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
Senate Republicans appear poised to approve a budget resolution that will serve as the legislative vehicle for their tax reform plan. The non-binding budget resolution unlocks the reconciliation process, allowing Republicans to pass their tax reform plan with a simple 51-vote majority in the Senate. President Donald Trump intends to nominate antitrust attorney Joseph Simons as chairman of the Federal Trade Commission, the White House announced on Thursday. Simons, who served as an FTC official under President George W. Bush, is currently a partner and co-chair of the antitrust group at law firm Paul Weiss. Less than four months after its debut on the New York Stock Exchange, Blue Apron Holdings Inc. said it is laying off 6 percent of its workforce. In a regulatory filing on Wednesday, the embattled meal-kit delivery company said it has implemented a company-wide realignment of personnel to support its strategic priorities.
comments powered by Disqus
Follow RTT