of the Moto board and management to the 7% premium cash offer, with optional share alternatives, and it was still unknown whether or not the deal for 22,5-million resource ounces, of which 5,5-million could be mined, would gain shareholder approval.

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