SOURCE: Randgold Resources

January 27, 2015 11:51 ET

Randgold Resources Limited - Settling In on the New Frontier

JERSEY, CHANNEL ISLANDS--(Marketwired - Jan 27, 2015) - Following the successful completion of the first phase of its development, the Kibali gold mine is now well advanced into the second and final phase which will take it to full production by 2018, Randgold Resources (LSE: RRS) (NASDAQ: GOLD) chief executive Mark Bristow told a media briefing here today. Randgold is developing and operating the mine, which it owns in partnership with AngloGold Ashanti and the Congolese parastatal SOKIMO.

Bristow said with the final commissioning of the metallurgical plant and the first of three hydropower plants, Kibali was now operating at design with the ramp up having delivered against plan. The priorities for the current year were to advance the development of the underground mine, which will complement the existing open-pit operations, ramp up annual production to 600 000 ounces, commission the second hydropower plant and start work on the third, and continue expanding and upgrading the local skills base.

He noted that the past year had also seen the finalisation of the resettlement programme, including the completion of the Catholic Church complex in the new model town of Kokiza, the expansion of the local road network to 350 kilometres, and Randgold's ongoing support for the development of a robust local economy. Since the start of the project, Randgold has awarded business valued at more than $650 million to Congolese-owned companies while its engagement with local co-operatives has created more than 400 non-mining jobs.

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Contact Information

    Mark Bristow
    Kibali chairman & Randgold CEO
    +44 788 071 1386

    Willem Jacobs
    Randgold GM operations Central & East Africa
    +243 991 001 222

    Kathy du Plessis
    Randgold investor & media relations
    +44 20 7557 7738

    Graham Shuttleworth
    Randgold financial director
    +44 779 771 1338

    Cyrille Mutombo
    Randgold Country Manager DRC
    +243 990 104 774
    +243 815 035 976