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Wednesday, 25th July 2007 (1764 views)

Rangold Resources has said that the support of Mali's government and people has been integral to its Morila mining project.

Chief executive Mark Bristow commented at a news conference: "Morila's success would not have been possible without the support of Mali's government and people."

A joint venture between Rangold Resources, AngloGold Ashanti and the government of Mali, the Morila mine is investing in exploration for further gold deposits, it was announced.

Mr Bristow stated that the Morila mine has produced 4.4 million ounces of gold so far, adding that "Randgold Resources' experience at Morila has been so positive that it has encouraged us to develop another major gold mine in Mali".

This second project, the Loulo mine, is producing 250,000 ounces of gold annually, the chief executive asserted.

He also voiced the company's intention to ensure that the Morila project produces at "optimal capacity" for its duration, as well as its commitment to exploring the entire lease area to determine any further gold mineralization.

As well as its Mali operations, Rangold Resources has completed a prefeasability study on the Tongon deposit in Cote d'Ivoire and has a portfolio of prospective exploration projects in Senegal, Burkina Faso, Ghana and Tanzania.

 

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