Name and Location
Kibali gold project, Democratic Republic of Congo (DRC).

Client
The Kibali joint venture comprises Randgold Resources (45%), AngloGold Ashanti (45%) and DRC State-owned mining company l’Office des Mines d’Or de Kilo-Moto (10%).

Project Description
The Kibali operation will comprise an integrated underground and openpit mine, a twin-circuit sulphide and oxide plant with a throughput of six-million tons a year, four self-constructed hydropower stations and a standby high-speed thermal power generator for backup during the dry season.

The project is being constructed in two overlapping phases.

Phase 1 covers the metallurgical plant, the first phase of the tailings storage facility, the construction of a hydropower station, a backup thermal power plant, construction of the tailings storage facility, openpit mining, all shared infrastructure and the completion of the resettlement programme.

Phase 2 will involve the development of the underground mine, including a twin decline and single shaft vertical system, as well as three hydropower stations. The current life-of-mine plan envisages an average yearly output of about 600 000 oz for the first 12 years, with an average grade of 4.1 g/t.

Value
Total capital for Phase 1 has increased from $920-million to $990-million, while Phase 2 has increased from $650-million to $670-million.

Duration
Phase 1 will run from the first quarter of 2012 to the fourth quarter of 2013.
Phase 2 is expected to deliver first ore in 2014 and to reach steady-state production by 2015.

Latest Developments
Kibali’s two ball mills were installed on their foundations ahead of schedule in January and openpit mining has produced the first ore for the feed stockpiles.

Structural civils in the areas of the primary crushers, the elution circuit and mill classification have been completed, allowing steelwork erection to begin in these areas.

Steelwork on the carbon-in-leach plant is progressing well, with the welding of 5 out of 11 tanks completed. Civil works have started at the gold room, on the main block house, which secures the electrowinning and smelting sections.

Civil works have also progressed at the Nzoro 2 powerhouse.

The clean fuel tanks at the main fuel farm have been installed and the first of the main receiving tanks was to be handed over for testing in the first quarter of 2013.

Earthworks focused on key areas, including the high-tension substation, the concentrate and flotation tailings storage facilities and the airstrip.

Key Contracts and Suppliers
SRK Perth (underground mine design), RSV Perth (feasibility study for the shaft) and DRA (metallurgical facility design and engineering, procurement and construction management).

On Budget and on Time?
The project remains on track to deliver first gold in the fourth quarter of 2013.

Contact Details for Project Information
Randgold Resources investor and media relations, Kathy du Plessis, tel +44 20 7557 7738 or
email randgoldresources@dpapr.com; or Randgold GM operations Central and East Africa Willem Jacobs, tel +27 72 614 4053.
DRA, tel +27 11 202 8600, fax +27 11 202 8807 or email dra@drasa.co.za.