Gold majors Randgold Resources and Newcrest have agreed to establish a joint venture that will explore for gold in the south-east of Côte d’Ivoire.Gold majors Randgold Resources and Newcrest have signed a heads of agreement to establish a joint venture for the exploration, development and mining of mineral resources in an area of interest in the south-east of Côte d’Ivoire.

The area covers the extension of some of the more prolific Ghanaian gold belts and associated structures.

Randgold Resources will manage the exploration programme and any mines that it produces, while a technical committee comprised of senior geologists from both companies will work closely with the Randgold exploration team and a joint venture board will oversee the exploration programme and any consequent development projects.

According to Randgold Resources this brings together two of the world’s leading gold mine explorers in a concerted effort to unlock the potential of an area that has not yet been explored in depth.

“The bigger the footprint, the greater the opportunity, and both companies believe in Côte d’Ivoire and the potential for the discovery of world-class gold deposits,” said Randgold chief executive Mark Bristow.