Bloomberg News

Randgold Resources to Commission Kibali Plant by End of 2013

October 04, 2011

(Updates with CEO comment in second paragraph.)

Oct. 4 (Bloomberg) -- Randgold Resources Ltd. plans to commission a gold-processing facility at its Kibali project in the Democratic Republic of Congo in the fourth quarter of 2013, almost two years earlier than originally forecast, Chief Executive Officer Mark Bristow said today in a statement.

“Since acquiring Kibali almost exactly two years ago, Randgold has moved rapidly to optimize and advance the project, which is expected to become one of the largest gold mines in Africa,” Bristow said. “Together with our partners, we are expecting to invest around $1.4 billion, in addition to the acquisition costs, in the development of this project.”

RandGold’s partners in the venture are AngloGold Ashanti Ltd. and a government-run company known as Sokimo.

Link to Statement:{NSN LSJR023HBS3K <GO>}

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