Island presence helps miner to aid poor in Africa

A HIGHLY successful gold mining company has been able to reinvest more into poor African countries by being in Jersey than would have been possible had it been based in a state with high corporate taxes.

The chief executive of gold mining business Randgold Resources, Mark Bristow,
The chief executive of gold mining business Randgold Resources, Mark Bristow,

A HIGHLY successful gold mining company has been able to reinvest more into poor African countries by being in Jersey than would have been possible had it been based in a state with high corporate taxes.

The chief executive of gold mining business Randgold Resources, Mark Bristow, says that the corporate structures available to the company by being based in the Island allow it to plough more support back into the countries in which it operates.

This week Randgold, whose offices are in La Motte Street, reported record profits of more than half a billion US dollars and a record amount of gold mined in its operations across the African continent during 2012.

Mr Bristow said that he had enjoyed the fact that the company had been able to progress social projects and improve the lives of many in those states.

Comments for: "Island presence helps miner to aid poor in Africa"

J-Cat

Ah, that's why they chose Jersey, philanthropy..