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Randgold says Gounkoto mine granted four-year 50% tax concession

Aug. 01, 2018 2:28 PM ETBarrick Gold Corporation (GOLD) Stock, ABX:CA StockGOLDBy: Carl Surran, SA News Editor
  • Randgold Resources (GOLD -1.6%) says Mali's government has granted a 50% corporate tax reduction for the next four years at its Gounkoto mine.
  • The company says the tax concession will see Gounkoto's mine life extended by more than five years and support development of a “super pit” which will be one of the largest opencast gold mines in Africa.
  • Randgold's Gounkoto and Loulo mines are located in Mali’s gold-rich south, far from the unrest caused by Islamist insurgents in the north, and produced a combined 20-plus metric tons of gold last year.

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