https://www.engineeringnews.co.za

Randgold refutes Sokimo’s claims around Barrick merger affecting Kibali ownership

28th September 2018

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

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.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

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:0.064 1.331s - 140pq - 2rq
Subscribe Now