Randgold Refutes SOKIMO's Kibali Claim
Jersey, Channel Islands (FSCwire) - Randgold Resources today refuted reported claims by Société de Miniere de Kilo-Moto SA (SOKIMO) to the effect that the proposed Barrick/Randgold merger will introduce a new partner in the Kibali joint venture in the Democratic Republic of Congo and that it consequently intends to “assert its rights”.
The company said the proposed merger would have no effect on Kibali Goldmines SA, in which Randgold has an indirect 45% interest while SOKIMO holds 10%. The other joint venture partner is AngloGold Ashanti. There are no provisions in the joint venture agreement and the related documentation which give SOKIMO any rights resulting from the proposed merger.
Randgold also noted that it had consulted comprehensively with SOKIMO at board and executive level in the days following the announcement of the proposed merger, as well as with the Minister of Mines and other interested parties regarding the proposed transaction. The company said it would continue to engage with all parties to demonstrate that this transaction was in the interests of all stakeholders.
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Source: Randgold Resources Limited (LSE:RRS, NASDAQ:GOLD, OTC Pink:RGORF, FWB:RGR1)
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