Randgold rocked as Mali coup threatens production

SHARES in gold miner Randgold plummeted yesterday after fears over production in Mali where renegade soldiers claimed to have grabbed power in a coup.

Two-thirds of the group’s production is in the west African country, with Randgold working closely with the government. Chief executive Mark Bristow said “Malians respect laws and I don’t believe this will come with a high-handed change in political direction. We don’t expect any subsequent governments to disregard proper and due process.”

Bristow is at the company’s Loulo complex in the west of Mali to monitor the ongoing situation.

Randgold’s shares closed 12.6 per cent lower yesterday at 5,765p. Shares in Aim-listed Cluff Gold, which also has operations in western Mali, fell four per cent yesterday.