logo
Share SHARE
FONT-SIZE Plus   Neg

Randgold Resources Welcomes Mali Settlement; 2012 Production Outlook Unchanged

Randgold Resources Limited (GOLD, RRS.L) welcomed the announcement of a political settlement brokered in Mali by its West African neighbours and said the disruptions which followed last month's military coup had not materially affected its gold production in that country. Over the weekend the military junta said it had agreed to reinstate the constitution, in terms of which the president of the national assembly would act as head of state and oversee the appointment of an interim prime minister to manage the country's return to democratic rule.

Pursuant to the settlement deal, President Amadou Toumani Toure has formally resigned as head of state. The appointment of the interim prime minister would be by consensus and involve civil society and political parties. In return, Mali's ECOWAS neighbours have lifted the sanctions they had imposed and committed to actively support the restoration of stability in Mali.

Chief Executive of Randgold, Mark Bristow, said the announced resolution of the political crisis had strengthened the company's confidence in the political maturity of the West African region and its ability to settle conflict situations without external involvement. Randgold owns and operates the Loulo/Gounkoto mine complex in Mali and also operates Morila, a joint venture with AngloGold Ashanti.

Bristow also added, "Our production guidance for 2012 remains unchanged, although we have not completed our assessment of the impact this situation has had on costs. We will monitor the implementation of the political settlement by the relevant parties, and give the market a full update when we report our first quarter results on 3 May."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A United Airlines gate agent barred two teenage girls from boarding a flight on Sunday for wearing leggings, noting that they failed to meet a dress code for special pass travelers. United spokesman Jonathan Guerin responded that the two girls traveling with a companion would not have been turned away for wearing leggings if they were paying customers. Alteryx, Inc., a provider of self-service data analytics software, is the latest tech company to go public in March. Alteryx said it has priced its IPO of 9 million shares of its Class A common stock at $14 per share, at the top end of its range of $12 to $14 per share. Dunkin' Donuts is bidding adieu to one of its frozen coffee beverages this summer. However, loyal fans of the decades-old menu staple have not taken kindly to the news. The coffee chain said it will discontinue its popular Coffee Coolatta beverage this summer and instead, introduce the new Frozen Dunkin' Coffee, made with coffee extract, sugar and milk.
comments powered by Disqus
Follow RTT