Randgold Resources Ld: Kibali signals long-term value creation in DRC JERSEY, CHANNEL ISLANDS -- (Marketwired) -- 10/10/13 -- Randgold Resources Ld (TSX: GOLD) (LSE: RRS) (NASDAQ: GOLD) *T RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS NASDAQ Trading Symbol: GOLD TSX-GOLD KIBALI START-UP SIGNALS POTENTIAL FOR LONG-TERM VALUE CREATION IN DRC Kinshasa, DRC, 10 October 2013 - The new Kibali gold mine, which started production last month, could be the catalyst for substantial long-term value creation in the Democratic Republic of Congo if it is handled correctly by all its stakeholders, Randgold Resources chief executive Mark Bristow told a media briefing here today. Randgold has developed and is operating the mine, which will be one of the largest of its kind in Africa, and has a 45% interest in it, with AngloGold Ashanti also owning 45% and the Congolese parastatal Sokimo holding the balance. Bristow said despite some apprehension in the market about the wisdom of attempting such a giant project in this region, Kibali had been brought into production ahead of schedule and within budget."We were able to prove the sceptics wrong because all the stakeholders - notably the Congolese government and people - wanted this mine, and cooperated energetically to bring it into being. The next challenge is to continue our partnership in this spirit, and to work together to make Kibali successful, so that it can serve as a foundation for building general economic welfare in this region," he said. The open pit mine is producing one million tonnes of ore per month and the plant is ramping up well, already achieving 80% of its design capacity. With steady state production imminent, Kibali is set to start gold sales later this month. In the meantime, development of the declines and shaft for the underground mine is progressing ahead of plan, with first ore from the underground anticipated in 2015, while exploration is continuing to grow Kibali's resources. A reserve update for Kibali will be published later this year, ahead of Randgold's customary annual group resource and reserve declaration. Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/2294Q_1-2013-10-10.pdf This information is provided by RNS The company news service from the London Stock Exchange END Contacts: RNS Customer Services 0044-207797-4400 firstname.lastname@example.org http://www.rns.com
Randgold Resources Ld: Kibali signals long-term value creation in DRC
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