Information  X 
Enter a valid email address

Randgold Resources (RRS)

  Print      Mail a friend       Annual reports

Friday 27 July, 2007

Randgold Resources

Four mines in one at Loulo

Randgold Resources Ld
27 July 2007

Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD


Loulo, Mali, 27 July 2007  -  Randgold Resources' Loulo complex in western Mali
could become the focal point of a major new goldfield, chief executive Mark
Bristow said today.

The company  -  which ranks as one of the gold mining industry's  most
successful explorers  -  regards the Loulo district as having enormous potential
for significant new gold deposit discoveries in Africa, and perhaps the world,
Bristow told journalists at an open day at the mine.

'That is why we have built up a substantial groundholding in the region.  We
have aggressive drilling programmes in place at the moment not only to expand
the known orebodies at Loulo but also to explore other targets such as Faraba
and Baboto,' he said.

Following last year's successful commissioning of the hard rock crusher,
production at Loulo on hard ore has been stepped up to full capacity. In the
meantime, development of an underground mine at Yalea has progressed rapidly and
this mine is due to deliver its first ore to the Loulo plant in the last quarter
of this year.  The second underground mine, Gara, is at an advanced planning

'Loulo is in fact four mines in one  -  the first underground operation at Yalea
will be in full production by 2009 and the development of the Gara underground
mine starts in the same year.  So here we have a truly world class mine complex
with gold production forecast to peak at above 400 000 ounces per year and a
life extending beyond 2020.  Total resources at present stand at more than 11
million ounces and we are confident that this will be increased through ongoing
exploration,' Bristow said.

Bristow noted that the company was committed to the sustainability of its
business and that sustainability in turn required close cooperation with the
governments and people of the countries where the company operates and plans to

'We have a particularly productive relationship with the government of Mali,
which is one of our partners in the Morila mine and also owns 20% of Loulo.  It
is the strength of this partnership that gave us the confidence to invest
further in the development of the two underground projects at Loulo,' he said.

'Because we strive to be not only a successful business but also a good citizen
of the countries in which we operate, we are very sensitive to the needs of the
community and the environment.  A percentage of Loulo's profits, for example, is
allocated to community development projects, identified in conjunction with
community representatives.'

Bristow said the company also placed great emphasis on the training and
advancement of Malian nationals.  Reflecting this policy, Loulo general manager
Amadou Konta is the first Malian to head a major mine and his team includes
several other senior Malian managers who have achieved promotions during the ten
years that Randgold Resources has been operating in Mali.

Chief Executive              Loulo General Manager             Investor & Media Relations
Dr Mark Bristow              Amadou Konta                      Kathy du Plessis
+223 675 0122                +223 674 4831                     +27 11 728 4701
+44 788 071 1386                                               Cell: +27 83 266 5847
+44 779 775 2288                                     


DISCLAIMER: Statements made in this document with respect to Randgold Resources'
current plans, estimates, strategies and beliefs and other statements that are
not historical facts are forward-looking statements about the future performance
of Randgold Resources.  These statements are based on management's assumptions
and beliefs in light of the information currently available to it.  Randgold
Resources cautions you that a number of important risks and uncertainties could
cause actual results to differ materially from those discussed in the
forward-looking statements, and therefore you should not place undue reliance on
them.  The potential risks and uncertainties include, among others, risks
associated with: fluctuations in the market price of gold, gold production at
Morila, the development of Loulo and estimates of resources, reserves and mine
life.  For a discussion on such risk factors refer to the annual report on Form
20-F for the year ended 31 December 2006 which was filed with the United States
Securities and Exchange Commission (the 'SEC') on 25 June 2007.  Randgold
Resources sees no obligation to update information in this release.  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