Gold price fall fuels Randgold investment
Randgold plans to invest in mining projects.
Randgold has stated it plans to make an investment in mining projects if the price of gold continues to drop in the coming weeks and months.
The company's chief executive explained that the firm sees any further fall in the price of gold as a chance to expand its exploration activities cheaply.
Speaking to Reuters, Mark Bristow predicted exploration projects run by smaller firms will be hit hard if the value of the precious metal carries on dropping.
"The industry hasn't been efficient in investing in exploration. That's what Randgold's real focus is now. This is the time you can pick up the good positions," he said.
Mr Bristow added the first gold from Randgold's Kibali project in Democratic Republic of Congo is expected to flow by the end of the year.
Nik Stanojevic, of investment manager Brewin Dolphin, recently told the Daily Telegraph that it is impossible to predict gold price trends as investor confidence is the only factor to afford the value of the commodity.
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