Randgold shares lose their glister after coup
Shares in the FTSE 100 gold miner Randgold Resources dived by 13 per cent yesterday after a military coup in Mali, where it signed a major deal only the day before.
Randgold, which has a large presence in the African country, rushed out a statement saying that it "was keeping a close watch on developments in Mali, where elements of the army appear to have mounted a coup attempt".
This came less than 24 hours after the company's chief executive, Mark Bristow (pictured), established a separate company in order to look after Randgold's Gountoko mine near the border with Senegal.
Mr Bristow, who yesterday was staying near Gountoko, 350km west of the capital, Bamaku, on Wednesday, hailed the new company as "the latest milestone in the long and mutually beneficial partnership between the state of Mali and Randgold". Randgold owns 80 per cent of Gountoko SA, with the Malian government owning the remainder. A separate company was established to control the mine because of its sizeable, 5.5 million ounces of estimated reserves.
Rebel troops were reported to have taken over Malian state radio and announced they had seized control of the country.
Mr Bristow said that the company's operations across Mali were "running normally".
"Malians respect laws and I don't believe this will come with a high-handed change in political direction," he said.
"We don't expect any subsequent governments to disregard proper and due process."
As Voltaire once said, “Ice cream is exquisite. What a pity it isn’t illegal”
- 1 Mother fed her daughter tapeworms to make her skinny for beauty pageant
- 2 Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
- 3 Crystal Palace next manager latest: Palace consider Ally McCoist - EXCLUSIVE
- 4 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 5 Tim Sherwood column: 'It started as a three-horse race but turned into the Grand National'
'Alien thigh bone' on Mars: Excitement from alien hunters at 'evidence' of extraterrestrial life
West poised to join forces with Assad in face of Islamic State
Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – as hunt begins for killer
ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Bin bag full of cats' heads discovered near Manchester's Curry Mile
Disgusting, frustrating, but intriguing: how the country really feels about its politicians
iJobs Money & Business
£20000 - £27000 per annum: Harrington Starr: Service Desk Analyst- (Desktop Su...
£25000 - £35000 per annum: Harrington Starr: Service Desk Analyst - (Active Di...
£30000 - £50000 per annum: Harrington Starr: Junior Quant Analyst - C++, Boost...
£30000 - £50000 per annum: Harrington Starr: Junior Quant Analyst (Machine Lea...