RandGold Resources Says Kibali on Track to Produce for Shareholders

RandGold Resources (NASDAQ:GOLD) reported that they expect to be able to deliver the first bar of gold from their Kibali gold project in the DRC later this year, and that the project is on track to produce value for shareholders.

As quoted in the press release:

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.

RandGold’s CEO,  Mark Bristow, said:

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.

To view the whole press release, click here.