SOURCE: Randgold Resources

April 19, 2016 12:10 ET

Kibali Shines in Record Year for Randgold Resources

JERSEY, CHANNEL ISLANDS--(Marketwired - Apr 19, 2016) -  Randgold Resources (NASDAQ: GOLD) (LSE: RRS)

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

Kinshasa, Tuesday 19 April 2016 - The Kibali gold mine in the Democratic Republic of Congo was the star performer in Randgold's portfolio of operations in 2015, exceeding its target by 7% to contribute 642 720 ounces to the group's record production for the year.

Speaking at a local media briefing here, Randgold chief executive Mark Bristow noted that the two-year-old operation's remarkable success was a tribute to an effective cooperative effort which had united the developers, the authorities, the community, the contractors and suppliers in a strong commitment and a common purpose.

"It's been a significant achievement for a country which is rich in mineral resources but has not always managed to make the most of this endowment. Kibali is going to make a major impact on the Congolese economy -- it has already spent more than $1 billion with local service and goods providers -- and I believe it will also be the flagship for the development of a major gold mining industry in this country," he said.

Bristow cautioned, however, that Kibali was still a work in progress and faced many challenges as it worked towards its completion in 2018, when the underground mine was expected to be fully operational.

"The next two years will be particularly tough, as Kibali continues to ramp up its underground production within the constraints of a lower grade and the consequent need for a higher throughput, and we are therefore forecasting an output of 610 000 ounces for 2016 and 620 000 ounces for 2017," he said.

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

http://www.rns-pdf.londonstockexchange.com/rns/6744V_1-2016-4-19.pdf

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