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

Client
The Kibali joint venture comprises Randgold Resources (45%), AngloGold Ashanti (45%) and DRC State-owned mining company Société des Mines d’Or de Kilo-Moto (10%). Randgold is the developer and operator of the mine.

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 tonnes 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 over 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 involves the development of the underground mine, including a twin decline and single-shaft vertical system, and 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
Kibali represents an initial investment of $1.725-billion by Randgold and AngloGold Ashanti.

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 is a work in progress, with shaft sinking under way at the project’s underground mine.

Further, the first of four hydropower stations is expected to be commissioned soon and the remaining sulphide circuit is scheduled for completion at the end of the first quarter of 2014.

Nevertheless, the project is expected to exceed its gold production for its first full quarter of operation, the three months to December, and meet its forecast of 550 000 oz of gold for the current year.

The mine is also expected to make a net profit in its first quarter.

Key Contracts and Suppliers
Byrnecut (underground development); Shaft Sinkers (vertical shaft development); DTP (openpit mining)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, tel +44 20 7557 7738 or email randgold@dpapr.com.