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Overview

The Kibali mine has been developed in two phases. Phase 1, which encompassed the KCD open pit operation and processing plant, the mine infrastructure (including a 36-unit high speed thermal power station) and the first of three hydropower stations, was completed in December 2014. Phase 2, comprising the underground mine development, including the vertical shaft, was commissioned at the end of the year and two additional hydropower stations, one of which was commissioned at the start of 2017 and the other is scheduled for commissioning in mid 2018, along with further satellite pit developments. The mine is expected to produce above 600koz of gold per annum for the next 10 years with current LoM extending to 2032. Open pit mining started in July 2012 and commissioning of the oxide processing circuit began in Q3 2013. Kibali poured its first gold in September 2013, ahead of plan, and started commercial production
in Q4 2013. Commissioning of the sulphide circuit began early in 2014 and production has steadily ramped-up since then with the mine now consistently exceeding its processing nameplate capacity.

In 2017, Kibali produced 596 225oz of gold at a total cash cost of $773/oz. Gold sales amounted to $754.9 million (100% basis) resulting in a profit from mining activity (before ainterest, tax and depreciation) of $287.7 million.

Achieved in 2017

  • Produced 596 225oz of gold at a total cash cost of $773/oz
  • Completed vertical shaft development
  • Commissioned ore handling (haulage, crushing, hoisting) through shaft
  • Started automation of underground material handling system
  • Continued ramping-up underground ore production
  • Completed UFG and associated circuit expansion
  • Integrated Ambarau hydropower station into power grid
  • Advanced construction of Azambi hydropower station
  • Environmental management system certification updated to latest revision ISO 14001:2015
  • Completed commercial maize trial
  • Supported continued economic development of surrounding community

Targeted in 2018

  • Produce 730 000oz
  • Reduce total cash cost per ounce of production
  • Optimise underground materials handling system
  • Ramp-up underground to full production
  • Complete Azambi, final new hydropower installation and integrate into power grid
  • Reduce LTIFR and malaria incidence rate
  • Maintain ISO 14001 certification
  • Replace reserve depletion

Kibali Gold Mine Key 2017 Results