Randgold Resources (NASDAQ: GOLD; LSE: RRS) and Newcrest Mining (ASX: NCM), two of the world’s leading gold mining companies, have agreed to negotiate a formal joint venture to explore areas of interest in southeastern Côte d’Ivoire.
Both companies already have operations in the West African country. Randgold runs its Tongon mine in northern Côte d’Ivoire, about 55 km south of the nation’s border with Mali, and Newcrest’s Bonikro mine, in southern Côte d’Ivoire, is about 250 km northwest of the nation’s commercial capital of Abidjan.
If the joint venture goes ahead, Randgold will manage the exploration program and operate any mines that may be developed.
Each company brings a deep pool of experience to the joint venture.
Randgold has built five mines, all but one of which was developed on deposits discovered by its own geologists, in three African countries (Loulo, Gounkoto and Morila in Mali, Tongon in Côte d’Ivoire and Kibali in the Democratic Republic of the Congo), while Newcrest, the largest gold producer listed on the Australian Stock Exchange and one of the world’s largest gold mining companies, has mines in Australia (Cadia Valley, Telfer), Papua New Guinea (Lihir), Indonesia (Gosowong) and Côte d’Ivoire (Bonikro).
Read the entire story at The Northern Miner.