19th Oct 2015 09:28
LONDON (Alliance News) - Randgold Resources Ltd is expecting to close an acquisition before the end of 2015 as it is "aggressively engaged" in seeking new mining opportunities in the Democratic Republic of Congo, Bloomberg reported Friday.
Speaking at the IPAD mining conference in Congo's capital, Kinshasa, Chief Executive Mark Bristow said he is in discussions with various permits holders in the north-eastern area of the country, adding the company is "far advanced" in some discussions.
According to Bloomberg, Bristow said in February he had made an approach to acquire a majority stake in billionaire Dan Gertler's Moku-Beverendi project, which has exploration permits adjoining Randgold?s Kibali mine. However, Gertler family-owned business that held the permit, Fleurette Group, said it had no intention of selling up.
Kibali, a joint venture between Randgold, AngloGold Ashanti Ltd of South Africa and Congo's state-owned mining company Sokimo, produced 526,627 ounces in its first full year of operation in 2014. Kibali is on course to produce more than 600,000 ounces this year, Bristow told reporters Friday in Kinshasa.
http://www.bloomberg.com/news/articles/2015-10-16/randgold-resources-expects-to-close-congo-mining-deal-this-year
By Joshua Warner; [email protected]; @JoshAlliance
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