The African gold mining company, Randgold Resources has told investors to expect a bonanza in production from its Kibali mine in the Democratic Republic of Congo.
Speaking on Wednesday in Kinshasa, Randgold’s chief executive Mark Bristow explained the mine is likely to exceed its 2015 production target of 600,000 ounces of the precious metal.
Mr. Bristow sounded positive on future investment in gold mining in the DR Congo.
He said, “We believe the north-eastern DRC holds a rich potential for such discoveries and we trust the country’s government will partner us in our drive to develop a major gold mining frontier there.”
Randgold’s shareholders and its CEO will be pleased to hear that the price of the precious metal remains buoyant, helped by recent stock market turmoil.
This afternoon in London the price of gold was fixed at £780 ($1086.25) an ounce.
DR Congo mines ‘use child labour’
On another note, human rights organisation Amnesty has accused Apple, Samsung and Sony, among others, of failing to do basic checks to ensure minerals used in their products are not mined by children.
In a report into cobalt mining in the Democratic Republic of the Congo, it found children as young as seven working in dangerous conditions. Cobalt is a vital component of lithium-ion batteries.
UNICEF estimates that there are approximately 40,000 children working in mines across southern DR Congo. The firms said that they had a zero tolerance policy towards child labour.
Author: Gesture Chidhanguro