outperform recomendation, page-76

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Robleeway

655 Posts.

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10/02/17

10:47

Post #: 22511168
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Originally posted by Haplo ↑

Perhaps it would be best to direct your your question directly to Randgold and ask them how they maintain their Kibali mine in that country. They seem to be doing ok with the mine operation and the US$ 2.5 billion investment from their partners.

http://www.randgoldresources.com/kibali-gold-mine

Kibali comprises 10 permits covering an area of about 1 836km² in the Moto goldfields of the north east DRC, 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.

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They have been there a couple of years. As long as they remain in favour with the kleptocracy they will be fine, but not a moment longer. Time will tell.

AVZ Price at posting: 3.1¢ Sentiment: None Disclosure: Not Held
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