RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
PARTNERSHIP IN PROGRESS KEEPS KIBALI ON FAST TRACK
All key pre-production targets set for 2010 have been met by the Kibali
development team and the giant gold project is on track for the
start-up of construction by the middle of the year, six months earlier
than originally scheduled.
Mark Bristow, chief executive of project manager and joint owner
Randgold Resources, said here today that the active participation and
support of a wide range of interest groups, including the local
community, the regional and national governments and the Catholic
Church, were a key factor in the continuing steady progress of theproject.
This cooperation has among other things been instrumental in the
successful finalisation of the public participation process regarding
the Relocation Action Programme (RAP), a sensitive and complex exercise
that involves the relocation of some 3800 families. The
implementation of the RAP is already under way, with the acquisition
from the State of the site for a new town, to be known as Kokiza, as
well as farmland. Model homes have been built and the process of house
selection by each of the families involved has started. Kibali and the
Catholic Church have signed a protocol in terms of which the local
church will be moved from the mine site to the new town so that it may
remain at the heart of the resettled community.
Cooperation from the local community and the authorities has also
enabled Kibali to end all illegal and informal mining on the project
site, helping to clear it fully for the construction phase. The
construction camp's design has consequently been completed and its
components have been ordered. The project's government partner, OKIMO,
has ceased its own operations within the site area and its assets there
have been acquired by Kibali.
The company and its partners continue to work with the local community
to alleviate the loss of income derived from informal mining.
Alternative work programmes have already been created and these
include the production of basic building materials to be used for the
construction of the RAP houses as well as the mine.
Progress on other fronts includes the substantial upgrading of the
regional infrastructure through the completion ahead of schedule of the
roads between Aru/Doko, Nzoro and Aru/Arriwara - the latter being a
contribution towards the president's priority fund aimed at improving
infrastructure. The completion of these roads has already directly
benefited the local communities by improving the availability of basic
goods and therefore significantly cutting their cost of living. The
Aru/Doko road is particularly significant as it links Kibali with
international ports.
In the meantime, the feasibility study on Kibali has been updated and
rescoped. The results of this exercise will be reported with the
Randgold Resources 2010 year end results to be released on 7 February
2011.
ENQUIRIES:
Mark Bristow Willem Jacobs
Kibali chairman & Randgold Randgold Resources GM operations
Resources CEO Central & E Africa
+223 6675 0122 / +44 788 071 1386 +27 72614 4053 / +27 82905 6797
Louis Watum Kathy du Plessis
GM Kibali Goldmines Randgold investor & media relations
+243 994 035464 / +256 782 239767 +44 20 7557 7738
randgoldresources@dpapr.com
Website:
www.randgoldresources.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the
historical information contained herein, the matters discussed in this
news release are forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934, and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the estimation
of mineral reserves and resources, the realisation of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as "will", "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled","estimates",
"forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could",
"would","might" or "will be taken", "occur" or "be achieved". Assumptions
upon which such forward-looking statements are based are in turn based on
factors and events that are not within the control of Randgold and
there is no assurance they will prove to be correct. Forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Randgold to be materially different from
those expressed or implied by such forward-looking statements,
including but not limited to: risks related to the integration of
Randgold and Moto, risks related to mining operations, including
political risks and instability and risks related to international
operations, actual results of current exploration activities,
conclusions of economic evaluations, changes in project parameters as
plans continue to be refined, as well as those factors discussed in the
section entitled "Risk Factors" in Randgold's annual report on Form
20-F for the year ended 31 December 2009 which was filed with the US
Securities and Exchange Commission (the "SEC") on 31 March 2010.
Although Randgold has attempted to identify important factors that
could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. Randgold does not
undertake to update any forward-looking statements herein, except in
accordance with applicable securities laws.
CAUTIONARY NOTE TO US INVESTORS: the SEC permits companies, in their
filings with the SEC, to disclose only proven and probable ore
reserves. We use certain terms in this release, such as "resources",
that the SEC does not recognise and strictly prohibits us from
including in our filings with the SEC. Investors are cautioned not to
assume that all or any parts of our resources will ever be converted
into reserves which qualify as 'proven and probable reserves' for the
purposes of the SEC's Industry Guide number 7.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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