Randgold commissions sulphide circuit at DRC flagship



Photo by Randgold Resources

25th February 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America


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TORONTO ( – Gold miner Randgold Resources has started commissioning of the sulphide circuit at the Kibali gold mine, in the Democratic Republic of Congo (DRC).

Kibali started production from its openpit through its oxide circuit last September and completing the sulphide circuit would significantly advance its development as a world-class gold mining complex.

Speaking at the BMO Global Metals and Mining Conference in Miami, Florida, CEO Mark Bristow described Kibali as a work in progress.

“While the plant processes ore from the openpit mine, the underground mine is still being developed and has just accessed the first underground ore,” he said.

Randgold is developing and operating Kibali, in which it has a 45% stake.

Bristow noted that, like all the other mines Randgold has developed, Kibali posted a bottom-line profit in its first quarter of operation, the three months to December. It is on track to meet its production guidance of 550 000 oz for 2014.

While much of the gold mining industry had been left in disarray by the downturn in the gold price, Randgold’s long-term growth strategy remained intact, Bristow affirmed.

“We’re not worrying about how we’re going to get through 2014; we have a robust value-focused five-year plan in place, and we are looking to build on that. It’s worth noting that our models are based entirely on our banked reserves and on a long-term gold price of $1 000/oz,” he said.

“In addition to the upside associated with Kibali’s main openpit and underground orebodies, which is still being evaluated, our exploration team is also hunting for fresh opportunities within its vast lease areas, and a number of exciting, if early stage, prospects have already been identified.

“Elsewhere in the DRC and West Africa, we’re aggressively exploring our extensive ground holdings for new discoveries,” he said.

Edited by Creamer Media Reporter




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