27th Jul 2007 12:00
Randgold Resources Ld27 July 2007 RANDGOLD RESOURCES LIMITEDIncorporated in Jersey, Channel IslandsReg. No. 62686LSE Trading Symbol: RRSNasdaq Trading Symbol: GOLD FOUR MINES IN ONE AT LOULO Loulo, Mali, 27 July 2007 - Randgold Resources' Loulo complex in western Malicould become the focal point of a major new goldfield, chief executive MarkBristow said today. The company - which ranks as one of the gold mining industry's mostsuccessful explorers - regards the Loulo district as having enormous potentialfor 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. Wehave aggressive drilling programmes in place at the moment not only to expandthe known orebodies at Loulo but also to explore other targets such as Farabaand 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 themeantime, development of an underground mine at Yalea has progressed rapidly andthis mine is due to deliver its first ore to the Loulo plant in the last quarterof this year. The second underground mine, Gara, is at an advanced planningstage. "Loulo is in fact four mines in one - the first underground operation at Yaleawill be in full production by 2009 and the development of the Gara undergroundmine starts in the same year. So here we have a truly world class mine complexwith gold production forecast to peak at above 400 000 ounces per year and alife extending beyond 2020. Total resources at present stand at more than 11million ounces and we are confident that this will be increased through ongoingexploration," Bristow said. Bristow noted that the company was committed to the sustainability of itsbusiness and that sustainability in turn required close cooperation with thegovernments and people of the countries where the company operates and plans tooperate. "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. Itis the strength of this partnership that gave us the confidence to investfurther 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 citizenof the countries in which we operate, we are very sensitive to the needs of thecommunity and the environment. A percentage of Loulo's profits, for example, isallocated to community development projects, identified in conjunction withcommunity representatives." Bristow said the company also placed great emphasis on the training andadvancement of Malian nationals. Reflecting this policy, Loulo general managerAmadou Konta is the first Malian to head a major mine and his team includesseveral other senior Malian managers who have achieved promotions during the tenyears that Randgold Resources has been operating in Mali. RANDGOLD RESOURCES ENQUIRIES:Chief Executive Loulo General Manager Investor & Media RelationsDr 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 [email protected] Website: www.randgoldresources.com DISCLAIMER: Statements made in this document with respect to Randgold Resources'current plans, estimates, strategies and beliefs and other statements that arenot historical facts are forward-looking statements about the future performanceof Randgold Resources. These statements are based on management's assumptionsand beliefs in light of the information currently available to it. RandgoldResources cautions you that a number of important risks and uncertainties couldcause actual results to differ materially from those discussed in theforward-looking statements, and therefore you should not place undue reliance onthem. The potential risks and uncertainties include, among others, risksassociated with: fluctuations in the market price of gold, gold production atMorila, the development of Loulo and estimates of resources, reserves and minelife. For a discussion on such risk factors refer to the annual report on Form20-F for the year ended 31 December 2006 which was filed with the United StatesSecurities and Exchange Commission (the 'SEC') on 25 June 2007. RandgoldResources sees no obligation to update information in this release. Cautionarynote to US investors: the 'SEC' permits companies, in their filings with the 'SEC', to disclose only proven and probable ore reserves. We use certain termsin this release, such as "resources", that the 'SEC' does not recognise andstrictly prohibits us from including in our filings with the 'SEC'. Investorsare cautioned not to assume that all or any parts of our resources will ever beconverted into reserves which qualify as 'proven and probable reserves' for thepurposes of the SEC's Industry Guide number 7. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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