Randgold Resources Ld Mali Mines power ahead (1912M)
July 26 2017 - 1:00PM
UK Regulatory
TIDMRRS
RNS Number : 1912M
Randgold Resources Ld
26 July 2017
RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
MALI MINES POWER AHEAD AND NEW PROJECT SECURES PRODUCTION
PROFILE
Bamako, Mali, 26 July 2017 - Randgold Resources' operations in
Mali are continuing to deliver a robust performance and the
company's recent decision to proceed with the development of a
super pit at Loulo-Gounkoto underpins the group's commitment to the
country's mining industry, chief executive Mark Bristow said
today.
Speaking at a media briefing here, Bristow said ongoing
exploration success within the Loulo and Gounkoto permits had
enabled it to replace all the gold depleted by mining last year and
was continuing to deliver additional reserves and resources.
Preparation work was also underway on the Gounkoto super pit, which
would further strengthen the complex's position as a long-life
producer with an annual output of at least 600 000 ounces.
At Morila, meanwhile, all the permitting for the development of
the Domba satellite has been completed after two years of community
consultation, and mining there is scheduled to start in September
this year. Morila has also agreed to acquire portions of Birimian's
Ntiola and Viper permits which, together with Domba, will extend
its life to the end of 2019 and possibly to early 2020.
The significance of these developments, Bristow said, was that
they would secure Morila's ability to fund its eventual closure and
support the funding of its post-mining incarnation as an
agribusiness centre, with the objective of being part of the
government's plan to strengthen the agricultural base of its
economy.
Bristow said while there were a number of new mines in the
Malian pipeline, the future of the country's gold mining industry
depended on successful exploration for the next generation of
discoveries and their ability to attract the necessary
investment.
"The question is whether the country's existing mining code and
fiscal regime are sufficiently attractive to foreign investors. The
industry and the government, led by the minister of mines, have had
a very constructive engagement on this and other issues - such as
the destructive impact of illegal mining - and we've agreed to work
together to find mutually acceptable solutions," he said.
"As far as Randgold's disputed tax claims are concerned, we're
continuing our discussions with the authorities and are hopeful
that we will be able to reach an amicable solution on the
outstanding files instead of another round of arbitration
proceedings. We've had a long and mutually rewarding partnership
with Mali and its people - depending on the gold price, Randgold
accounts for between 6% and 10% of the country's GDP each year -
and it's obviously in both our interests to resolve this matter
equitably."
ENQUIRIES:
Chief Executive Financial Director Group Regional Investor & Media
Mark Bristow Graham Shuttleworth Manager West Relations
+44 788 +44 779 771 Africa Kathy du Plessis
071 1386 1338 Mahamadou Samaké +44 20 7557
+223 66 +223 66 75 7738
75 01 22 61 36 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
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