Name and Location
Yalea underground gold mine, Loulo mine, Mali.

Client
Randgold Resources’ 80%-owned subsidiary Société des Mines de Loulo.

Project Description
The Loulo mine currently consists of the Yalea and Loulo 3 openpits, as well as the Yalea and Gara underground mines.

The development of the Yalea and Gara underground gold mines at Loulo includes the sinking of declines below the openpits and both operations have started mechanised long-hole open stoping.

The underground mines will extend the life-of-mine to 2031.

Value
An amount of $100-million, which will take the financial commitment in the entire Loulo complex to $200-million.

Duration
Construction on the project started in 2006.

Latest Developments
In the quarter ended June 30, 2012, Rangold reports that the Yalea decline has advanced 2 259 m from surface at a vertical depth of 381 m.

Overall development has significantly improved from 2 206 m in the March quarter to 2 845 m in the June quarter, an increase of 29%. This was as a result of the ventilation system upgrade, with the installation of the second 500 kW fan, which created independent blasting conditions between the two main sections.

Ore production for the quarter came primarily from 63 level block 3 and 4, and increased 28%, compared with the previous quarter.

Further, the mine has continued with the design and development of the paste aggregate fill with respect to the backfill project, and has also progressed a cement aggregate fill strategy in the interim, which will allow f the high-grade stopes to be extracted earlier than planned.

Key Contracts and Suppliers
Shaft Sinkers (mine development and stoping contract) and Laboré Technical (conveyors).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Randgold Resources, tel +44 1534 735 333 or fax +44 1534 735 444.
Shaft Sinkers, tel +27 11 445 4300, fax +27 11 444 4410 or email sinkers@shaftsinkers.co.za.