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RANDGOLD RESOURCES: Model mining code will draw investors


Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD


Abidjan, Cote d'Ivoire, Cote d'Ivoire's investor-friendly new mining code, developed in close collaboration with its mining industry, will accelerate the country's emergence as a significant gold producer, Randgold Resources chief executive Mark Bristow told a media briefing here today. Randgold operates the Tongon gold mine in Cote d'Ivoire and has extensive exploration holdings elsewhere in the country.

Bristow noted that the depletion of the world's mature goldfields had shifted gold miners' focus to new regions, notably in Africa. Despite the continuing fallback in supply from South Africa, once the world's largest gold producer, Africa still accounted for 20% of global gold output, thanks to the recent growth of the gold mining industries elsewhere on the continent, notably in West Africa."Considering the continent's vast mineral wealth, however, it still has a long way to go to deliver on its full potential," Bristow said."Investors are deterred by the political and infrastructural risks associated with Africa, but in Cote d'Ivoire we have shown how these challenges can be overcome by a true partnership between a mining company, the government and the people."

This spirit of cooperation was evident in the process of formulating the new code, said Bristow, and he was sure that the country's mining companies would also be involved in the finalisation of the decree of application which will lay down the rules for the code's implementation. "It's now all about delivery by the government as well as the industry, but the principle has already been established that this country needs business partners, not barriers. That applies to the rest of the continent as well," he said.

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Chief Executive Group Regional Manager West Investor & Media
Africa Relations
Mark Bristow Mahamadou Samake Kathy du Plessis
+44 788 071 1386/ +223 66 75 61 36 / +44 20 7557 7738 /
+223 66 75 01 22 +223 20 20 16 94 [email protected]
Website: www.randgoldresources.com

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