Making a difference
It is 20 years since Randgold was first incorporated as an Africa focused gold mining and exploration business with a vision to create long term value for all stakeholders.
In those two decades we have created over 20 000 jobs either directly or in partnership with sub-contractors, contributed more than $2.2 billion to host country governments in taxes, royalties and dividends, constructed or upgraded over 60 schools in host communities and supported a wide variety of local businesses from mechanics to mobile kitchens, construction to cattle farming, hospitals to hotels.
We can see our impact in issues like malaria in Mali. When we took on our Morila mine in 2000, malaria was rife with a local incidence rate of 192%. Now, as our Morila mine approaches closure, it is down to almost 20% and falling.
EXPLORING SUSTAINABILITY TO CREATE VALUE FOR ALL
The same spirit of exploration which has helped us find five world-class gold deposits on geological anomalies, also drives us to explore the most sustainable solutions to the challenges our business faces. This year, for example, we have introduced industryleading safety training, partnered with NGOs to dramatically improve community education and health outcomes, and invested in major hydropower facilities in the DRC. Our investments in agribusinesses, to leave a thriving economic legacy for our host communities, are also progressing at pace. The year has not been without its challenges. We’ve seen disappointing increases in areas such as our lost time injury frequency rate, water and energy use. And most tragically we suffered a fatality, a reminder of the need to learn and strive for excellence every day.
A CORE FOUNDATION
Despite the tough global commodity market we will continue to invest in sustainability. It is not something we pay lip service to, but a core foundation of our business and vital to success in emerging Africa. The reality of building strong relations with our host countries and communities is that there is no room for complacency. We need to work every day to build mutual trust and understanding; and the same is true of our efforts in areas such as occupational health and safety, environmental management, infrastructure and industrial relations.
Looking ahead, we will continue to explore how best our business can continue to benefit all stakeholders in a sustainable way over the long term. In the next 20 years, that will ultimately be how the success of our company should be judged.