SOURCE: Randgold Resources Ld

July 25, 2012 14:00 ET

Mining starts at Kibali

JERSEY, CHANNEL ISLANDS--(Marketwire - Jul 25, 2012) -


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

("Randgold Resources" or "Randgold")



MINING STARTS AT KIBALI AS PARTNERSHIP CONTINUES TO DELIVER PROGRESS


Kinshasa, Democratic Republic of Congo, 25 July 2012 - Open pit mining
has started at the giant Kibali gold project in the DRC, which remains
on track for first production towards the end of next year.


At the same time, decline development for the underground mine has
commenced with a boxcut to open up the tunnel portals, while terracing
for the metallurgical plant, earthworks for the first of four
hydropower stations and infrastructure construction are all progressing
well. Thirteen excavators and 53 trucks are working round the clock
and up to the end of June, more than 500000m3 of soil had been
excavated and 100 000m3 of fill exceeded. Manufacturing of the mills
and hydro turbines is 85% complete and more than 1000 tonnes of
structural steel and platework is en route to the site. The project
currently employs some 3500 people, of whom 700 are housed on site.


The resettlement programme, clearing the site for development, is also
on schedule, with 774 families already relocated to the new model
village of Kokiza. Kokiza will ultimately accommodate 3800 families,
and construction of all their homes, as well as a civic infrastructure
which will include schools, clinics, shops and churches, is progressing
rapidly.


Mark Bristow, chief executive of project developer and 45% shareholder
Randgold Resources, said today that all the challenges presented by a
multi-faceted world-class project in a remote part of Africa had thus
far been successfully overcome, thanks in large measure to the
productive co-operation between Kibali and the DRC government, which
owns 10% of Kibali."The DRC had for years tried to interest the major mining companies in
this project but all were daunted by its scale and location. When we
came on board in 2009 our first step was to engage the State in a
partnership, and the extent to which both parties have delivered on
their commitment is evident in Kibali's brisk rate of development,"
Bristow said.

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