https://www.engineeringnews.co.za

Randgold ends gold venture with Cradle Arc in Mali

10th May 2018

By: Reuters

  

Font size: - +

LONDON – African gold miner Randgold has ended a joint venture agreement in Mali with junior explorer Cradle Arc, Cradle Arc said on Wednesday, adding it would seek a new partner.

Under the agreement begun in February 2016, Randgold held a 65% stake in the Kossanto West Gold Project licences, which will revert to Cradle Arc, now the 100% owner.

Cradle Arc CEO Kevin van Wouw said Randgold had been "an excellent JV partner" that added to the company's understanding of a project he believed contained a significant amount of gold.

Cradle Arc would "actively seek a new partner for the continued exploration and advancement of the licences," Wednesday's statement said.

Mali has attracted a flurry of interest from junior gold explorers and is regarded as a relatively stable jurisdiction compared with some African nations.

Major gold company Randgold has operations in Mali, Cote d'Ivoire, Senegal and Democratic Republic of Congo, where it is in dispute with the government over a new mining code.

It also has a tax dispute with the Mali government.

Randgold, which has a total portfolio of 157 gold mining exploration targets, often forms joint ventures to share cost and risk.

It had no comment on Wednesday's announcement made by Cradle Arc.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.073 0.844s - 140pq - 2rq
Subscribe Now