Thursday, 15th July 2004 (3314 views)

Randgold Resources has announced it is returning to Burkina Faso to begin exploring for gold again after four years away.

The owner of 40 per cent of Mali's biggest gold mine explained that drilling would soon start in the Banfora greenstone belt, where the type of volcanic rock has been found to contain gold deposits in locations across the world.

Chief executive Mark Bristow told Business Report: "We wanted to extend over Africa before some of the big players. Burkina [Faso] was the first country where we were active. The mineralisation is attractive there."

Randgold originally worked in Burkina Faso from 1995 to 2000, until gold prices dropped.

The announcement follows Randgold revealing it was also exploring for gold in Tanzania with Barrick Gold and testing is also to be conducted in Kiaka.

 

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