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Randgold Resources (RRS)

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Thursday 27 March, 2003

Randgold Resources

Choice facing gold industry

Randgold Resources Ld
27 March 2003

For further information call:  (CEO) Mark Bristow  +44 779 775 2288


Johannesburg, 27 March 2003 - The consolidation of the global gold mining
industry has masked its stagnation over the past five years and it now urgently
needs to make new discoveries, says Dr Mark Bristow, chief executive of Randgold

Bristow says the industry's combined exploration expenditure peaked in 1997 and
since then has dropped off sharply to less than a third of that level.  Over the
same period, the number of active gold mining companies has shrunk by some 15%.
The new gold supply has grown by a mere 1.5% year on year since 1991, before
making any deductions for hedging,

'There has in effect been a steady decline in production, which has been masked
by the frenzy of consolidation in the industry over the past few years.
However, while consolidation can preserve or unlock existing value, the only way
to create new value is through exploration, development and innovation.  Quite
simply, as an industry, we need to find more new viable gold mines,' says

The London and Nasdaq listed Randgold Resources is one of the few gold companies
that has continued to invest substantially in exploration - and as a result of
this strategy, discovered the Morila deposit in Mali and developed it into one
of the world's top 10 gold mines, which in 2002 topped the million-ounce-per
year production mark.  The company has also built up extensive groundholdings
and an inventory of quality gold prospects and projects in Africa.

'It is easy but unwise for producers to allow themselves to be seduced by the
whims and fashions of a market that is notoriously volatile.  Randgold
Resources' success in creating value and delivering returns, on the other hand,
is based on a coherent, consistently applied strategy of generating organic
growth opportunities through an aggressive exploration programme coupled with
shrewd risk evaluation,' Bristow said.

The western, central and eastern regions of Africa, where Randgold Resources has
a major footprint, remains one of the world's most attractive gold exploration
areas.  Other high-potential zones, according to Bristow, are the western
seaboard of South America, central Europe and, to the east, Indonesia and the
Pacific Rim.

'If you want to increase your chances of a discovery, you have to go to areas
that are prospective but well off the beaten track.  The difficulty of accessing
these areas, and the shortage of information about them, pose a real challenge
to explorers. It is these same barriers to entry, however, that also make such
areas potentially so rewarding to the knowledgeable and intrepid explorer,' he

Issued on behalf of Randgold Resources Limited by  du Plessis Associates.

dPA contact Kathy du Plessis on Tel: +27(11) 728 4701,

mobile: +27 (0)83 266 5847 or e-mail



Statements made in this release with respect to Randgold Resources' current
plans, estimates, strategies and beliefs and other statements that are not
historical facts are forward-looking statements about the future performance of
Randgold Resources. These statements are based on management's assumptions and
beliefs in light of the information currently available to it.  Randgold
Resources cautions you that a number of important risks and uncertainties could
cause actual results to differ materially from those discussed in the
forward-looking statements, and therefore you should not place undue reliance on
them. The potential risks and uncertainties include, among others, risks
associated with: fluctuations in the market price of gold, gold production at
Morila, estimates of reserves and mine life and liabilities arising from the
closure of Syama.  Randgold Resources assumes no obligation to update
information in this release.

                      This information is provided by RNS
            The company news service from the London Stock Exchange