Randgold Resources made $173 million of payments to African governments in 2016
Monday, 03 July 2017 13:19
Randgold Resources announced last Friday that it paid in 2016 $173 million to the governments of African countries where it operates, Miningweekly reported.
At the year ended on December 31, 2016, the company paid $161 million to the government of Mali where is located its Morila gold mine as well as its Loulo and Gounkoto projects.
In Cote d’Ivoire where it operates the Tongon mine, it paid $11.7 million in royalties, taxes, dividends, licence fees and infrastructure improvements. As for the government of DR Congo where Randgold has its Kibali mine, it received from the firm $157,944.
In its operational and financial report for 2016, Randgold said it has produced 1.25 million ounces of gold (up 3% compared the previous year) and made $294.2 million of profits (+38%).
The dual-listed (Nasdaq and London) company is the world’s 30th largest market capitalization in the mining industry, according PwC’s latest report.
Louis-Nino Kansoun
Live News
-
AGRA’s Esther Ibrahim: A Strong, Functional Seed Sector Is Critical for Nigeria
19:23
-
Cameroon risks CFA165bn in tax losses from illegal gold exports
16:29
-
Togo Advances Creation Of National Land Agency
16:25
-
Togo Nears Access To China’s Soybean Market
16:21
-
Cameroon nears deal for long-delayed Ngaoundéré solar power plant
16:18
-
Guinea suspends port demurrage fees for holidays, cost pressures persist
16:10
-
Cocoa price slump puts Côte d’Ivoire sector under strain
16:08
-
Blockchain developers emerge as key talent in Africa’s expanding Web3 economy
15:58
-
Lomé International Fair 2025 Sees Record Turnout, Stronger B2B Activity
13:35
-
Togo: World Bank Approve $150M to Support Private Investment, Job Creation
13:32
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
GSMA outlines reforms needed to meet targets of the New Technological Deal 2034 High mobile taxes...
M-Pesa accuses Ethio Telecom of blocking access to new Lehulum app App aims to offer unive...
This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...
Investment bank BCID-AES established in Bamako Bank aims to fund infrastructure, agricultur...
In Nigeria, as in much of Africa, weaknesses in the seed sector remain a major constraint on the productivity of staple crops such as rice and maize. As...
Guinea suspended demurrage fees at the Port of Conakry from December 15 to January 31. The move aims to limit the impact of port costs on consumer...
Global cocoa prices have fallen to just over $6,000 a ton, about half last year’s level. Exporters are struggling to honor contracts, leading to...
Web3 adoption is accelerating demand for blockchain developers across Africa. The role combines programming, cryptography, and decentralized systems...
(FEZ–MEKNES REGION) - As AFCON 2025 approaches: the Fez-Meknes region is emerging as one of Morocco’s most strategic tourism hubs, offering strong...
In line with a broad movement acknowledging colonial-era spoliations and seeking to rebalance cultural relations between Africa and Europe, countries such...