Randgold Resources is an African focused gold mining and exploration company with listings on the London Stock Exchange and NASDAQ.
Major discoveries to date include the 7.5 million ounce Morila deposit in southern Mali, the 7 million ounce Yalea deposit and the 5.5 million ounce Gounkoto deposit, both in western Mali, the 4 million ounce Tongon deposit in the Côte d’Ivoire and the 3 million ounce Massawa deposit in eastern Senegal. Randgold financed and built the Morila mine which, since October 2000, has produced more than 6 million ounces of gold and distributed more than US$2 billion to stakeholders. It also financed and built the Loulo operation which started as two open pit mines in November 2005. Since then, two underground mines have been developed at the Yalea and Gara deposits.
The company’s Tongon mine in Côte d’Ivoire poured its first gold in November 2010. Randgold’s latest mine, Gounkoto, south of Loulo, delivered first ore to the Loulo plant in June 2011 and paid its first dividends to shareholders in mid 2012 and the second in November.
In 2009, the company acquired a 45% interest in the Kibali project in the Democratic Republic of Congo (DRC), which stands at 10.9 million ounces of mineral reserves and is one of the largest undeveloped gold deposits in Africa. Open pit mining has started at Kibali and construction of the gold mine has been ramped up for expected fourth quarter 2013 first gold production, while underground mine development has also begun. The first full year of production is planned for 2014. Randgold also has a major project at Massawa in Senegal and an extensive portfolio of organic growth prospects, supported by intensive exploration programmes in Burkina Faso, Côte d’Ivoire, DRC, Mali and Senegal. A new joint venture with Kilo Goldmines Limited has extended Randgold’s footprint in the DRC.