SOURCE: Randgold Resources

April 20, 2010 12:54 ET

Randgold Resources Reports Rapid Progress on Kibali

KINSHASA, DEMOCRATIC REPUBLIC OF THE CONGO--(Marketwire - April 20, 2010) -  

RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands  
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD (NASDAQ: GOLD)

Randgold Resources, the operator of the Kibali Gold Project (a Randgold Resources, AngloGold Ashanti and OKIMO joint venture) has advised the government of the Democratic Republic of the Congo that the project is making rapid progress on the key issues related to the development of the Kibali gold project. The government has a 10% stake, through the parastatal OKIMO, in the project, which is the largest undeveloped gold deposit in Africa.

In a meeting today with DRC minister of mines Martin Kabwelulu, and minister of portfolio Jeanine Mabunda, Randgold CEO and chairman of Kibali, Mark Bristow, reported that the company had

  • established a constructive working relationship with the key stakeholders aimed at ensuring a stable operating environment in the region;
  • started pre-construction work on the new road between Aru and Doko, which is central to the logistics of the project's development;
  • formulated a draft people resettlement programme and initiated a public participation process;
  • advanced the establishment of an adequate electrical power supply by completing conceptual engineering studies on upgrading OKIMO's existing facilities and securing a licence to generate hydro power from the Nzoro River; and
  • compiled a new geological model and begun optimising the existing feasibility study with a view to starting production at the earliest opportunity.

Click on, or paste the following link into your web browser, to view the full announcement.

http://www.rns-pdf.londonstockexchange.com/rns/5045K_1-2010-4-20.pdf

Contact Information

  • RANDGOLD ENQUIRIES:
    Mark Bristow
    Chief executive & Kibali chairman
    +223 6675 0122/+44 788 071 1386

    Willem Jacobs
    GM operations Central & E Africa
    +27 72 614 4053/+27 82 905 6797

    Louis Watum
    GM Kibali Goldmines
    +243 994 035 464/+256 782 239 767

    Kathy du Plessis
    Investor & media relations
    +44 20 7557 7738 Email Contact

    Website: www.randgoldresources.com