Moto Gold Mines

Toronto Stock Exchange Kibali Gold Mine Mining
Moto Goldmines Limited
Public
Traded asTSX: MGL
IndustryGold Mines
Headquarters,
Key people
Reginald N. Gillard
Number of employees
160[1]
Websitewww.motogoldmines.com

Gold deposits at Moto were initially discovered in 1903 and mining began in 1905. A colonial state corporation called Kilo-Moto exploited the deposits from 1905 to 1919. The colonial state recruited laborers from rural Africa to work in the mines. In 1919, Kilo-Moto became organized as an autonomous colonial state corporation with a Board of Directors in Brussels appointed by the Minister of the colonies. This company operated as a private corporation starting in 1926 and survived the handover to independent Congolese rule in 1961, but was taken over by the Zairian state in 1967. The archives of the company up to 1967 are still stored in Brussels.[2][3]

Moto Goldmines Limited was a gold exploration and mining company with operations in the Kilo-Moto greenstone belt in Haut-Uele Province in the northeast of the Democratic Republic of the Congo. The company's stock was listed on the Toronto Stock Exchange and the London Stock Exchange’s Alternative Investment Market.

Moto Goldmines was acquired by Randgold Resources in 2009,[4] which subsequently merged with Barrick Gold in December 2018.[5] The joint venture developed the Kibali Gold Mine.[6]

References

  1. ^ "Company Profile for Moto Goldmines Ltd (CA;MGL)". Retrieved 2008-10-15.
  2. ^ Bakonzi, Agayo (1982). "Archives of the Gold Mines of Kilo-Moto". History in Africa. 9. JSTOR 3171617.
  3. ^ https://www.jstor.org/stable/3171617?seq=1
  4. ^ Barry Sergeant (26 October 2009). "Beyond Moto - African gold stocks rock". Mineweb. Archived from the original on 24 October 2009. Retrieved 11 November 2011.
  5. ^ "Auto Trader Up To FTSE 100, Sabre To 250 As Randgold Bows Out". 24 December 2018. Retrieved 31 December 2018.
  6. ^ "Kibali Gold Mine, Orientale", Mining Technology, retrieved 2020-08-30