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Randgold Resources

Randgold Resources
Company typePublic
LSE: RRS
IndustryMining
Founded1995; 29 years ago (1995)
DefunctJanuary 1, 2019 (2019-01-01)
HeadquartersSaint Helier, Jersey
Key people
Christopher Coleman, Chairman
Mark Bristow, CEO
Revenue$1,280.2 million (2017)[1]
$477.9 million (2017)[1]
$335.0 million (2017)[1]
Number of employees
11,659 (2016)[2]
ParentBarrick Gold

Randgold Resources was a gold mining business operating mainly in Mali. Headquartered in Jersey, Channel Islands, it was listed on the London and the NASDAQ stock exchanges until it merged with Barrick Gold in December 2018.

History

The company was established in 1995 and was first listed on the London Stock Exchange in 1997. In 2000 it commissioned the Morila mine and in 2005 commissioned the Loulo mine.[3] In September 2018, Randgold announced a share-to-share merger with Canada's Barrick Gold Corp in a deal worth $18.3 billion.[4] According to this deal, Randgold Resources investors will hold 33% of the combined company.[5] The transaction was completed in December 2018.[6]

Operations

The company's activities are concentrated on the following mines:

Additional projects are Massawa in Senegal but exploration operations are predominantly undertaken in Mali and the Democratic Republic of Congo. Although registered in Saint Helier, Jersey, Mark Bristow, the CEO, operates mainly out of offices in London, England and the administrative functions are based in Johannesburg, South Africa. Bristow has urged caution about investing in South Africa while the present regime there remains in government.[7]

References

  1. ^ a b c "Annual Results 2017" (PDF). Randgold Resources. Retrieved 11 March 2018.
  2. ^ "Annual Results 2016" (PDF). Randgold Resources. Retrieved 9 April 2017.
  3. ^ "Randgold Resources Limited Announces Investment in Mali Update". Marketwire. 2 August 2005. Retrieved 21 March 2015.
  4. ^ "Canada's Barrick Gold to buy Randgold Resources in $18.3 billion deal". Reuters. Retrieved 24 September 2018.
  5. ^ Patterson, Scott (24 September 2018). "Gold Giant Barrick Agrees to Buy Rival Randgold for $6 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 24 September 2018.
  6. ^ "Auto Trader Up To FTSE 100, Sabre To 250 As Randgold Bows Out". 24 December 2018. Archived from the original on 11 April 2019. Retrieved 31 December 2018.
  7. ^ "Why my company will not invest in SA — Randgold Resources CEO". BD Live. 7 February 2013. Retrieved 26 March 2016.


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