Jersey mining group to start work at big African gold mine

Monday 6th February 2012, 12:49PM GMT.

Randgold Resources managing director Mark Bristow on a previous visit to Africa in May to deliver medical supplies funded by the company

A JERSEY registered mining group is about to start building what will be one of the largest gold mines in Africa.

Randgold Resources has completed preparatory work at the Kibali fields in the Democratic Rebublic of Congo which are expected to start producing the precious metal at the end of next year.

The Jersey-registered business has a 45 per cent stake in the Kibali project as does AngloGold Ashanti. The remaining ten per cent is held by a Congon entity.
Randgold, which is chaired by Island resident Mark Bristow, is the project manager and operator of the huge mining project which is expected to yield ten million ounces of gold.

In a statement issued last week, Randgold said that construction crew had started mobilising on the site and should be ready to go by the end of the month.

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1
Bunker Hunt

February 6, 2012 at 4:18 pm

It will be interesting to see how much tax on its future profits this entity actually pays in DRC where most people live on less than a $1 a day.

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