Mining companies in the Democratic Republic of Congo including Glencore Xstrata Plc and Randgold Resources Ltd. face “serious risks” as the country’s 2016 elections approach, Liberum Capital Ltd. said.
Randgold Resources Ltd., a producer of the metal in Africa, rose the most in more than a month in London trading after record production at its Mali mine propelled earnings beyond analyst expectations.
Anglo American Plc Chief Executive Officer Mark Cutifani will need to splash out on fine wine in October when he loses a bet that the Kibali mine won’t produce gold this year, Randgold Resources Ltd. CEO Mark Bristow said.
The 10 biggest gold companies led by Barrick Gold Corp. spent more than $100 billion in the past 20 years buying new mines and projects around the globe. Now they’re feeling pressure to throw the strategy into reverse.
Randgold Resources Ltd., a producer of the precious metal in West Africa, dropped to the lowest level in two months in London trading after the president of Ivory Coast dissolved the country’s government.