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Randgold Resources: Africa's mining countries must try harder

JERSEY, CHANNEL ISLANDS -- (Marketwired) -- 02/04/14 -- Randgold Resources (LSE: RRS) (NASDAQ: GOLD)


RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD




BRISTOW TO AFRICA'S MINING COUNTRIES: MUST TRY HARDER

Cape Town, 4 February 2014 - Growing uncertainty about the regulatory
environments and tax regimes in Africa's mining jurisdictions is
discouraging international investment in these countries' mining
industries, Randgold Resources chief executive Mark Bristow said today.

Speaking at the annual Mining Indaba, Bristow said that for Africa's
abundant mineral wealth to be brought to account, the governments of
the mineral-rich countries and the investors in and developers of those
assets should recognise that their interests are closely aligned and
work together. "In other words, what Africa needs are partnerships for
prosperity," he said.

Bristow noted that the Fraser Institute in Canada, which annually
surveys some 100 mining jurisdictions across the world to rate their
overall attractiveness to investors, or Policy Potential Index (PPI),
had recently downgraded Africa's average PPI for the fifth year
running. Survey respondents cited increasing uncertainty about African
countries' intentions regarding their mineral resources as the key
factor in diminishing investor confidence."The mining code reviews of the
past few years and those currently
underway in a number of African countries have undoubtedly aggravated
this uncertainty by creating the impression that their governments not
only want a bigger slice of the pie, they want to take that before the
pie is even baked," he said. This, he added, was happening at the time
when the gold mining industry was severely pressured by the drop in the
gold price and was cutting back on exploration and project
development."Randgold's own experience has shown that, despite the stresses
on both
sides, mutually beneficial partnerships between governments and miners
are still possible," Bristow said.

He cited Randgold's involvement in Cote d'Ivoire as one example of such
a partnership. Thanks to strong local relationships, the company was
able to develop its Tongon mine in the aftermath of a civil war and
then commissioned it successfully during another period of strife. It
also worked with the government in its revision of the country's mining
code and this cooperation has resulted in an investor-friendly final
draft currently being ratified.

Bristow said Cote d'Ivoire's willingness to work with mining companies
on equitable terms had not gone unnoticed. Several international
companies were expanding their presence there and Randgold itself was
building a portfolio of very promising Ivorian permits.

Mali has also demonstrated the benefits a committed partnership could
deliver, he added. Randgold has been in that country for almost 20
years and while dealing with its share of challenges has grown into a
major contributor to the Malian economy - the company's
Loulo-Gounkoto complex there ranks as one of the largest in Africa -
and elevated Mali into Africa's top three gold producers.

On the downside, Bristow said, the current mining code review process
in the Democratic Republic of Congo - host to Randgold's recently
commissioned Kibali mine - had been rather confused. "I hope there
will soon be a high-level government intervention to ensure that the
investment platform the DRC created is not now damaged," he said.

Senegal, where Randgold's Massawa project is located, was another cause
for concern. The country has announced its intention of revising its
mining code with the clear intention of collecting more revenue and,
unlike Randgold's other host countries, it proposes to do this without
an open engagement with the industry."We think this is misguided," Bristow
said. "Despite its record of
political stability, Senegal has not succeeded in attracting any
significant investment in its fledgling mining industry. Its focus
should be on encouraging investment in building that industry on the
back of the country's undisputed prospectivity."


RANDGOLD ENQUIRIES

Chief executive        Investor & media relations
Mark Bristow           Kathy du Plessis
+447880711386          +442075577738
+223 66 75 01 22       Email:[email protected]

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 release, 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

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