Randgold Resources Ld: Opportunities for gold miners in Africa
03.03.2014 | Marketwired
JERSEY, CHANNEL ISLANDS--(Marketwired - Mar 3, 2014) - Randgold Resources Ld (
Randgold Resources Ltd.
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
OPPORTUNITIES OUTWEIGH CHALLENGES FOR GOLD MINERS IN AFRICA
Toronto, 3 March 2014 - There are many challenges to mining in Africa
but there are even more opportunities open to those with the vision to
grasp them, Randgold Resources chief executive Mark Bristow said
today. Randgold operates gold mines in Mali, Cote d'Ivoire and the
Democratic Republic of Congo.
Speaking at the PDAC convention here, Bristow said the depletion of the
traditional gold mining regions was forcing gold miners to turn to
highly prospective emerging countries previously regarded as too
risky. At the same time, the end of the Cold War had opened up gold
fields in Africa and other emerging markets that had long been
difficult or impossible to access."If you want to hunt elephants you have
to go to elephant country, and
if you want to find world-class gold deposits, Africa is a very good
place to look. West and Central Africa now rank high among the world's
premier gold destinations," he said."I've been involved in mining in Africa
for 30 years and in that time I
have seen great changes in the continent. Slowly but steadily, if
sometimes painfully, it is emerging from centuries of exploitation and
oppression as its people increasingly demand economic and political
freedom, and accountability from their leaders. I am proud that in its
way, Randgold has pointed to what can be achieved here. Born and
raised in Africa, run by Africans and focused entirely on African
assets, Randgold has become a truly world-class company, listed on the
London Stock Exchange and NASDAQ, part of the FTSE 100, with some of
the leading global funds as its shareholders."
He cautioned prospective investors in Africa that securing their social
licence to do business there was as important as getting the technical
and financial aspects of a project right. Randgold's success in
Africa, he said, would not have been possible without its partnership
philosophy, which recognises host countries and their people as
stakeholders in the company."Mining should be seen as a force for good,
which converts national
assets into sustainable economic benefits, in close cooperation with
governments and communities," he said.
Bristow also warned that the search for new multi-million ounce gold
deposits was being hampered by the trend of junior mining companies
neglecting their traditional role as explorers to focus on developing
marginal assets. It would be better for the gold mining industry and
for African mining countries, he said, if the juniors stopped trying to
be developers of marginal assets and reverted to being explorers and
entrepreneurs with a focus on finding world class deposits.
RANDGOLD ENQUIRIES:
Chief Executive Financial Director Investor & Media Relations
Mark Bristow Graham Shuttleworth Kathy du Plessis
+44 788 071 1386 +44 1534 735 333 +44 20 7557 7738
+44 779 775 2288 +44 779 771 1338 Email: randgold@dpapr.com
Website: www.randgoldresources.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the
historical information contained herein, the matters discussed in this
news release are forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934, and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the estimation
of mineral reserves and resources, the realisation of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as 'will', 'plans', 'expects'
or 'does not expect', 'is expected', 'budget', 'scheduled','estimates',
'forecasts', 'intends', 'anticipates' or 'does not
anticipate', or 'believes', or variations of such words and phrases or
state that certain actions, events or results 'may', 'could',
'would','might' or 'will be taken', 'occur' or 'be achieved'. Assumptions
upon
which such forward-looking statements are based are in turn based on
factors and events that are not within the control of Randgold
Resources Limited ('Randgold') and there is no assurance they will
prove to be correct. Forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Randgold to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to: risks
related to mining operations, including political risks and instability
and risks related to international operations, actual results of
current exploration activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined, as well
as those factors discussed in Randgold's filings with the US Securities
and Exchange Commission (the 'SEC'). Although Randgold has attempted to
identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Randgold does not undertake to update any forward-looking
statements herein, except in accordance with applicable securities
laws. CAUTIONARY NOTE TO US INVESTORS: The SEC permits companies, in
their filings with the SEC, to disclose only proven and probable ore
reserves. We use certain terms in this report, such as 'resources',
that the SEC does not recognise and strictly prohibits us from
including in our filings with the SEC. Investors are cautioned not to
assume that all or any parts of our resources will ever be converted
into reserves which qualify as 'proven and probable reserves' for the
purposes of the SEC's Industry Guide number 7.
This information is provided by RNS
The company news service from the London Stock Exchange
END
