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Shandong Gold Group Welcomes and Congratulates the Merger Between Barrick Gold Corporation and Randgold Resources

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2018/09/24

On 24 September 2018, Barrick Gold Corporation, the largest gold producer in the world, announced its merger with Randgold Resources. As Barrick’s strategic partner, Shandong Gold Group expresses its warm welcome to and congratulations on the merger and holds high expectations that the combination of these two leading companies will enable us to deepen our existing partnership, accelerate Shandong Gold’s international development and carry out mutually beneficial cooperation with win-win outcomes in more fields.

In recent years, Shandong Gold Group has committed to the goal of becoming one of the top ten gold producing companies globally and the largest gold producer in China, while and building itself into an internationalized and modernized world-class mining group. It overseas business has covered countries such as Argentina, Australia and Canada, demonstrating increasing growth potential and global influence. On 6 April 2017, Shandong Gold Group and Barrick Gold Corporation signed the Strategic Cooperation Agreement on jointly developing Veladero Gold Mine, the largest gold mine in operation in Argentina and the second largest in South America, and seeking to build platforms for cooperation in the EL Indio Gold Belt located along the borders of Argentina and Chile and in other prospective projects. Based on their common cultures and development visions, as well as favorable results in their joint development and operation of Veladero, the two companies signed the Strategic Cooperation Promotion Agreement on 9 July 2018, elevating their strategic partnership to a new level.

The merger between Barrick Gold Corporation and Randgold Resources will create a new leading company in the gold industry with a commitment to creating value. It reflects the development trend in the global gold industry and will bring its partner, Shandong Gold Group, new development opportunities. Barrick Gold Corporation has set a goal of building itself into a leading 21st century company led by a management team rich in experience. Randgold Resources is renowned for its geological expertise and has successfully operated in challenging environments. The merger will not only help Shandong Gold Group create maximum value at Veladero and in the EL Indio Belt, but also bring broader development opportunities and prospects for in-depth cooperation in Africa and other large mining regions around the world.

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