TORONTO (miningweekly.com) – Africa-focused gold producer Randgold Resources has entered into three new joint venture (JV) agreements with juniors in the north-east of the Democratic Republic of Congo (DRC) to look for gold deposits.
The company has partnered with TSX-listed Kilo Goldmines, Deveron Resources and Loncor Resources to bring its land-holdings in the DRC to 6 539 km2. It previously had a JV with Kilo, called Isiro, through which it identified a 10 km target at Yasua-Yambenda through soil sampling, pitting and trenching.
“We believe north-eastern DRC holds a rich potential for such discoveries and we trust the country’s government will partner us in our drive to develop a major gold mining frontier there . . . by ensuring that the current negotiations about a new mining code result in one that will justify the capital already spent and attract further investment,” stated Randgold CEO Mark Bristow.
The company operated the Kibali mine in the same area through a JV with AngloGold Ashanti and State miner Sokimo. It expected to exceed Kibali's production target of 600 000 oz of gold for 2015.