'African risk' - political or managerial?
07.02.2012 | Marketwire
JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 02/07/12 --
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD'AFRICAN RISK' - POLITICAL OR MANAGERIAL?
Cape Town, 7 February 2012 - The primary risk in building a business
in Africa lies not in the continent's socio-political environment but
in the need to structure a business model and a management team capable
of dealing effectively with the dynamics of an emerging market,
Randgold Resources chief executive Mark Bristow said at the African
Mining Indaba today.'The first step in doing that is to recognise that the
big global
corporation approach with its sophisticated systems and risk analysis
is simply not appropriate to this environment,' he said. 'For a
business to operate successfully in Africa, it should be focused on the
pursuit of real value; performance-based and sustainable growth; and
the fostering of productive people and mutually beneficial
relationships.'
Bristow said Randgold was founded 16 years ago on the platform of an
African-focused growth strategy. Driven by this, it had since risen to
the top tier of the gold mining industry and ranked in the FTSE 100 and
Nasdaq 100 indices.'From Day One, it's been our creed that you only create
real value in
the gold mining industry when you discover and develop your own
world-class deposits, instead of paying premium upon premium to get
more ounces through mergers and acquisition transactions. It's all
about discovery. Everything else - mining, processing, production -
are merely links in the chain that transforms gold in the ground to
money in the bank to benefit all stakeholders,' he said.'What is the
ultimate aim of any business? To be big? Or, to create
value? The answer should be obvious, yet if you look at the structures
and returns of many of the major gold companies, it's all too clear
that they would be more profitable if they were smaller and more
focused.'
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RANDGOLD RESOURCES ENQUIRIES:
Chief Executive Financial Director Investor & Media Relations
Mark Bristow Graham Shuttleworth Kathy du Plessis
+44 788 071 1386 +44 1534 735 333 +44 20 7557 7738
+44 779 775 2288 +44 779 771 1338 randgoldresources@dpapr.com
Website:www.randgoldresources.com
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The company news service from the London Stock Exchange
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