SYS-CON MEDIA Authors: Sean Houghton, Glenn Rossman, Ignacio M. Llorente, Xenia von Wedel, Peter Silva

News Feed Item

Randgold Resources: Africa's mining countries must try harder

JERSEY, CHANNEL ISLANDS -- (Marketwired) -- 02/04/14 -- Randgold Resources (LSE: RRS) (NASDAQ: GOLD)


RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD




BRISTOW TO AFRICA'S MINING COUNTRIES: MUST TRY HARDER

Cape Town, 4 February 2014 - Growing uncertainty about the regulatory
environments and tax regimes in Africa's mining jurisdictions is
discouraging international investment in these countries' mining
industries, Randgold Resources chief executive Mark Bristow said today.

Speaking at the annual Mining Indaba, Bristow said that for Africa's
abundant mineral wealth to be brought to account, the governments of
the mineral-rich countries and the investors in and developers of those
assets should recognise that their interests are closely aligned and
work together. "In other words, what Africa needs are partnerships for
prosperity," he said.

Bristow noted that the Fraser Institute in Canada, which annually
surveys some 100 mining jurisdictions across the world to rate their
overall attractiveness to investors, or Policy Potential Index (PPI),
had recently downgraded Africa's average PPI for the fifth year
running. Survey respondents cited increasing uncertainty about African
countries' intentions regarding their mineral resources as the key
factor in diminishing investor confidence."The mining code reviews of the
past few years and those currently
underway in a number of African countries have undoubtedly aggravated
this uncertainty by creating the impression that their governments not
only want a bigger slice of the pie, they want to take that before the
pie is even baked," he said. This, he added, was happening at the time
when the gold mining industry was severely pressured by the drop in the
gold price and was cutting back on exploration and project
development."Randgold's own experience has shown that, despite the stresses
on both
sides, mutually beneficial partnerships between governments and miners
are still possible," Bristow said.

He cited Randgold's involvement in Cote d'Ivoire as one example of such
a partnership. Thanks to strong local relationships, the company was
able to develop its Tongon mine in the aftermath of a civil war and
then commissioned it successfully during another period of strife. It
also worked with the government in its revision of the country's mining
code and this cooperation has resulted in an investor-friendly final
draft currently being ratified.

Bristow said Cote d'Ivoire's willingness to work with mining companies
on equitable terms had not gone unnoticed. Several international
companies were expanding their presence there and Randgold itself was
building a portfolio of very promising Ivorian permits.

Mali has also demonstrated the benefits a committed partnership could
deliver, he added. Randgold has been in that country for almost 20
years and while dealing with its share of challenges has grown into a
major contributor to the Malian economy - the company's
Loulo-Gounkoto complex there ranks as one of the largest in Africa -
and elevated Mali into Africa's top three gold producers.

On the downside, Bristow said, the current mining code review process
in the Democratic Republic of Congo - host to Randgold's recently
commissioned Kibali mine - had been rather confused. "I hope there
will soon be a high-level government intervention to ensure that the
investment platform the DRC created is not now damaged," he said.

Senegal, where Randgold's Massawa project is located, was another cause
for concern. The country has announced its intention of revising its
mining code with the clear intention of collecting more revenue and,
unlike Randgold's other host countries, it proposes to do this without
an open engagement with the industry."We think this is misguided," Bristow
said. "Despite its record of
political stability, Senegal has not succeeded in attracting any
significant investment in its fledgling mining industry. Its focus
should be on encouraging investment in building that industry on the
back of the country's undisputed prospectivity."


RANDGOLD ENQUIRIES

Chief executive        Investor & media relations
Mark Bristow           Kathy du Plessis
+447880711386          +442075577738
+223 66 75 01 22       Email:[email protected]

Website: www.randgoldresources.com


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the
historical information contained herein, the matters discussed in this
news release are forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934, and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the estimation
of mineral reserves and resources, the realisation of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as 'will', 'plans', 'expects'
or 'does not expect', 'is expected', 'budget', 'scheduled','estimates',
'forecasts', 'intends', 'anticipates' or 'does not
anticipate', or 'believes', or variations of such words and phrases or
state that certain actions, events or results 'may', 'could',
'would','might' or 'will be taken', 'occur' or 'be achieved'. Assumptions
upon
which such forward-looking statements are based are in turn based on
factors and events that are not within the control of Randgold
Resources Limited ('Randgold') and there is no assurance they will
prove to be correct. Forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Randgold to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to: risks
related to mining operations, including political risks and instability
and risks related to international operations, actual results of
current exploration activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined, as well
as those factors discussed in Randgold's filings with the US Securities
and Exchange Commission (the 'SEC'). Although Randgold has attempted
to identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Randgold does not undertake to update any forward-looking
statements herein, except in accordance with applicable securities
laws. CAUTIONARY NOTE TO US INVESTORS: The SEC permits companies, in
their filings with the SEC, to disclose only proven and probable ore
reserves. We use certain terms in this release, such as 'resources',
that the SEC does not recognise and strictly prohibits us from
including in our filings with the SEC. Investors are cautioned not to
assume that all or any parts of our resources will ever be converted
into reserves which qualify as 'proven and probable reserves' for the
purposes of the SEC's Industry Guide number 7.











                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contacts:
RNS
Customer
Services
0044-207797-4400
Email Contact
http://www.rns.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete...
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The cloud is becoming the de-facto way for enterprises to leverage common infrastructure while innovating and one of the biggest obstacles facing public cloud computing is security. In his session at 15th Cloud Expo, Jeff Aliber, a global marketing executive at Verizon, discussed how the best place for web security is in the cloud. Benefits include: Functions as the first layer of defense Easy operation –CNAME change Implement an integrated solution Best architecture for addressing network-l...
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's

"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...