The Kibali mine development in the Democratic Republic of Congo is the largest project undertaken to date by Randgold. With a reserve base at plus 10 million ounces and still growing, it will rank as one of the largest gold mines in Africa.
The Kibali project is a gold development property which covers an area of 1 836km2 on the Moto Goldfields in the north east of the DRC. It is located some 560 kilometres north east of the city of Kisangani and 150 kilometres west of the Ugandan border town of Arua. Kibali is a joint venture between Randgold (45%), AngloGold Ashanti (45%) and a Congolese parastatal, Sokimo (10%).
The project development is being managed by Randgold which will also operate the mine. It is envisaged that the Kibali mine will comprise an integrated open pit and underground operation with the core capital programme scheduled to run over the next four years. The mine is scheduled for commissioning at the end of 2013. It is anticipated that the project will ultimately be supplied by four hydropower stations supported by a thermal power station for low rainfall periods and back-up.
Kibali Resources and Reserves
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|
Tonnes (Mt) |
Grade (g/t) |
Gold (Moz) |
Attributable gold *** 80% (Moz) |
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|
at 31 December |
Category |
2011 |
2010 |
2011 |
2010 |
2011 |
2010 |
2011 |
2010 |
|
MINERAL RESOURCES* |
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|
|
|
|
Open pit |
Indicated |
78.24 |
74.73 |
2.03 |
2.09 |
5.10 |
5.02 |
2.30 |
2.26 |
|
|
Inferred |
44.13 |
37.78 |
1.82 |
2.27 |
2.58 |
2.76 |
1.16 |
1.24 |
|
Underground |
Indicated |
51.11 |
49.23 |
5.44 |
5.38 |
8.94 |
8.52 |
4.02 |
3.83 |
|
|
Inferred |
19.77 |
20.86 |
3.16 |
3.21 |
2.01 |
2.15 |
0.90 |
0.97 |
|
Total mineral resources |
Indicated Inferred |
129.35 63.90 |
123.96 58.64 |
3.38 2.23 |
3.40 2.60 |
14.04 4.58 |
13.54 4.91 |
6.32 2.06 |
6.09 2.21 |
|
MINERAL RESERVES** |
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|
|
|
|
|
|
|
|
|
Open pit |
Probable |
42.35 |
37.38 |
2.49 |
2.67 |
3.40 |
3.21 |
1.53 |
1.44 |
|
Underground |
Probable |
36.27 |
36.94 |
5.84 |
5.76 |
6.81 |
6.84 |
3.06 |
3.08 |
|
Total mineral reserves |
Probable |
78.62 |
74.32 |
4.04 |
4.21 |
10.21 |
10.05 |
4.59 |
4.52 |
|
* |
Open pit mineral resources are the insitu mineral resources falling within the US$1 500/oz pit shell reported at a cut-off of 0.5g/t. Underground mineral resources are those insitu mineral resources at the KCD deposit that fall below the 5 685 metre RL elevation, reported at a cut-off of 1.5g/t. Mineral resources were generated by Mr Ernest Doh, an officer of the company and competent person. |
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** |
Open pit mineral reserves are reported at a gold price of US$1 000/oz and an average cut-off of 0.9g/t and include dilution and ore loss factors. Open pit mineral reserves were calculated by Mr Onno ten Brinke and Mr Nicholas Coomson, both officers of the company and competent persons. Underground mineral reserves were reported at a gold price of US$1 000/oz and a cut-off of 2.2g/t and include dilution and ore loss factors. Underground mineral reserves were calculated by Mr Andrew Fox and Mr Tim Peters, both independent consultants and competent persons. |
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*** |
Attributable gold (Moz) refers to the quantity attributable to Randgold based on Randgold’s 45% interest in the Kibali gold mine. |
