Randgold Resources Ld: Kibali gold mine poised to deliver

JERSEY, CHANNEL ISLANDS--(Marketwired - Apr 16, 2013) -

 

RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
("Randgold Resources" or "Randgold")

KIBALI POISED TO DELIVER

Kinshasa, DRC, 16 April 2013 - The giant Kibali gold project in the
Democratic Republic of Congo is steadily nearing the stage where it
will start to deliver value to its stakeholders and to support the
economic growth of the DRC, says developer and co-owner Randgold
Resources.

Speaking at a media presentation here today, chief executive Mark
Bristow said the Randgold projects team was fully focused on its target
of producing Kibali's first bar of gold before the end of this year.
At the same time, the operational team who will run the mine is being
marshalled. In line with Randgold's philosophy of local employment and
empowerment, Kibali's general manager and most of its senior managers
will all be Congolese nationals.

When the combined open pit and underground mining operation is running
at full capacity, Kibali will be processing 7 million tonnes of ore per
year to produce around 600000 ounces of gold, making it one of the
largest gold mines in Africa. Open pit mining is already underway to
build up the ore stockpile which currently stands at 600000 tonnes.
The projects team is also pressing ahead with the underground mine
development, and work on the decline and the vertical shaft is
progressing rapidly."We are not just building a
world-class mine here,we've also expanded
and upgraded the regional infrastructure, which is already benefiting
the Orientale province where Kibali is located. We're also rehousing
the local community in a model village which, when it is completed by
the middle of the year, will comprise 4000 new homes with access to
water and power, as well as clinics, schools and churches," Bristow
said."Our aim is to develop sustainably profitable mining businesses in
partnership with our host countries, and our vision is a long term
one. Since acquiring the Kibali project, we have more than doubled its
gold reserves through exploration and we continue to hunt for further
ounces within the lease area, so that we can replace what we consume
through mining. In addition, we are expanding our presence in the DRC
through our recent joint venture with Kilo Goldmines, which has given
us access to a holding of more than 2000km2 in the prospective
greenstone belts in the northeast of the country."

Bristow said Randgold believed that the DRC's Orientale province had
the potential to become another Katanga. To achieve this, however, the
country's central and regional governments would have to match
Randgold's own commitment to its development."Like many African
 countries, the DRC has an unhappy history of
resource exploitation, first by its colonial masters and then by its
own previous governments. Responsibly employed, the DRC's mineral
wealth can be the foundation of a strong economy which will be of
lasting benefit to the country and all its people, but only if the
temptation to harvest this great asset prematurely is resisted.
Randgold has already shown its intent by delivering on all its
promises, and we trust that Kibali's other stakeholders, notably the
government, will do the same," he said.


ENQUIRIES:
Mark Bristow                       Willem Jacobs
Kibali chairman & Randgold         Randgold GM operations Central & East
Resources CEO                      Africa
+223 6675 0122/+44 788 071 1386    +243 991 001 222


Louis Watum                       Kathy du Plessis
GM Kibali Goldmines               Randgold investor & media relations
+243 994 035464/+243 817 153 062  +44 20 7557 7738 /  randgold@dpapr.com 

Website:  www.randgoldresources.com 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the
historical information contained herein, the matters discussed in this
news release are forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934, and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the estimation
of mineral reserves and resources, the realisation of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as 'will', 'plans', 'expects'
or 'does not expect', 'is expected', 'budget', 'scheduled','estimates',
'forecasts', 'intends', 'anticipates' or 'does not
anticipate', or 'believes', or variations of such words and phrases or
state that certain actions, events or results 'may', 'could', 'would',
'might' or 'will be taken', 'occur' or 'be achieved'. Assumptions upon
which such forward-looking statements are based are in turn based on
factors and events that are not within the control of Randgold
Resources Limited ('Randgold') and there is no assurance they will
prove to be correct. Forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Randgold to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to: risks
related to mining operations, including political risks and instability
and risks related to international operations, actual results of
current exploration activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined, as well
as those factors discussed in Randgold's filings with the US Securities
and Exchange Commission (the 'SEC'). Although Randgold has attempted
to identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Randgold does not undertake to update any forward-looking
statements herein, except in accordance with applicable securities
laws. CAUTIONARY NOTE TO US INVESTORS: The SEC permits companies, in
their filings with the SEC, to disclose only proven and probable ore
reserves. We use certain terms in this release, such as 'resources',
that the SEC does not recognise and strictly prohibits us from
including in our filings with the SEC. Investors are cautioned not to
assume that all or any parts of our resources will ever be converted
into reserves which qualify as 'proven and probable reserves' for the
purposes of the SEC's Industry Guide number 7.

                    This information is provided by RNS
          The company news service from the London Stock Exchange

END