|By Marketwired .||
|January 20, 2014 11:45 AM EST||
JERSEY, CHANNEL ISLANDS -- (Marketwired) -- 01/20/14 --
TSX: GOLD; LSE: RRS RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS NASDAQ Trading Symbol: GOLD KIBALI MEETS ITS GOALS AND MORE Kinshasa, DRC, 20 January 2014 - The Kibali gold mine, which last month completed its first quarter of operation, has more than met the objectives set for it at the time of its acquisition in September 2009, Randgold Resources chief executive Mark Bristow said at a media briefing here today. Randgold is developing and operating the project, in which it has a 45% shareholding. Randgold's clear goals from the start, Bristow noted, were to define the orebody's full potential, redesign the existing feasibility study, create a supply line from Doko to the Ugandan border, secure the project area in partnership with the central and provincial governments, resettle more than 4000 families from 14villages in a new model town, and start production in 2015."There were few people outside the Randgold management team and the DRC who believed that we could achieve this. But in short order we produced a blueprint for a much larger operation than originally envisaged, among other things increasing mineral reserves to 11 million ounces of gold, accelerating the construction programme and bringing first gold production forward to December 2013," Bristow said."The enormous resettlement programme was completed successfully, construction went according to plan, the infrastructure was upgraded, open pit mining started, and with the oxide circuit of the metallurgical plant commissioned ahead of schedule, Kibali poured its first gold on 24 September 2013, with gold sales commencing the following month. This would not have been possible without the support and cooperation of the Congolese authorities and the local community." Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/0906Y_1-2014-1-20.pdf This information is provided by RNS The company news service from the London Stock Exchange END
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