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African focussed gold company, Randgold Resources have seen their profits reach a record high despite the current econonic crisis.
Chief Executive, Mark Bristow, said that the year had been "extremely challenging" and "they had done well in every sphere of the business". He went on to say that “panic is an amazing mover of the gold price”.
Randgold have attributted their current success not only to the rise in gold prices but with their increased production through the expansion of their flagship Loulo mine in Mali. They plan to build on this success by bringing forward production, to 2014, of its Moto goldmines and Kibali Project in the Democratic Republic of the Congo, which they jointly own with AngloGold Ashanti.
So, with increased gold production, gold prices reaching a record high and rising and despite the current global econmic uncertainty, it would appear that the argument to buy gold remains strong. |