SOURCE: Randgold Resources

August 01, 2014 10:39 ET

Randgold Resources Limited: Loulo-Gounkoto Success Drives Sustainable Delivery of Local Community Benefits

LOULO, MALI--(Marketwired - Aug 1, 2014) - RANDGOLD RESOURCES LIMITED (LSE: RRS) (NASDAQ: GOLD) - The Loulo-Gounkoto gold mining complex, the largest of its kind in Mali and one of the largest in Africa, continues to make strong headway in its drive to increase production and contain costs, Randgold Resources' chief executive Mark Bristow said here today. Randgold owns 80% of the complex with the state of Mali holding the rest.

Bristow told a media update briefing that the complex's importance to the Malian economy was demonstrated by the fact that it currently accounts for some 8% of the country's GDP. In addition to the substantial contribution it makes to the Malian treasury in the form of dividends, taxes and royalties, Loulo-Gounkoto's continuing success has also enabled it to provide a wide range of life-changing benefits to local communities. This, he said, was in line with Randgold's commitment to share the value it created with all its stakeholders, including the people of its host countries.

One of the major achievements of this approach was the significant contribution Randgold was making to national skills growth in Mali through scholarship programmes, hands-on training and career development. As a direct result of this effort, Loulo-Gounkoto is managed and operated by an almost entirely Malian team, with the country's nationals accounting for 94% of the total workforce.

In addition, the complex has set up community-led commissions to direct each of its strategic community investment sectors, including potable water provision, education, healthcare and food security. Investment projects are run by the community, with guidance from Loulo-Gounkoto's management.

Please click on the following link to view the full announcement.

Contact Information

    Chief Executive
    Mark Bristow
    +44 788 071 1386
    +223 66 75 01 22

    Group Regional Manager West Africa
    Mahamadou Samake
    +223 66 75 61 36
    +223 20 20 16 94

    Investor & Media Relations
    Kathy du Plessis
    +44 20 7557 7738