Name and Location
Kibali gold mine, 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
Kibali ranks as one of the largest gold mines in Africa. It has a reserve base estimated at 11.6-million ounces and it continues to grow.
The mine comprises an integrated openpit and underground operation, as well as a 7.2-million-tonne-a-year processing plant.
Production from the project’s openpit started in September 2013.
The underground mine includes a twin decline and single-shaft vertical system, and four hydropower stations supported by a thermal power station for low rainfall periods and as back-up.
Net Present Value/Internal Rate of Return
Not stated.
Value
The project represents an investment of more than $2.5-billion by the project partners.
Duration
Production from the openpit started in September 2013.
The vertical shaft system is expected to be handed over in 2017.
Latest Developments
The Kibali gold project is sustaining its operating momentum and is expected to exceed its 2015 production target of 600 000 oz of gold.
Speaking at a quarterly update for local media on October 16, Randgold CE Mark Bristow said the recent completion of the vertical shaft sinking, ahead of schedule, marked a major advance in the development of the underground mine, which will complement Kibali’s existing openpit operation.
The other remaining capital projects are also making good progress, with the mine’s second hydropower station in the process of commissioning the first of two phases.
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 Kibali openpit was successfully commissioned ahead of schedule and within budget on September 24, 2013.
Contact Details for Project Information
Randgold Resources, tel +44 20 7557 7738 or email randgold@dpapr.com.
Byrnecut, tel +61 8 9270 1000 or fax +61 8 9270 1001.
Shaft Sinkers, tel +27 11 445 4300 or email info@shaftsinkersgroup.com.
DRA, Christoff Badenhorst, tel +27 11 202 8600 or email info@DRAglobal.com.