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Press release from Marketwire

Randgold Resources Ld: Kibali signals long-term value creation in DRC

Thursday, October 10, 2013

Randgold Resources Ld: Kibali signals long-term value creation in DRC

12:12 EDT Thursday, October 10, 2013

JERSEY, CHANNEL ISLANDS--(Marketwired - October 10, 2013) - Randgold Resources Ld (TSX: GOLD)


RANDGOLD RESOURCES LIMITEDIncorporated in Jersey, Channel IslandsReg. No. 62686LSE Trading Symbol: RRSNASDAQ Trading Symbol: GOLDTSX-GOLDKIBALI START-UP SIGNALS POTENTIAL FOR LONG-TERM VALUE CREATION IN DRCKinshasa, DRC, 10 October 2013 - The new Kibali gold mine, whichstarted production last month, could be the catalyst for substantiallong-term value creation in the Democratic Republic of Congo if it ishandled correctly by all its stakeholders, Randgold Resources chiefexecutive Mark Bristow told a media briefing here today.Randgold has developed and is operating the mine, which will be one ofthe largest of its kind in Africa, and has a 45% interest in it, withAngloGold Ashanti also owning 45% and the Congolese parastatal Sokimoholding the balance.Bristow said despite some apprehension in the market about the wisdomof attempting such a giant project in this region, Kibali had beenbrought into production ahead of schedule and within budget."We were ableto 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 nextchallenge is to continue our partnership in this spirit, and to worktogether to make Kibali successful, so that it can serve as afoundation for building general economic welfare in this region," hesaid.The open pit mine is producing one million tonnes of ore per month andthe plant is ramping up well, already achieving 80% of its designcapacity. With steady state production imminent, Kibali is set tostart gold sales later this month. In the meantime, development of thedeclines and shaft for the underground mine is progressing ahead ofplan, with first ore from the underground anticipated in 2015, whileexploration is continuing to grow Kibali's resources. A reserve updatefor Kibali will be published later this year, ahead of Randgold'scustomary annual group resource and reserve declaration.Click on, or paste the following link into your web browser, to viewthe associated PDF document. This information is provided by RNS The company news service from the London Stock ExchangeEND


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