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In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
Kibali to create economic value for whole DRC

JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 01/31/13 --

Toronto SE Symbol - TSX-V:IAE

Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
("Randgold Resources" or "Randgold")


Lubumbashi, 31 January 2013 - The giant Kibali gold project currently
being developed in the Democratic Republic of Congo will bring lasting
economic benefits to the whole country, says Randgold Resources chief
executive Mark Bristow. Randgold, which owns 45% of the project, is
developing and will operate the mine scheduled to produce its first
gold by the end of this year.

The project is already providing employment to some 6000 Congolese,
and 12 Congolese contractors have been appointed to construct the new
model village of Kokiza and to maintain the recently upgraded roads
around the mine. Some 1800 families have been relocated to date from
the mine site to nearby Kokiza, where new houses are being built at the
rate of 45 per week.

Bristow said this showed the multiplier impact mining could have on
emerging economies. Not only will Kibali return about half of its
revenue to the state in the form of taxes, royalties and dividends, it
will also create substantial economic value through the provision of
goods and services as well as generating jobs, transferring skills and
uplifting the community through quality of life initiatives.

Open pit mining is already underway at Kibali to build up ore
stockpiles before the start of production and the plant is also taking
shape with the recent installation of the two mills. Development of
both underground declines has started and the parallel development of
the vertical shaft is progressing well and the first of four hydropower
stations which will supply electricity to the mine is under

The combined open pit and underground mining operation has an estimated
life of 20 years and plans to produce an average of more than 600000
ounces per year between 2014 and 2023, making it one of the largest
gold mines in the world.

Click on, or paste the following link into your web browser, to view
the full announcement.

                    This information is provided by RNS
          The company news service from the London Stock Exchange


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