SOURCE: Randgold Resources Ld

December 03, 2012 10:50 ET

Mills arrive at Kibali on schedule

JERSEY, CHANNEL ISLANDS--(Marketwire - Dec 3, 2012) -


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


ANOTHER MAJOR MILESTONE FOR KIBALI AS MILLS ARRIVE AT SITE ON SCHEDULE


London, United Kingdom, 3 December 2012 - Development of the giant
Kibali gold project in the Democratic Republic of Congo has achieved
another significant advance with the arrival on site of the two giant
ball mills which will form the heart of its metallurgical plant.
Kibali will be one of the largest gold mines in Africa when it goes
into production at the end of next year.

The two European-built 7 megawatt mills, each weighing 170 tonnes, were
transported in six sections initially from Antwerp and then by road
from the port of Mombasa in Kenya through Uganda to Doko in the
northeast of the DRC, a trip of 1800 kilometres which took some six
weeks. The mills, which are scheduled to be set on their foundations
at the plant early next year, are capable of a combined annual
throughput of 7.2 million tonnes of ore.

Kibali is being developed by project co-owner Randgold Resources, which
will also operate the mine. Randgold chief executive Mark Bristow said
today that with the on-schedule arrival of the mills, all the major
equipment for the mine was either on site or en route. Speaking at a
Randgold investor day in London, Bristow said the successful completion
of this complex exercise in logistics was in line with the rapid
progress the project team was making with all aspects of Kibali's
development. It was also a tribute to the regional experience and
expertise of logistics company Freight Forwarders Kenya and Randgold's
philosophy of partnership with its suppliers.

Open pit mining is already underway and work has started on the
development of the twin declines. The sinking of the vertical shaft
for the underground mine is expected to start in the first quarter of
next year. In addition, the whole mine footprint has been cleared for
development with the continuing relocation programme of villagers from
the mine area to the new model village of Kokiza, where houses are
being built at the rate of in excess of 50 per week.


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