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Randgold Resources’ Kibali mine could turn DRC’s Orientale into the next Katanga

By: Pimani Baloyi Newly established gold mining project Kibali – a standalone investment by mining major Randgold Resources – situated in the Democratic Republic of Congo’s (DRC’s) Orientale province – has the potential to significantly boost the local economy, says strategy and communications consulting firm... 

Randgold replacing quality ounces, with quality ounces 

By: Henry Lazenby One of the most critical elements the global gold mining industry is not getting right is replacing mined ‘quality ounces’ with the same quality ounces, which is one of the simplest ways to keep operating costs low and maintain margins, Africa-focused Randgold Resources CEO Mark Bristow told a... 

Randgold profit up 80% despite 3% drop in gold price

By: Leandi Kolver Africa-focused miner Randgold Resources’ profit increased by 80% quarter-on-quarter to $97.5-million during the three months ended September, despite a 3% drop in the average gold price, owing to strong performance at its flagship Loulo-Gounkoto complex in Mali. However, the drop in the average... 

Côte d'Ivoire has enormous gold exploration potential – Bristow

By: Natasha Odendaal Despite facing its own drawn-out battles in establishing a sustainable mining operation in Côte d'Ivoire, Randgold Resources CEO Mark Bristow believes the West African country has the potential to become one of sub-Saharan Africa's key exploration destinations. The West African country was... 

Kibali start-up could signal long-term value creation in DRC 

By: Henry Lazenby LSE- and Nasdaq-listed Randgold Resources on Thursday said the new Kibali gold mine, which started production last month, could be the catalyst for substantial long-term value creation in the Democratic Republic of Congo (DRC) if it was handled correctly by all its stakeholders. Randgold CEO... 

Kibali pours first gold ahead of schedule

By: Henry Lazenby The giant Kibali gold project, in the Democratic Republic of Congo (DRC), has successfully started production ahead of its original year-end target and is still in line with capital forecasts, part-owner Randgold Resources CEO Mark Bristow said ahead of addressing the Denver Gold Forum on... 

Randgold H1 profit falls on weak gold price

By: Natasha Odendaal LSE- and Nasdaq-listed Randgold Resources maintained profitability – albeit at lower levels – during the first half of the year despite a downturn in the gold price. The group on Wednesday reported that its first-half profit of $135.7-million – a decline from the $245.8-million recorded during... 

Mining giant executive director retires

Mining giant AngloGold Ashanti reports that Tony O’Neill, who served as an executive director on the company’s board of directors, has taken early retirement, also relinquishing his position at the company as business and technical development executive VP. O’Neill assisted the gold miner in... 

Randgold positively positioned in Mali – Bristow

By: Natasha Odendaal Despite the downturn in the gold price that has plunged much of the gold mining industry into crisis, London-listed Randgold Resources believed it could maintain its positive position in Mali. CEO Mark Bristow said its development of the Morila operation, which had delivered in excess of... 

Tongon springboard for Randgold's further Côte d'Ivoire exploration

By: Natalie Greve Despite the prevalence of uncertainty around Côte d'Ivoire’s mining code, Randgold Resources CE Mark Bristow has said that the company remains committed to working with that country’s government to build a sustainable mining industry and will use its Tongon operation as a platform from which to... 

Randgold’s giant DRC project prepares to pour first gold

By: Henry Lazenby Africa-focused Randgold Resources is preparing for the first gold pour at its Kibali project, in the Democratic Republic of Congo (DRC). Randgold said the project had advanced to the immediate preproduction development stage and more than a million tonnes of ore from the openpit mine had already... 

Bristow calls for cooperation between govts, miners amid tumbling gold price 

By: Idéle Esterhuizen The falling gold price in recent months has emphasised the need for governments of mineral-rich countries to cooperate with mining companies in the optimal development of their resources, Randgold Resources CEO Mark Bristow has urged. At the end of June, the gold price plummeted to $1 180, its... 

Randgold secures ‘attractive’ $200m revolving loan

By: Natalie Greve London- and Nasdaq-listed Randgold Resources has entered into an unsecured $200-million revolving credit facility with bankers HSBC, Barclays, Citibank and Standard Chartered, for “general corporate purposes”. HSBC acted as the sole bookrunner on the facility with the other banks acting as... 

Randgold cuts capital spend on weak gold price, performance

By: Henry Lazenby London- and Nasdaq-listed Randgold Resources on Thursday said it would cut its capital spending and reduce production from its Loulo-Gounkoto complex, in Mali, as it too was negotiating the effects of a sharply lower gold price, and a weaker first-quarter performance. Randgold said a planned... 

Randgold ‘rapidly advancing’ growth projects – Bristow

By: Idéle Esterhuizen Africa-focused miner Randgold Resources is rapidly advancing its further growth projects and examining new joint-venture opportunities, CE Mark Bristow said on Thursday. At the release of the company’s 2012 annual report, he emphasised that Randgold’s top priority would be to pour first gold at... 

Randgold Resources to remain dividend-driven midtier producer

By: Henry Lazenby Africa-focused miner Randgold Resources on Wednesday affirmed its intention to remain a dividend-driven midtier gold producer in a global mining environment of rising costs and difficult equity and debt markets. CE Mark Bristow said that after the past number of years’ sustained gold price above... 

Mining code change threatening investment – Randgold

By: Martin Creamer Mining code changes proposed by a number of African countries would deter further investment, Randgold Resources CE Mark Bristow warned on Tuesday. Bristow told the Investing in African Mining Indaba that with gold exploration and mining shifting from the developed countries to the world’s... 

Randgold reports higher profit, expands DRC presence

By: Natasha Odendaal London- and New York-listed Randgold Resources on Monday reported a 16% increase in profit for the 2012 full-year to $510.7-million, compared with the $441-million profit recorded the year before. Basic earnings a share rose 12%, from $4.20 in 2011, to $4.70.  

Kibali to create economic value for entire DRC – Bristow

By: Creamer Media Reporter The Kibali gold project currently being developed by Randgold Resources in the Democratic Republic of Congo (DRC), would bring lasting economic benefits to the entire country, CE Mark Bristow asserted on Thursday. Randgold owned 45% of the project and would operate the mine, which was scheduled... 

Randgold says operations unaffected by renewed Mali unrest

By: Henry Lazenby Africa-focused gold producer Randgold Resources on Monday said its Loulo-Gounkoto gold mining complex, as well as its Morila joint venture were operating normally following the declaration of a state of emergency in Mali over the weekend, as French forces joined the Malian army in putting down an... 

Randgold says DRC gold project receives ball mills

By: Henry Lazenby Development of the significant Kibali gold project, in the Democratic Republic of Congo (DRC), has achieved a significant advance with the arrival on site of the two ball mills that would form the heart of its metallurgical plant. The two European-built 7 MW mills, each weighing 170 t, were... 

Randgold profit dips on lower production, sales

By: Henry Lazenby Investors in London- and New York-listed Randgold Resources punished the company’s share price on news that its third-quarter results missed earnings and revenue expectations, as a result of deferred sales and lower production, shaving 8.93% off its value on the Nasdaq on Wednesday morning.... 

Mills en route to new DRC gold mine halfway across Africa

By: Nomvelo Buthelezi Two 7 MW mills are being transported halfway across Africa, from the Port of Mombasa on the east coast to the Kibali gold project, in Doko, in the north-east of the Democratic Republic of Congo (DRC). 

Cote d'Ivoire windfall tax threatens Randgold expansion – CEO

By: Reuters Cote d'Ivoire's new windfall tax on gold profits could hamper plans by Randgold Resources to branch out from its Tongon mine and launch new projects in the West African nation, the miner's chief executive said. Cote d'Ivoire's government in September adopted a 19% tax on gold profits, seeking to... 

Bristow warns African countries against mining code changes

By: Henry Lazenby Current moves in a number of African countries to amend mining codes on terms less favourable to the mining companies were dangerously short-sighted as they did not take into account the increased risk this might present to the long-term sustainability of the resources industry and its ability to... 

Randgold undeterred by Mali unrest, lifts profit

By: Henry Lazenby Africa-focused gold miner Randgold Resources had lifted its second-quarter profit by a significant margin, despite having dealt with political uncertainty in Mali and potential mining policy changes in the Democratic Republic of Congo (DRC). The London-based miner on Thursday said it was “firing... 

Mining company thrives in West Africa

Randgold Resources has posted a robust performance for the first quarter of this year despite the challenges presented by a coup in Mali, the expansion of its Loulo-Gounkoto complex and the stabilising of its new Tongon mine in Côte d’Ivoire. In the Democratic Republic of Congo (DRC),... 

Openpit mining starts at Randgold's DRC project

By: Nomvelo Buthelezi Gold mining and exploration company Randgold Resources has started openpit mining at its Kibali gold project in the Democratic Republic of Congo (DRC). The company states that the project remains on track for first production towards the end of 2013. 

DRC should apply mining code efficiently, consistently – Bristow

By: Henry Lazenby Africa-focused gold miner Randgold Resources CEO Mark Bristow on Wednesday told a Democratic Republic of Congo (DRC) Ministry of Mines conference on the country's mining code, which is currently being reviewed, it did not have a problem with the code as it currently stood, only with the... 

Randgold CEO raises $500 000 for charity on motorcycle trip

By: Natasha Odendaal Randgold Resources CEO Mark Bristow raised more than $500 000 for charity after completing a 13 000 km charity motorcycle marathon across 17 countries, the company reported on Wednesday. The mining leader’s team, 3boyzonbikes, which included Bristow’s two sons, travelled an estimated 820 km or... 

Bristow party departs on motorcycle expedition to Abidjan

By: Henry Lazenby Randgold Resources CE Mark Bristow on Friday departed on a 10 500 km, six-man expedition from Bagshot, in the UK, to Abidjan, in Côte d’Ivoire, to raise funds for a number of charities. This is the second trip for fundraising purposes to be undertaken by Bristow and his party on specially... 

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