Kibali mine on course to start production at end of 2013, says Randgold
By BFN News | 04:22 PM | Monday 16 April, 2012
Production at the Kibali gold mine in the Democratic Republic of Congo is on course to start by the end of 2013, Randgold Resources says.
Randgold and AngloGold Ashanti each have a 45% stake in the project with Congolese parastatal, Sokimo, holding the remaining 10%.
The project - which is expected be one of the largest gold mines in Africa when it is completed - is being developed by Randgold which will also operate the mine.
The completed Kibali operation will comprise an integrated underground and open pit mine, a twin-circuit sulphide and oxide plant with a throughput of 6 million tonnes per annum, and four self-constructed hydropower stations as well as a standby high-speed thermal power generator for back-up during the dry season.
At 4:22pm: (LON:RRS) Randgold Resources share price was +10p at 5575p
Story provided by StockMarketWire.com