Africa-focused gold miner Randgold Resources is on target to commission its gold-processing facility in the Democratic Republic of Congo during the fourth quarter of 2013, almost two years earlier than originally intended, says Randgold Resources CEO Mark Bristow.
Since acquiring the Kibali gold mine two years ago, Randgold has moved rapidly to optimise and advance the project, and has achieved all its initial aims for what is expected to become one of the largest gold mines in Africa.
Kibali is now moving forward on itsnames of equipments used in quarries construction phase, following the construction of a new town – Kokiza – in which 400 families from the first of the 14 affected villages have already been resettled, as well as the completion of a 178 km road from Doko to Aru, linking Kibali calculating calcite in cement using gypsumto international ports, and 500 km of other regional and access roads.
Randgold also updated and optimised the original feasibility study, which resulted in a doubling of the reserve to some ten-million ounces and mitigated the puequipment that bring sand from waterblic consultation process for, and the community’s consequent buy-in to, the relocation programme.
Further, mining licences were renewed, and the acquisition of four hydropower licences, which will form the basis of an affordable power supply, was completed. Randgold finalised mining and processing strategies, with contractor tenders being adjudicated and all significant long-lead items secured.
The Kibali project has also created about 1 500 jobs and promoted local cottage industries for the supply of materials and the construction of housing.
“This rate of progress would not have been possible without the support and cooperation of all stakeholders, notably the central and regional governments, the local communities and the company’s partners, miner AngloGold Ashanti and State-owned mining company Société Minière de Kilo-Moto (Sokimo),” says Bristow.
Together with its partners, Randgold is expecting to invest about $1.4-billion, in addition to the acquisition costs, into the development of this project.
Bristow adds that, as Randgold continues to advance its understanding of the area’s geology, the company has noted that Kibali has enormous, and as yet undefined, potential for increased resources.
Randgold, which will operate the mine, is developing Kibali in partnership with gold miner AngloGold Ashanti, with each company owning a 45% stake and Sokimo 10%.