Shareholders of Barrick and Randgold will vote on Nov. 5 on an all-stock transaction that will create a company with operations in Africa, Australia, North and South America, Saudi Arabia and Papua New Guinea.
Randgold Resources Mining News
The state miner warned it would "assert its rights" in Barrick Gold's acquisition of Rangold's stake in the Kibali mine, but did not provide details of its plans.
Chief Executive Officer Gary Goldberg said while not interested in the entire companies, he would interested in buying Barrick’s half of their shared Kalgoorlie mine in Australia, which Newmont operates.
Randgold's founder Mark Bristow has been a thorn in the side of Barrick Gold Corp. Now he’s its closest partner.
The new Barrick, which will be listed in New York and Toronto, will own five of the world's 10 lowest cost gold mines and will be the world's top bullion producer by both value and output.
Negotiations between management, workers, community leaders and the government created an agreement under which workers are being re-employed in phases.
As a result of the latest stoppage at the Ivory Coast mine and the time it will take to bring it back on line and at full tilt, Randgold will have to review its 290,000-ounce gold output forecast for the year.
DRC's Kibali is moving from underground mining by contractors to owner-mining, as has already happened at the company’s Loulo mines in Mali.
Labour action has brought gold production to a halt.
After six months of lobbying, companies including Glencore and Randgold Resources have got nowhere in their battle to push back against a new mining law that voids existing agreements and increases their costs.
Congo's prime minister wants to immediately implement the new mining code without any concessions to industry demands that key provisions be amended.
Company said new technology will help the DRC mine achieve its 2018 production guidance of 730,000 ounces, despite challenges posed by the country's new mining code.
The strike at the company’s Loulo and Gounkoto mines is related to the payment of bonuses and will continue until the issue is resolved.
Recurrent industrial action by the workforce of a subcontractor it's jeopardizing Tongon's 290,000-ounce production forecast.
At year-end, the company had net cash of more than $700 million and no debt.
Mining companies operating in the country vigorously oppose new code to be signed into law.
Democratic Republic of Congo President Joseph Kabila's plan to discuss proposed changes to mining royalties with mining company representatives on Tuesday has been postponed by a day.
Randgold boosted divvy to $2 a share, after a year of record production and soaring profits, but warned the good times may be over soon as it’s now facing demanding new regulations in Congo, one of its key jurisdictions.
Mark Bristow says the law will “severely limit the growth of the mining industry in the DRC as well as the country's own economic prospects.”
Mine is on track to produce its target of 700,000 ounces of gold in 2018.
Industrial gold production in Mali, Africa's third biggest producer, is on track to exceed earlier forecasts for this year, says government official.
Miner said full-year profit and output was on track despite a third-quarter dip, but its shares slid to a three-month low after its CEO did not rule out seeking arbitration over a tax dispute in Mali.
Company will make final decision on its development by mid next year.
The Morila operation continues to deliver value in its post-mining phase while progressing plans to develop the site into a commercial agricultural hub after its closure in 2019, Randgold Resources chief executive Mark Bristow said at an on-site media briefing today.
The Kibali gold mine’s underground operation, which will significantly increase production, is on track to start commissioning in the third quarter of this year, Randgold Resources chief executive Mark Bristow said at a media briefing here today.