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Randgold profits soar by 250pc
Randgold Resources’ profit soared by 259 per cent to $433.4m for 2011, its annual results showed.
The board has proposed a $0.40 annual dividend, up 100 per cent on 2010.
Production for the year rose by 58 per cent to 696,023 ounces, reflecting increased ouput from a string of operations in Mali.
Chief executive Mark Bristow said: “Randgold’s long-term strategy of building sustainably profitable gold mining businesses through discovery and development continues to pay off,” he said. “In 2011 we benefited from our investment in growth in previous years, just as the development work we are doing now will reward our stakeholders in years to come.”