Randgold Resources has refuted reported claims by Democratic Republic of Congo State miner Société de Miniere de Kilo-Moto SA (Sokimo) that the proposed merger between Barrick Gold and Randgold will introduce a new partner in the Kibali joint venture.
Randgold said the proposed merger would have no effect on Kibali Goldmines in which Randgold has an indirect 45% interest, while Sikomo holds 10%. The other joint venture (JV) partner is AngloGold Ashanti, which holds 45%.
“There are no provisions in the JV agreement and the related documentation which give Sokimo any rights resulting from the proposed merger,” stated Randgold.
Randgold added that it had consulted comprehensively with Sokimo at board and executive level in the days following the announcement of the proposed merger between it and Barrick, as well as with the DRC Minister of Mines and other interested parties around the proposed transaction.
Sokimo stated that the foreign companies are imposing themselves without any prior discussion, in the countries from which the resources that make up their wealth are extracted.
Canada’s Barrick earlier this week agreed to buy Randgold in an $18.3-billion share deal to create the world’s largest gold company by value and output.