Gold miner Randgold Resources has assured that operations at its mines in Mali have continued to operate following a military coup in the country which began last week.
Randgold's shares fell by as much as 15% on Thursday after it was reported that rebel troops had taken over Malian state radio and TV and announced that they have seized control of the country.
The company's Chief Executive, Mark Bristow, who has been at the its Loulo complex over the last week, said that all of its mines were all operating at present and that Loulo's fuel supplies had been replenished over the weekend.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Randgold and other mining companies in Mali had a meeting with representatives of the Comit National de Redressement de la Dmocratie et la Restauration de l'tat (CNRD-RE) on Monday at which the CNRD-RE assured them that the situation was under control and that the State was still functioning," the firm announced this afternoon.
Despite trimming losses initially after the announcement at 13:40, shares fell further into the red by 15:47, down 2.13% at 5,505p.
Randgold said it would continue to monitor the political situation in the country and engage with the Malian authorities.
BC
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
