Randgold Resources

Based in Jersey, Randgold Resources is a public company primarily focused on the mining, exploration and development of gold. It is listed on the London Stock Exchange. It only has operations located in Mali, Africa but has goals of expanding in the coming months.

Using 2008 data, it is revealed that the company has a net income of $47 million US Dollar equivalent, an operating income of $75.9 million US Dollar equivalent, and revenues of $338.6 million US Dollar equivalent. In 2006 the company produced over 2.5 million ounces of Gold in its Morila mine, and a total of 11.74 million ounces overall. They have over 99 tonnes of gold reserves from all of their active mines. The average US Dollar equivalent price per ounce of gold produced by Randgold Resources is $550.

Compared to other mining companies Randgold Resources is fairly small and quite new to the industry, only being formed in 1995, and listed on the NASDAQ and London Stock Exchange in 2001 and 1997 respectively. The company funded and developed the Morila mine at the end of 2001, and since that date has output around 4.85 million ounces of gold, as well as paying out over US $1.2 billion to its shareholders. Randgold also created and expanded the Loulo operation, which began production at the end of 2005, housing two complete mines. On top of this two below-ground pits are in the development stages nearby; - firstly located at the Yalea deposit, which will deliver ore to the plant and secondly at the Gara deposit, which is in the last leg of planning. More recently the company began development at its Tongon mine, which will begin operations at the beginning of 2010.

Randgold’s current corporate structure places Philippe Lietard as the chairman of the board, with 7 directors below him. Their current company vision is to expand beyond their current base, emerging as a leading globally active mining company, whilst maintaining high levels of safety and social ethics for its employees and the communities it works with.

Copyright © SilverAndGold.biz 2015 All rights reserved.| Privacy | About | Contact