Randgold Resources - Tongon turnaround continues JERSEY,

JERSEY, CHANNEL ISLANDS--(Marketwired - Jul 29, 2013) - Randgold Resources ( LSE : RRS ) ( NASDAQ : GOLD )

 

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


AS TONGON TURNAROUND CONTINUES, RANDGOLD CALLS FOR RENEWED COMMITMENT
TO FUTURE OF COTE D'IVOIRE MINING

Abidjan, Cote d'Ivoire, 27 July 2013 - Randgold Resources remains
committed to working with the government of Cote d'Ivoire to build a
sustainable mining industry in that country by using its Tongon
operation as a platform from which to find and develop more world-class
gold deposits, chief executive Mark Bristow said today.

Bristow told a media briefing here that the current crisis in the
global gold mining industry, prompted by the downturn in the gold
price, was being exacerbated in Cote d'Ivoire by continuing uncertainty
over the country's mining code. Consequently mining companies were
withdrawing from Cote d'Ivoire or delaying or downsizing their projects
there."Randgold has been in Cote d'Ivoire since the early Nineties and in
that time we have seen the country face and deal with some major
challenges. The government has already made significant progress in
restabilising the country along with the other parties, and we are
confident that the country will also weather the storm in the gold
market if together we reinforce the partnership between capital, labour
and the state and renew our mutual commitment to the long-term
development of this industry," he said.

Randgold was demonstrating its own commitment by upgrading the Tongon
operation and stepping up its exploration programmes in the country,
Bristow said. He noted that the company had already mobilised on the
new exploration permits it had recently been granted by the government.

Turning to Tongon, Bristow said after contending with operational
setbacks last year, the mine was steadily improving its performance as
the turnaround programme initiated by management started showing
results.

Key to the improvement has been the stabilisation of the power supplied
by the Ivorian national grid. Tongon's usage of grid power, a major
component of its cost profile, is now nearing planned levels. Several
projects to drive costs down, increase mill throughput and improve gold
recovery are also currently underway. The first of four new crushers
has just been installed and the milling circuit is being upgraded. A
gravity concentrate circuit is being installed in the process plant, as
well as an intensive leach reactor. In addition, residence time in the
concentrate treatment pumpcell section has been increased."As a high volume
producer, Tongon is particularly sensitive to
efficiencies and input costs. Its management is therefore continuing
to review every aspect of the business to find further room for
improvement," Bristow said. "Randgold as a whole is well placed to
handle the downturn in the gold price, as our business has always been
planned to be profitable at lower price levels."


RANDGOLD ENQUIRIES

Chief Executive  Group regional manager West  Investor & Media
Mark Bristow     Africa                       Relations
+44 788 071 1386 Mahamadou Samake             Kathy du Plessis
+223 66 75 01 22 +223 66 75 61 36             +44 20 7557 7738
                 +223 20 20 16 94             Email:  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

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