Randgold profits go up 16% despite ‘challenges’

JERSEY gold mining business Randgold Resources posted record profits of over half a billion US dollars as well as record production of nearly 800,000 ounces of the precious metal in 2012.

Randgold chief executive and Jersey resident Mark Bristow at the Loulo mine complex in Mali
Randgold chief executive and Jersey resident Mark Bristow at the Loulo mine complex in Mali

JERSEY gold mining business Randgold Resources posted record profits of over half a billion US dollars as well as record production of nearly 800,000 ounces of the precious metal in 2012.

The company, whose chief executive is Mark Bristow and whose offices are in La Motte Street, will also pay a dividend of 50 US cents per share, which is up by ten cents on 2011.

The hugely impressive results were achieved despite facing a range of challenges during the year.

There were difficulties encountered with the expansion of its flagship Loulo-Gounkoto complex in Mali as well as with the the fast-track development of the giant Kibali project in the Democratic Republic of Congo.