Randgold Resources Remains Loyal to Sustainable Community Efforts in Mali

Randgold Resources Remains Loyal to Sustainable Community Efforts in Mali

Randgold Resources (LSE) continues to provide life-changing benefits to local communities where it operates.

At the company’s Loulo-Gounkoto gold mining complex, the largest in Mali and one of the largest in Africa, Randgold Resources remains committed to sharing the value it creates with stakeholders, including the local population.

“As the two key stakeholders in this complex, the government of Mali and the management of Loulo-Gounkoto have a joint responsibility to ensure it continues to generate substantial benefits for communities and the country, not only for today but for future generations,” said Randgold Resources CEO Mark Bristow.

“One of the challenges we still face together is illegal mining, which impacts Loulo-Gounkoto’s ability to deliver these benefits and threatens Mali’s vital national assets, harming the environment and exploiting parts of the community.”

Randgold has implemented several programs to enhance skills growth in Mali, including scholarship programs, training, and career development. The company has established core initiatives such as providing clean water, supporting education, healthcare, and food security through community-led commissions, enabling community-run investment projects.

Another initiative focuses on boosting Mali’s economy. Randgold finances small businesses, particularly those initiated by women in the community. The company has also introduced community development committees to stimulate new projects in agriculture and construction.

According to Bristow, the mining industry could grow substantially with sustained productive partnerships with the Mali government and resolution of current development obstacles.

“A stable fiscal regime, supportive infrastructure, and investor-friendly mining code are crucial for us to continue building on our achievements in Mali,” Bristow emphasized.

“Power supply is another critical issue. Electricity currently represents about 30% of operating costs for any Malian mine. Accessing the national grid at a reasonable cost would not only extend the life of existing mines, increasing the industry’s contribution to the Malian economy, but would also facilitate the development of new mining projects currently unfeasible due to high operational costs.”