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 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 average yearly output of about 600 000 oz for the first 12 years, with an average grade of 4.1g/t.

Value
The 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
Randgold has reported that first mechanicals at the metallurgical plant’s primary crushers and classification area, the elution columns and the regeneration kiln have been installed. Further, the installation of the metallurgical plant’s electrical control system and mill lubrication have started. Mill girth gears have also arrived on site.

The vertical shaft site establishment and steel erection work at primary crushers and oxide conveyor have been completed, as have the construction of the first 1 500 m of the airstrip.

The first carbon-in-leach tanks have started filling with water.

The construction of the main diversion channel is on track.

The manufacture of the headgear has started.

The vertical shaft presink has started, with the boxcut for the shaft excavated and subsequent civil work completed, including further sinking of the shaft to 14.8 m. The excavation of the toe in and the final concrete lining back-up to connect the subbank at -7 m is also complete.

The relocation action plan ramped up to deliver an average of 95 houses a week.

The Catholic church complex is also nearing completion, as all the buildings have been completed except the church, which is still under construction.

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.