Thursday, 29th April 2004 (3328 views)

Randgold Resources has joined forces with the Adansi Asaasi Mining Company to work at a site of interest in the Ashanti region of Ghana.

The African gold mining and exploration business is expanding its work in Africa and will explore and develop the area which is situated on the eastern edge of the Obuasi Mine.

Chief executive Dr Mark Bristow explained: "The AAMCOL joint venture is one of the new opportunities we have recently been assessing in Ghana and elsewhere.

"Our decision to proceed with it is in line with our commitment to value creation through steady, systematic organic growth, solidly based on our successful formula of exploration, discovery and development."

From the work, Randgold will receive interest of 63 per cent and the first phase will involve a detailed generative programme and follow up field projects.

Already the firm has the Louli mine, Morila joint-venture mine and exploration projects in Senegal and Tanzania.

 

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