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Randgold Resources' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: GOLD

This has been a time in which Randgold has had to contend with many challenges, operational, developmental, and at least, political. We are in reference with which the team has dealt firstly with the fallout from the CÔTE D’IVOIRE disputed elections and then with the MALI coup and its aftermath is a tribute to the expertise in managing risk in Africa.

And also to Randgold’s partnership philosophy, which again proved its worth. If there was one thing that the conflicting parties in both situations could agree on, it was that Randgold’s operation where key national assets we truly protected and that Randgold was a valuable partner who could be trusted to act in the best interests of the country and in an open and even handed manner.

This colial relationship was demonstrated publicly again on Monday during the Gounkoto opening. Martin remains in close touch with MALI’s interim government as well as the West African Union Ecovas. And while the country is still by no means out of the woods yet, it is definitely on the right track. We believe if people have the will and the ability to restore full stability and reinstate their democratic institutions. Continuing to foster good relations, Martin is in recent weeks also address a Democratic Republic of Congo government forum on the country’s mining code and it has also productive discussions with the newly elected and impressive-looking government in Senegal.

The latter was on the itinerary of his latest motorbike marathon for charity, which took him and his two sons through 17 countries, from Beschoff, in England, to Abidjian in CÔTE D’IVOIRE, and raised almost $600,000 for charity. Randgold’s exploration executive team joined the ride in Senegal and together, they visited all our West African operations, projects and metal targets. You can’t manage mines in Africa from the comfort of a distant head office and the result before you again attest to the effectiveness of Randgold’s policy of engagement and commitment.

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