SOURCE: Randgold Resources Ld
JERSEY, CHANNEL ISLANDS--(Marketwired - Sep 24, 2013) - Randgold Resources Ld (LSE: RRS)
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
MAJOR EFFORT DELIVERS EARLY START-UP FOR KIBALI
Kibali, DRC, 24 September 2013 - The giant Kibali gold project in the
Democratic Republic of Congo today officially poured its first bar of
gold in a ceremony attended by Congolese officials including
representatives from the Provincial Government and various ministries
and the offices of the President and Prime Minister, traditional
leaders as well as executives of the parastatal SOKIMO and the joint
venture partners Randgold Resources and AngloGold Ashanti.
The mine has been brought into production ahead of schedule after a
massive operation which included the resettlement of more than 4000
families to a new model village and the substantial upgrading of the
local infrastructure. The construction process alone has required a
team of more than 7000 people on site at one time.
Randgold is developing and operating the mine, which with a projected
annual production of some 600000ounces of gold, reserves of
11millionounces and resources of 21millionounces will rank as one
of the largest of its kind in Africa. The mine is being developed in
two concurrent phases at an estimated initial cost of US$1.7billion,
starting as an open pit operation, with the underground mine, already
well advanced, scheduled to access ore in 2015.
Speaking at the ceremony, Randgold's general manager operations for
Central and East Africa, Willem Jacobs, said that in line with
Randgold's partnership philosophy, the mine was destined to be an
enormous economic boon to its Congolese stakeholders: the state, which
has a 10% interest in Kibali through SOKIMO, the Province Orientale,
where Kibali is located, and the local community.
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