The Tongon mine is located within the Nielle exploration permit in the north of Côte d’lvoire, 55 kilometres south of the border with Mali. Tongon SA is owned by an Ivorian company, Société des Mines de Tongon SA, of which Randgold has an 89% interest, the government of Côte d’lvoire 10% and 1% is held by a local company.
Tongon is an open pit mining operation and employs the four standard mining practices of drill, blast, load and haul. The mine has an initial mine life of 10 years but has the potential to extend this with nearby discoveries and satellite pits. Two of these satellite pits, adjacent to the existing SZ and NZ pits, have been introduced into the 2012 LOM plan. The LOM schedule is as follows:
SZ pit, where mining started in 2010, will be mined until 2016 to the final pit bottom.
NZ pit, where mining started in 2011, will not be mined in 2012. Mining will resume in 2013 (waste stripping), with ore mining continuing from 2014 to 2019.
The SZ extension and NZ extension satellite pits have been introduced into the plan and will be mined from 2019 to 2021.
Tongon Resources and Reserves
|Tonnes (Mt)||Grade (g/t)||Gold (Moz)||Attributable gold
|at 31 December||Category||2011||2010||2011||2010||2011||2010||2011||2010|
|Total mineral resources||Measured and Indicated||36.43||37.26||2.67||2.75||3.12||3.29||2.78||2.93|
|Total mineral reserves||Proven and probable||33.10||37.11||2.60||2.46||2.77||2.94||2.46||2.62|
Open pit mineral resources are the insitu mineral resources falling within the US$1 500/oz pit shell reported at a 0.5g/t cut-off. Underground mineral resources are those insitu mineral resources below the NZ US$1 500/oz pit shell reported at a 2.0g/t cut-off. Mineral resources were generated by Mr Babacar Diouf and Mr Mamadou Ly, both officers of the company, and supervised of Mr Jonathan Kleynhans, an officer of the company and competent person.
|**||Open pit mineral reserves are reported at a gold price of US$1 000/oz and 1.39g/t cut-off and include dilution and ore loss factors. NZ open pit mineral reserves were calculated by Mr Samuel Baffoe, an officer of the company, under the supervision of Mr Onno ten Brinke, an officer of the company and competent person. SZ open pit mineral reserves were calculated by Mr Nick Kingaby, an external consultant and competent person.|
|***||Attributable gold (Moz) refers to the quantity attributable to Randgold based on Randgold’s 89% interest in the Tongon gold mine.|