Jersey mining company set to become global leader

A JERSEY gold-mining company is playing a key role in bringing long-lasting economic benefits to one of Africa’s largest but conflict-ravaged countries, according to the firm’s chief executive.

Could Jersey company become global gold mining leader?
Could Jersey company become global gold mining leader?

A JERSEY gold-mining company is playing a key role in bringing long-lasting economic benefits to one of Africa’s largest but conflict-ravaged countries, according to the firm’s chief executive.

Randgold Resources will start producing gold from the giant Kibali project by the end of this year. It is expected to produce 600,000 ounces from next year, making it one of the largest gold mines in the world.

Read the full story in today's JEP.

Comments for: "Jersey mining company set to become global leader"

Mike S

Misleading headline! I believe that this company has no operations in Jersey..it is just registered here for tax reasons. It would be interesting to know if we will receive any tax income from the vast profits that they will earn from this mine.

Alan

wonder why they don't just pay what there suppose to pay where ever the mine is unless it's in St Ouen i've not been out there lately maybe the gold mine is at Plemont, but then again i guess it's just that we have not yet stopped raping Africa yet ! Maybe if they paid proper taxes there people in jersey would not have to go running around with T-shirts saying running for Africa

James Wiley

Well they have reported (elsewhere) that 50% of the revenue, will be given to the Democratic Republic of Congo, which is far more than most companies give.

So let's not be too harsh.

Pip Clement

Is Rangold just a brass plate on a lawyer's office wall or does it have a local office that does some accounting and management functions?

I suspect that the share registry is farmed out.

What does it pay in to the local coffers?

Rebecca

Great news! What people probably don't know is that this company employs the local people where the mines are situated. If it is registered in jersey for tax reasons does it really affect locals? It is good for jersey and the finance sector which is jersey's biggest employer. Go ahead and moan but moan about things that are important like immigration, lack of jobs for locals don't moan about a company which does so much for communities that have nothing. Yes I can see the comments now, we are lucky we have clothes and a roof over our heads!

CrunchyFrog

Excellent.

And for the naysayers - yes this company employs locally and has an office - there are also other local companies which benefit from Randgold such as those that provide AGM support etc.

twob

Having worked in gold mines,i cant see those guys in the picture getting 600,000 ounces of refined gold out with shovels !