Miners in hunt for Ivory Coast gold
Randgold Resources and Newcrest Mining team up to explore for fresh gold deposits in the Ivory Coast
London-listed Randgold Resources and Australia’s Newcrest Mining have teamed up to explore for fresh gold deposits in the Ivory Coast where the two companies have a presence, marking an increased collaboration by gold miners seeking new mines. Randgold, headed by Mark Bristow, is proud of its mine development track record in West Africa and more recently in the Democratic Republic of Congo, where it is finishing the construction of the Kibali gold mine with AngloGold Ashanti. Newcrest, Australia’s largest gold producer, is in a joint venture at the Wafi-Golpu copper and gold prospect with Harmony Gold in Papua New Guinea. Harmony recently bought Newcrest’s stake in the Hidden Valley gold and silver mine. A number of CEs, including Gold Fields’ Nick Holland and Bristow, have spoken of the global depletion of known gold deposits and the dearth of new large discoveries. While some companies are targeting existing mines to bolster reserves — Harmony is looking for at least 100,000oz of ...
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