Annual resource and reserve declaration

at 31 December

 

Tonnes
(Mt)

Grade
(g/t)

Gold
(Moz)

Attributable
gold (Moz)

Mine/project

Category

2015

2014

2015

2014

2015

2014

2015

2014

MINERAL RESOURCES

               

Kibali

             

45%

45%

 

Measured

10

8.1

2.2

1.9

0.7

0.5

0.3

0.2

 

Indicated

124

130

3.8

3.8

15

16

6.8

7.2

Sub total

Measured and indicated

Inferred

134

47

139

53

3.7

2.5

3.7

2.6

16

3.9

16

4.4

7.2

1.7

7.4

2.0

Loulo

             

80%

80%

 

Measured

Indicated

18

33

15

36

4.5

4.3

3.8

4.5

2.6

4.5

1.9

5.2

2.1

3.6

1.5

4.2

Sub total

Measured and indicated

Inferred

51

20

52

20

4.4

3.9

4.3

3.2

7.1

2.5

7.1

2.1

5.7

2.0

5.7

1.7

Gounkoto

             

80%

80%

 

Measured

Indicated

5.0

25

5.5

22

2.9

4.7

3.6

4.4

0.5

3.7

0.6

3.2

0.4

3.0

0.5

2.5

Sub total

Measured and indicated

Inferred

30

5.3

28

7.5

4.4

3.1

4.3

3.2

4.2

0.5

3.8

0.8

3.3

0.4

3.0

0.6

Morila

             

40%

40%

 

Measured

-

0.02

-

4.0

-

0.003

-

0.001

 

Indicated

23

14

0.5

0.6

0.4

0.3

0.2

0.1

Sub total

Measured and indicated

Inferred

23

1.8

14

11

0.5

0.6

0.6

0.6

0.4

0.03

0.3

0.2

0.2

0.01

0.1

0.1

Tongon

             

89%

89%

 

Measured

Indicated

8.8

22

6.8

27

2.7

2.6

2.3

2.6

0.8

1.8

0.5

2.2

0.7

1.6

0.5

2.0

Sub total

Measured and indicated

Inferred

30

12

34

12

2.6

2.8

2.5

2.7

2.6

1.1

2.7

1.0

2.3

1.0

2.4

0.9

Massawa

             

83%

83%

 

Measured

0.2

0.2

5.1

5.1

0.03

0.03

0.03

0.03

 

Indicated

35

35

2.6

2.6

2.9

2.9

2.4

2.4

Sub total

Measured and indicated

Inferred

35

23

35

24

2.6

2.5

2.6

2.1

3.0

1.8

3.0

1.7

2.5

1.5

2.5

1.4

TOTAL MINERAL RESOURCES

Measured and indicated

Inferred

304

110

301

128

3.4

2.8

3.4

2.5

33

10

33

10

21

6.7

21

6.6

ORE RESERVES

               

Kibali

             

45%

45%

 

Proven

4.0

5.4

1.8

1.8

0.2

0.3

0.1

0.1

 

Probable

76

78

4.3

4.3

10

11

4.7

4.8

Sub total

Proven and probable

80

83

4.1

4.1

11

11

4.8

4.9

Loulo

             

80%

80%

 

Proven

Probable

8.6

23

2.2

31

4.5

4.7

1.8

4.8

0.2

3.4

0.1

4.7

0.1

2.7

0.1

3.8

Sub total

Proven and probable

32

33

4.6

4.6

4.7

4.9

3.7

3.9

Gounkoto

             

80%

80%

 

Proven

Probable

4.1

16

4.4

18

3.1

5.2

3.8

4.6

0.4

2.7

0.5

2.6

0.3

2.2

0.4

2.1

Sub total

Proven and probable

20

22

4.8

4.4

3.1

3.2

2.5

2.5

Morila

             

40%

40%

 

Proven

Probable

-

15

0.02

13

-

0.6

4.0

0.7

-

0.3

0.003

0.3

-

0.1

0.001

0.1

Sub total

Proven and probable

15

13

0.6

0.7

0.3

0.3

0.1

0.1

Tongon

             

89%

89%

 

Proven

Probable

8.2

18

7.1

23

2.3

2.4

2.2

2.4

0.6

1.4

0.5

1.7

0.5

1.3

0.4

1.5

Sub total

Proven and probable

26

30

2.4

2.3

2.0

2.2

1.8

2.0

Massawa

             

83%

83%

 

Proven

Probable

 

21

 

21

 

3.1

 

3.1

 

2.0

 

2.0

 

1.7

 

1.7

Sub total

Proven and probable

21

21

3.1

3.1

2.0

2.0

1.7

1.7

TOTAL ORE RESERVES

Proven and probable

194

201

3.6

3.6

23

24

15

15

Randgold reports its mineral resources and ore reserves in accordance with the JORC 2012 code and as such numbers are reported to the second significant digit.

Reporting standards are equivalent to National Instrument 43-101.

The reporting of mineral resources is based on a gold price of $1 500/oz. The reporting of ore reserves is also in accordance with SEC Industry Guide 7. Reserve pit optimisations are carried out at a gold price of $1 000/oz for all pits. Underground ore reserves are also based on a gold price of $1 000/oz. Dilution and ore loss are incorporated into the calculation of reserves.

Cautionary note to US investors: The United States Securities and Exchange Commission (the ‘SEC’) permits mining companies, in their filings with the SEC, to disclose only proven and probable ore reserves. Randgold uses certain terms in this annual report such as ‘resources’, that the SEC does not recognise and strictly prohibits the company from including in its filings with the SEC. Investors are cautioned not to assume that all or any parts of the company’s resources will ever be converted into reserves which qualify as ‘proven and probable reserves’ for the purposes of the SEC’s Industry Guide number 7.

See glossary of terms on website at www.randgoldresources.com.