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MODERN MINING
September 2016
EXPLORATION AND
GEOSCIENCE
feature
H
olliday says consistent fund-
ing is one of the key principles
guiding Randgold’s exploration
effort. “Generally speaking, dis
coveries don’t just come out of
the blue,” he states. “They depend on sus-
tained work over years. Most companies will
cut budgets during downturns and this can be
very disruptive to exploration programmes. By
contrast, we maintain – and even increase – the
Exploration drives the
Randgold
success story
A Randgold exploration
team in the field in the
north-eastern DRC in
August this year.
Based on its track record over the past couple of decades, Randgold Resources
is arguably the most successful gold explorer in Africa, with world-class
deposits such as Morila (7,5 Moz), Yalea (7,2 Moz) and Gounkoto (5,9 Moz), all
in Mali, and Tongon (4,9 Moz) in Cote d’Ivôire to its credit. As Group General
Manager Exploration Joel Holliday (left) recently explained to
Modern Mining’s
Arthur Tassell, the
company’s high ‘strike rate’ is no accident but is based on a generative research programme which is
unique in Africa, as well as hard, unrelenting work in the field which continues year in and year out
through all the ups and downs of the commodities cycle.
money allocated to exploration when times get
tough. Fortunately, there is a keen apprecia-
tion within Randgold, many of whose senior
executives – including CEO Mark Bristow –
have backgrounds in geology, that continuous
well-resourced exploration is essential if the
company is to make new discoveries and also
replace depleted ounces.”
Holliday, a geology graduate of the Uni
versity of Portsmouth in the UK, has spent