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Overview

Kibali comprises 10 permits covering an area of about 1 836km² in the Moto goldfields of the north easDRC, some 560km north east of the city of Kisangani and 150km west of the Ugandan border town of Arua. Kibali is a joint venture between Randgold (45%), AngloGold Ashanti (45%) and the Congolese parastatal SOKIMO (10%).

The project is operated by Randgold Resources and represents an investment of more than US$ 2.5 billion by the partners.

Kibali comprises an integrated open pit and underground operation as well as a 7.2Mtpa processing plant. The mine poured its first gold in September 2013 from open pit mining and is currently developing the underground mine via twin declines and a vertical shaft, with the handover of the vertical shaft scheduled for 2017.  The project will ultimately be supplied by four hydropower stations supported by a thermal power station for low rainfall periods and as back-up.

With a reserve base at 11.6Moz and still growing, it ranks as one of the largest gold mines in Africa.

Achieved in 2015

  • Produced 642 720oz, 7% above target, at a total cash cost of $604/oz
  • Maintained underground decline development on schedule
  • Completed shaft sinking ahead of schedule and started with equipping
  • Commenced mining from the Mengu Hill open pit
  • Commenced preparation for mining of Pakaka open pit
  • Underground ore production ramped up on schedule to 100 000t/month by year end
  • Backfill plant commissioned on schedule and operating above design specification
  • Continued improvement in mill throughput reaching design specification
  • Malaria incident rate reduced by 46% year on year
  • Recommended for ISO 14001 environmental management system certification
  • $2 million direct contribution to community development with $1 million on local economic development projects
  • More than $1 billion spent with Congolese suppliers and contractors project to date

Targeted in 2016

  • Produce 610 000oz of gold
  • Maintain decline development schedule on target
  • Maintain shaft equipping and off shaft development on schedule
  • Continue to ramp up underground ore production
  • Commence mining at Pakaka open pit
  • Commission Ambarau hydropower station
  • Advance construction of Azambi hydropower station
  • Obtain ISO 45001 health and safety certification
  • Maintain ISO14001 certification
  • Reduce LTIFR
  • Commence macro agribusiness project

Key 2015 numbers
for the 12 months ended 31 December

Equity ownership

 

45%

2015 production.

(100%)

642 720oz

Total cash costs

($/oz)

604

Profit from mining activity#

(100%)

$358.2m

Total reserves

(100%)

11Moz

Total resources measured and indicated

(100%)

16Moz

Total resources inferred

(100%)

3.9Moz

Lost Time Injury Frequency Rate

 

0.56

#Profit from mining activity is calculated by subtracting total cash costs from gold sales, and is measured prior to depreciation, interest and corporate tax charges.

Kibali Mineral Resources and Ore Reserves

 

 

 

Tonnes (Mt)

 

Grade (g/t)

 

Gold (Moz)

       Attributable
   gold3 (Moz)

at 31 December

Category

2015

2014

2015

2014

2015

2014

2015

2014

Mineral resources1

 

 

 

 

 

 

 

 

Stockpiles

Measured

3.8

3.8

1.7

1.4

0.2

0.2

0.1

0.1

Open pits

Measured

6.5

4.4

2.4

2.4

0.5

0.3

0.2

0.1

 

Indicated

56

63

2.1

2.1

3.8

4.3

1.7

1.9

 

Inferred

18

21

1.8

1.8

1.0

1.2

0.5

0.6

Underground

Indicated

68

68

5.2

5.4

11

12

5.1

5.2

 

Inferred

29

32

3.0

3.1

2.8

3.2

1.3

1.4

TOTAL MINERAL RESOURCES

Measured and

Indicated

134

139

3.7

3.7

16

16

7.2

7.4

 

Inferred

47

53

2.5

2.6

3.9

4.4

1.7

2.0

Ore reserves2

 

 

 

 

 

 

 

 

Stockpiles

Proved

3.8

3.8

1.7

1.4

0.2

0.2

0.1

0.08

Open pits

Proved

0.2

1.6

3.7

2.6

0.03

0.1

0.01

0.06

 

Probable

30

33

2.2

2.4

2.2

2.5

1.0

1.1

Underground

Probable

45

44

5.6

5.7

8.2

8.2

3.7

3.7

TOTAL ORE RESERVES

Proved and probable

80

83

4.1

4.1

11

11

4.8

4.9

1    Open pit mineral resources are the insitu mineral resources falling within the $1 500/oz pit shell reported at a cut-off of 0.5g/t. Underground mineral resources are those insitu mineral resources at the KCD deposit that fall below the 5 685 metre RL elevation, reported at a cut-off of 1.5g/t. Mineral resources were generated by Mr Ernest Doh an officer of the company and competent person and Mr Mamadou Ly an officer of the company; under the supervision of Mr Jonathan Kleynhans an officer of the company and competent persons. 


2     Open pit ore reserves are reported at a gold price of $1 000/oz and an average cut-off of 0.88g/t and include dilution and ore loss factors. Open pit ore reserves were calculated by Mr Nicholas Coomson, an officer of the company and a competent person. Underground ore reserves are reported at a gold price of $1 000/oz and a cut-off of 2.5g/t and include dilution and ore loss factors. Underground ore reserves were calculated by Mr Tim Peters, an external consultant and a competent person.


3     Attributable gold (Moz) refers to the quantity attributable to Randgold based on its 45% interest in the Kibali gold mine.  Mineral resource and ore reserves are quoted as per JORC 2012 guidelines and thus reported to the second significant digit.


Refer to the notes to the annual resources and reserves declaration on page 95 of the 2015 annual report.