Shareholders at Randgold Resources vote to back merger with Barrick Gold

James Booth
Shareholders backed Randgold's merger with Barrick today (Source: Getty)

Shareholders at Randgold Resources overwhelmingly backed the miners proposed $6bn (£4.6bn) merger with Barrick Gold today.

At an extraordinary general meeting in Jersey today 95 per cent of voters backed the tie-up which has been agreed in September, clearing the required hurdle of 75 per cent.

On Tuesday Randgold reported a 25 per cent profit increase with profit in the third quarter of $73.2m, an increase on the $58m profit made in the second quarter, and up 20 per cent from the same period in 2017.

The company said increased output offset the impact of a strike at its Tongon gold mine in Côte d'Ivoire as production – 308,638 ounces – remained in line with the previous quarter.

Randgold shareholders will vote tomorrow on the $6bn acquisition by Canada's Barrick Gold to create New Barrick.

The majority of shareholders at Canada’s Barrick approved the deal in a vote earlier this week.