Randgold Resources

Randgold Resources was a gold mining company headquartered in Saint Helier, Jersey, with its business concentrated in sub-Saharan Africa. Its principal activities involved the exploration, development, construction, and operation of gold mines rather than the sale of consumer-facing products. Mali was the center of its operating and exploration portfolio, while important assets and projects were also located in Côte d'Ivoire, the Democratic Republic of the Congo, and Senegal. The company was established in 1995 and became a publicly traded business when it listed on the London Stock Exchange in 1997. Its growth was built around the discovery and development of large-scale African deposits, followed by the construction of mines intended to operate as long-life, low-cost assets. The Morila mine in Mali was commissioned in 2000 and became an important early production asset. Randgold later commissioned the Loulo mine in Mali in 2005; the Loulo operation subsequently formed part of the Loulo-Gounkoto mining complex, one of the company's major Mali-based production centers. Randgold's operating portfolio included the Morila Gold Mine and the Loulo-Gounkoto complex in Mali, the Tongon Mine in Côte d'Ivoire, and the Kibali Gold Mine in the Democratic Republic of the Congo. It also held or pursued the Massawa project in Senegal. Exploration and development work was concentrated especially in Mali and the Democratic Republic of the Congo. The company's corporate registration was in Jersey, while its chief executive, Mark Bristow, operated mainly from London and administrative functions were based in Johannesburg. In September 2018, Randgold announced a share-for-share combination with Barrick Gold Corporation of Canada. The transaction was valued at approximately US$18.3 billion, and Randgold shareholders were expected to own about 33% of the combined business. The deal was completed in December 2018. Following completion, Randgold Resources ceased to exist as a separately listed company and its assets became part of Barrick Gold's enlarged mining group. The company is therefore a defunct corporate brand rather than an active independent gold producer.

Randgold Resources was established in 1995 as an Africa-focused gold mining business. Its corporate base was in Saint Helier, Jersey, although the company operated through a geographically distributed management and administrative structure. Mark Bristow, its chief executive, was reported to work primarily from London, while administrative functions were based in Johannesburg. The company's strategy centered on identifying, developing, and operating gold deposits in countries where it believed large-scale mining projects could be established. Randgold became publicly traded on the London Stock Exchange in 1997. Its early development program led to the commissioning of the Morila Gold Mine in Mali in 2000. Morila was an important production milestone and helped establish the company as a significant participant in West African gold mining. In 2005, Randgold commissioned the Loulo mine, also in Mali. Loulo later became part of the broader Loulo-Gounkoto mining complex, which developed into one of the company's principal operating assets. Over time, Randgold assembled a portfolio extending beyond Mali. In Côte d'Ivoire, it operated the Tongon Mine. In the Democratic Republic of the Congo, the company was involved in the Kibali Gold Mine, while exploration and development activity also took place in the country. Randgold additionally pursued the Massawa project in Senegal. Nevertheless, Mali remained the central country in the company's operating and exploration activities. The portfolio reflected a business model based on a limited number of substantial African mines rather than a broad international network of consumer or industrial businesses. The company's corporate history ended through a major transaction with Barrick Gold Corporation. In September 2018, Randgold and Barrick announced a share-for-share merger valued at approximately US$18.3 billion. The announced structure provided for Randgold investors to own roughly 33% of the combined company. The transaction was completed in December 2018. After completion, Randgold Resources was no longer an independent listed company, and its mines and projects became part of Barrick Gold's enlarged portfolio. The merger marked the end of Randgold as a standalone brand and corporate entity.

• 2018

  Merger with Barrick Gold completed

  [1]Randgold Resourcesen.wikipedia.org

  Randgold completed its share-for-share combination with Barrick Gold in December, ending its independent existence.

• 2005

  Loulo mine commissioned

  [1]Randgold Resourcesen.wikipedia.org

  The Loulo mine in Mali was commissioned, later becoming part of the Loulo-Gounkoto complex.

• 2000

  Morila mine commissioned

  [1]Randgold Resourcesen.wikipedia.org

  Randgold commissioned the Morila Gold Mine in Mali.

• 1997

  London Stock Exchange listing

  [1]Randgold Resourcesen.wikipedia.org

  The company became listed on the London Stock Exchange.

• 1995

  Company established

  [1]Randgold Resourcesen.wikipedia.org

  Randgold Resources was established as an Africa-focused gold mining company.

An Africa-focused gold mining company emphasizing the discovery, development, and operation of large-scale mines.

• Precious metals

  Gold

  Gold was Randgold Resources' core output. The company operated and developed mines whose principal commercial purpose was the extraction and production of gold ore and doré. Its business was therefore an upstream mining operation rather than a branded jewelry, bullion, or retail-gold company.

• Gold mine · 2000

  Morila Gold Mine

  Morila was a major Randgold-operated gold mine in Mali and one of the company's earliest important production assets. It was commissioned in 2000 and helped establish Randgold's position in West African gold mining.

• Gold mining complex · 2005

  Loulo-Gounkoto mining complex

  The Loulo-Gounkoto complex in Mali developed from the Loulo operation, which Randgold commissioned in 2005. It became one of the company's principal operating centers and represented the long-term development of multiple related gold assets.

• Gold mine

  Tongon Mine

  Tongon was Randgold's gold mining operation in Côte d'Ivoire. It formed part of the company's portfolio of African production assets outside Mali.

• Gold mine

  Kibali Gold Mine

  Kibali was a major gold mining asset in the Democratic Republic of the Congo associated with Randgold. It represented the company's expansion into Central African gold production and development.

• Gold development project

  Massawa project

  Massawa was a gold exploration and development project in Senegal included in Randgold's wider African project portfolio.

• 2018

  Share-for-share combination with Barrick GoldM&A

  Background

  Randgold and Barrick Gold announced a proposed combination intended to create a larger international gold mining group with complementary African and global assets.

  Action taken

  The companies agreed to a share-for-share transaction valued at approximately US$18.3 billion. Randgold shareholders were expected to hold about 33% of the combined company.

  Aftermath

  The transaction was completed in December 2018, after which Randgold Resources ceased to operate as an independent listed company.

  Announced transaction value. US$18.3 billion (2018 announcement)

  Source

• 2018

  Randgold announces share-for-share merger with Barrick Gold[1]Randgold Resourcesen.wikipedia.org

  M&A

  Randgold announced a proposed combination with Barrick Gold valued at approximately US$18.3 billion. Under the announced terms, Randgold shareholders were to receive about one-third of the combined company.

• 2018

  Randgold Resources ceases to exist as a separately listed company after Barrick combination[1]Randgold Resourcesen.wikipedia.org

  M&A

  The combination with Barrick Gold was completed in December 2018, ending Randgold Resources' independent corporate and stock-market identity.

1. 1Randgold Resourcesen.wikipedia.org