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.
Moto Goldmines Limited was a
gold
Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a brightness, bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal ...
exploration and
mining
Mining is the Resource extraction, extraction of valuable geological materials and minerals from the surface of the Earth. Mining is required to obtain most materials that cannot be grown through agriculture, agricultural processes, or feasib ...
company with operations in the
Kilo-Moto
Kilo-Moto is a region in the far northeast corner of the Democratic Republic of the Congo (DRC) where gold was discovered in the Ituri River by government prospectors in 1903. Moto is in the Haut-Uélé Province and Kilo in the Ituri Province.
Loc ...
greenstone belt in
Haut-Uele Province in the northeast of the Democratic Republic of the Congo. The company's
stock
Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...
was listed on the
Toronto Stock Exchange
The Toronto Stock Exchange (TSX; ) is a stock exchange located in Toronto, Ontario, Canada. It is the List of stock exchanges, 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in th ...
and the
London Stock Exchange
The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...
’s
Alternative Investment Market
AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market, Unlisted Securities Market (USM) that had been in opera ...
.
Moto Goldmines was acquired by
Randgold Resources
Randgold Resources was a gold mining business operating mainly in Mali. Headquartered in Jersey, Channel Islands, it was listed on the London and the NASDAQ stock exchanges until it merged with Barrick Gold in December 2018.
History
The compan ...
in 2009,
which subsequently merged with
Barrick Gold
Barrick Mining Corporation is a mining company that produces gold and copper. It has mining operations and projects in Argentina, Canada, Chile, Côte d'Ivoire, Democratic Republic of the Congo, Dominican Republic, Ecuador, Egypt, Mali, Pakista ...
in December 2018.
The joint venture developed the
Kibali Gold Mine.
References
External links
*
The Gold Mines of Kilo and Moto
Gold mining companies of the Democratic Republic of the Congo
Ituri
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