Creating economic value
Mining companies have a generally poor history of linking the extraction of a country’s mineral resources to national economic development. Randgold seeks to set itself apart from this past and is determined to help our host countries use their resources to spark economic growth.
We make substantial contributions to the treasuries of our countries through joint ownership structures for all our mines (the states of Mali, Côte d’Ivoire and DRC all have at least a 10% stake in the respective mine), and thus pay dividends and royalties as well as all the relevant taxes. For example, in the 20 years that Randgold has operated in Mali we have contributed over $4.7 billion into the economy of the country in the form of taxes, royalties, wages, payments to local suppliers and community investments.
PAVING THE WAY FOR ECONOMIC DEVELOPMENT
By constructing and maintaining new roads or improving existing roads, we ensure critical supplies are delivered to our sites on time and in a cost efficient manner while, for the local community, better roads improve freedom of movement and open up new opportunities for trade and development. Therefore, we consider investments in roads one of our most important contributions to the local and national economic development.
DEVELOPING NEW SUPPLY LINES
Our Kibali mine is located in a remote northeast corner of the DRC and is more than 2 400km away from the capital,
Kinshasa. The best way for us to supply the mine is to roadfreight goods via Aru at the border with Uganda. Aru is just 180km away from Kibali but the journey used to take several days. Thanks to our upgrade of the Aru-Doko road, the
journey has been reduced to just a few hours. The Doko-Aru road is now heavily used by both the mine and the community, sparking new markets and sustained economic activity along the route. We have seen similar transformations in Mali with the Loulo-Keneiba road and in Côte d’Ivoire from the Tongon-Nielle road.
BETTER BORDER CROSSINGS
Most of the supplies for our Loulo-Gounkoto complex in
Mali are transported from Senegal and until recently had
to pass through a poorly positioned border crossing. We
worked in partnership with the Malian and Senegalese
governments to fund a new border crossing at Koudan
about 30km from our operations and funded the construction
of a customs house. This has not only led to improved transport
times for our supplies, it has also given an economic boost to
Koudan which is now a thriving hub for trade and business
in the local area.
IMPROVING ACCESS TO WORLD HERITAGE IN THE DRC
During 2016, as part of our partnership with the Garamba
National Park in the DRC, we invested in the improvement
of supply routes in and around the park. It is hoped that not
only will these routes help to improve the security situation
and reduce poaching in Garamba, but also improve access
for visitors and thereby spark further economic development
in the region.
In total, we maintain 375km of national roads in our host
countries, and have invested more than $73 million on
roads over the past five years.
|Country||National roads maintained|