Delivering value again

Just four years after the acquisition of Kibali, the mine poured its first gold in September 2013 – ahead of schedule and in line with budget. Kibali is the fifth world class mine Randgold has built. And as it takes its place among the world’s great gold mines, Randgold’s exploration teams are hunting for the next big one in Africa’s most prospective gold regions.

Operations and Exploration

Randgold has built its business over 17 years on a consistent long term strategy of creating real value through the discovery of multi-million ounce gold deposits and their development into profitable, world-class mines.

Resources and reserves

Randgold increased its total attributable mineral resources in 2013 despite depletion from mining in a year that delivered record production.

Sustainability report

Randgold’s strategic objective is to benefit all stakeholders – that includes our employees, our shareholders and our host countries and communities.

Directors' reports

A successful world class gold mining company must be led by an effective independent board, with appropriate skills and experience.

Financial statements

2013 was the year that our strategic reviews recognised a fundamental shift in the gold market, well in time for us to adjust our businesses to the downturn in the price

Shareholders’ information

Randgold continues to project a rising production profile over the next five years, with 2013’s big step-up to be followed by an even bigger one of between 24% and 30% this year.

Chief Executive's Overview

In our operations, growth and performance enhancing projects, new mine development, host country partnerships and sustainability programmes, we made substantial progress, delivering on virtually all of our objectives for 2013 and setting the stage for further advances in 2014.

Read the full overview

Forecast Group Consolidated Production

Key numbers

US$000	2013	2012 (Restated)
Gold sales*	1 266 712	1 317 830
Total cash costs*	657 951	583 324
Profit from mining activity*	608 761	734 506
Exploration and corporate expenditure˜	49 485	39 033
Profit for the period	325 747	510 782
Profit attributable to equity shareholders	278 382	431 801
Net cash generated from operations˜	464 466	524 229
Cash and cash equivalents˜	38 151	373 868
Gold on hand at period end^#	-	15 229
Group production* (oz)	910 374	794 844
Group sales* (oz)	920 248	793 852
Group total cash cost per ounce* (US$)	715	735
Group cash operating cost per ounce* (US$)	645	649
Basic earnings per share (US$)	3.02	4.70

Following adoption of IFRS 11 joint Arrangements, the group changed its accounting policy on joint ventures. Refer to page 186 of this annual report for details.

* Refer to explanation of non-GAAP measures provided on page 220 of this annual report. Historically, Randgold consolidated 100% of Loulo, Gounkoto and Tongon, and 40% of Morila and non-GAAP measures remain on this basis and are not affected by the change in accounting policy detailed above. During Q4 2013 Kibali reached commercial production and Randgold has included 45% of Kibali in the consolidated non-GAAP measures.

# Gold on hand represents gold in doré at the mines multiplied by the prevailing spot gold price at the end of the period.

~ Results impacted by change in accounting policy above.

Our guidance

Group consolidated production*

1.13 Moz - 1.20 Moz
Total cash cost of production

US$650/oz - US$700/oz
Capital expenditure*

US$340 million

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Five year KPI's

Group Consolidated Production

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