SOURCE: Randgold Resources

July 20, 2015 12:00 ET

Randgold Resources: Developing a New Economic Frontier in the DRC

JERSEY, CHANNEL ISLANDS--(Marketwired - Jul 20, 2015) - Randgold Resources (LSE: RRS) (NASDAQ: GOLD)

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

DEVELOPING A NEW ECONOMIC FRONTIER IN THE DRC

Kinshasa, DRC, 20 July 2015  - The Kibali gold mine is well on track to achieve its production guidance of 600 000 ounces for this year and, while work still continues on the development of its underground operation and second hydropower plant, the business is running at its designed specifications, Randgold Resources chief executive Mark Bristow said here today.

At his quarterly update for local media, Bristow also announced that Randgold had entered into a ground-breaking protocol with the communities that surround the mine and local authorities, to deploy Kibali in the development of a new economic frontier in the underdeveloped north-east of the country.

"The agreement, which was facilitated by the provincial parliamentarians, formalises the spirit of partnership which has existed between us since the start of the Kibali project, provides us with an engagement framework going forward, and demonstrates Randgold's commitment here, as in our other host countries, to creating value and sharing it with our stakeholders. It is, in fact, a social contract in the real sense of that term," he said.

Bristow said Randgold was steadily broadening the range of Congolese businesses providing goods and services to Kibali in order to promote the expansion of the local economy. Construction, ore hauling, transport and waste management are all now handled by Congolese companies, and a collective of local women is feeding more than 2 000 workers daily from mobile kitchens. Kibali has also committed a sum of $1 million to support economic development in the region and as part of this launched a successful business management training programme for aspiring entrepreneurs in the area.

"Beyond the Kibali footprint, we're working actively to attract further investment in the region, and our feasibility study on an exciting palm oil project is currently being presented to the relevant ministries. The study confirmed the viability of this project: the DRC has the physical resources and there is a large and growing market for the product. Kibali will provide the seed money for its development, but it will be privately owned with material Congolese participation," he said.

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

http://www.rns-pdf.londonstockexchange.com/rns/5414T_1-2015-7-20.pdf

Contact Information

  • RANDGOLD RESOURCES ENQUIRIES:
    Chief Executive
    Mark Bristow
    +44 788 071 1386
    +44 779 775 2288

    Financial Director
    Graham Shuttleworth
    +44 1534 735 333
    +44 779 771 1338

    Investor & Media Relations
    Kathy du Plessis
    +44 20 7557 7738
    Email: randgold@dpapr.com

    Website: www.randgoldresources.com