Randgold feels better about Mali
10th Apr 2012
BAMAKO, Mali, Apr 10 – It would have seemed unlikely a couple of weeks ago, but the Mali coup attempt has left prominent expatriate miner Randgold Resources with increased confidence in the security of mining in the West African country.
The coup attempt finally ended at the weekend with the disaffected military group that seized power agreeing to reinstate the constitution – and deposed president Madou Toumani Touré formally resigning his position.
Next steps are the appointment of an interim prime minister to manage the return to democratic government. Mali’s neighbours in the Economic Community Of West African States lifted their sanctions and committed to support the restoration of stability.
Randgold, which operates the Loulo/Gounkoto mine complex and also operates the Morila joint venture with AngloGold Ashanti, says the disruptions following the coup had not materially affected its gold production . Chief executive Mark Bristow says the resolution of the crisis strengthened the company’s confidence in the political maturity of the West African region.
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