Randgold invests in West African golfers

Randgold Resources announced a new investment on Monday, into the future golfers of West Africa.

The FTSE 100 mining firm has launched a gold academy for children at a golf day in the Korhogo region of Côte d'Ivoire as a joint initiative between itself and the Ivorian sport promotion company Team STL.

It said the aim was to provide underprivileged children with the opportunity to acquire a first-rate academic education, combined with their development as golfers.

Bursaries will initially be offered to 100 selected pupils from around the country.

Randgold chief executive Mark Bristow said the sport academy initiative would complement the company’s social responsibility portfolio of education, health, infrastructure and economic development projects.

"We are committed to discovering and nurturing talent in our host countries, and by giving youngsters the opportunity to develop their athletic as well as their academic potential, the academy will add an extra dimension to this drive," he said.

The company will contribute $50,000 per year for three years to the realisation of the project.