SOURCE: Randgold Resources Ld

January 20, 2012 06:00 ET

Randgold Partnerships conquer challenges at Tongon

JERSEY, CHANNEL ISLANDS--(Marketwire - Jan 20, 2012) -


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


PARTNERSHIPS CONQUER CHALLENGES AT TONGON



Abidjan, Cote d'Ivoire, 20 January 2012 - Randgold Resources' new
gold mine at Tongon in Cote d'Ivoire - nurtured as a project through
a civil war and then successfully commissioned in the final quarter of
2010 during the post-election disturbances - represents a triumph of
the company's philosophy of partnering with its host countries, chief
executive Mark Bristow said here today.



The volatile environment, the challenge of ramping up production while
transitioning from oxide to sulphide ore treatment and complexities
which arose in the changeover from diesel to grid power affected
production. Additionally, a failure of the barring gear on the No1
mill in November led the company to revise its 2011 production guidance
and the mine ended its first full year as a fully stabilised operation
on track to achieve the planned average of 270 000 ounces per year
going forward. Developed at a cost of some US$400 million, it is the
biggest mine in Cote d'Ivoire as well as one of the largest
private-sector investments in that country. It has 90 tonnes of gold
reserves and an estimated 10-year life."When we invest in a new mine, we
are also investing in the country
where it is located and in that country's people," Bristow said. "The
value we demonstrably deliver to these stakeholders builds strong and
mutually beneficial relationships. It is these relationships that
enabled us to develop and commission Tongon in the face of many
obstacles."



He noted that of the 410 people employed at Tongon by Randgold, 382
were Ivorian, many of them recruited from nearby villages, while the
contractors' complement of 773 included 727 national personnel."As a matter
of principle we employ a very high proportion of local
nationals wherever we operate, and we insist that our contractors do
the same. This not only creates employment in remote and often
deprived areas, but also transfers valuable skills which will open up
future opportunities for these people," he said.



Bristow cited the cooperation between Randgold and the Ivorian power
utility as another example of partnership in action. Tongon has now
been plugged into the national power grid, making it the first Randgold
mine which does not have to rely on self-generated electricity. Access
to this power is a significant cost advantage to the mine, but the
roll-out of the grid into the north of the country also benefits the
local communities."Mining in Africa should be about sustainability and not 
short-term
gain. That's why Randgold's growth strategy is a long-term one,
focused on creating lasting value for all its stakeholders," he said.





Randgold Resources enquiries:

Chief Executive                 Financial Director
Mark Bristow                    Graham Shuttleworth
+44 788 071 1386 / +223 66 75   +44 1534 735 333 / +44 779 771 1338
01 22



Group Operations Manager: West  Investor & Media Relations
Africa                          Kathy du Plessis
Samba Toure                     +44 20 7557 7738 /
+223 66 75 77 41 / +223 20 20    randgoldresources@dpapr.com 
16 94

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 2010 which was filed with the US
Securities and Exchange Commission (the 'SEC') on 31 March 2011.
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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