Rangold Resources: Kibali Passing Further Milestones En Route to Production Target

JERSEY, CHANNEL ISLANDS--(Marketwired - July 21, 2014) - Rangold Resources (LSE: RRS) (NASDAQ: GOLD) -The Kibali gold mine in the Democratic Republic of Congo, officially opened by the country's Minister of Mines two months ago, is continuing to make steady progress towards the production target set for its first full year of operation, Randgold Resources chief executive Mark Bristow said here today. Randgold is the developer and operator of the project, which it owns in partnership with AngloGold Ashanti and the Congolese parastatal SOKIMO.

Updating local media, Bristow said Kibali was still a work in progress and was dealing with the challenges to be expected in ramping up a mine of its size and complexity. Nevertheless it remained on track to deliver the 550 000 ounces of gold management has forecast for 2014.

"The current focus is on ensuring that the metallurgical plant will achieve its designed throughput and recovery rates, and with the secondary sulphide circuit now being commissioned and optimised, we're almost there. We have also completed the Nzoro hydropower facility, with the first two turbines running and the remaining two expected in the third quarter. The focus is now on synchronising it with the diesel power plant" he said.

"While open pit mining is proceeding as planned, development of the underground mine is progressing well, and the first ore has been accessed slightly ahead of schedule. It's worth noting that despite the scale and pace of the on-site activities, Kibali is maintaining its exemplary safety record, with only one lost-time injury in the first six months of the year."

To view the full announcement, please click on the following link.

http://www.rns-pdf.londonstockexchange.com/rns/9079M_1-2014-7-21.pdf