Kibali gold mine

The Kibali gold mine is located in the northeast of the Democratic Republic of Congo (DRC), approximately 560 kilometres north east of the capital of the Orientale province, Kisangani, 150 kilometres west of the Ugandan border town of Arua and 1 800 kilometres from the Kenyan port of Mombasa. The Kibali gold mine is owned by Kibali Goldmines SA (Kibali) which is a joint venture company between Randgold (45%), AngloGold Ashanti (45%) and Société Miniére de Kilo-Moto SA (SOKIMO) (10%). The mine was developed and is operated by Randgold.

OVERVIEW

Production, resources and reserves
KIBALI KEY RESULTS

12 months ended 31 December

2015

2014

Mining

 

 

Tonnes mined (000)

31 170

30 470

Ore tonnes mined (000)

6 862

5 632

Milling

 

 

Tonnes processed (000)

6 833

5 568

Head grade milled (g/t)

3.5

3.7

Recovery (%)

83.8

79.3

Ounces produced

642 720

526 627

Ounces sold

643 976

516 902

Average price received ($/oz)

1 160

1 258

Cash operating costs1 ($/oz)

557

528

Total cash costs1 ($/oz)

604

573

Profit from mining activity1 ($000)

358 184

354 220

Attributable (45%)

 

 

Gold sales1 ($000)

336 272

292 627

Ounces produced

289 224

236 982

Ounces sold

289 789

232 606

Gold on hand at period end2 ($000)

4 006

5 248

Profit from mining activity1 ($000)

161 183

159 399

Randgold owns 45% of Kibali with the DRC State and joint venture partner owning 10% and 45% respectively.  The group equity accounts for its 45% joint venture holding in Kibali.

1        Refer to explanation of non-GAAP measures provided on page F-34 of this annual report.

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

ACHIEVED IN 2015
  • Produced 642 720oz, 7% above target, at a total cash cost of $604/oz
  • Maintained underground decline development on schedule
  • Completed shaft sinking ahead of schedule and started with equipping
  • Commenced mining from the Mengu Hill open pit
  • Commenced preparation for mining of Pakaka open pit
  • Underground ore production ramped up on schedule to 100 000t/month by year end
  • Backfill plant commissioned on schedule and operating above design specification
  • Continued improvement in mill throughput reaching design specification
  • Malaria incident rate reduced by 46% year on year
  • Recommended for ISO 14001 environmental management system certification
  • $2 million direct contribution to community development with $1 million on local economic development projects
  • More than $1 billion spent with Congolese suppliers and contractors project to date
TARGETED FOR 2016
  • Produce 610 000oz of gold
  • Maintain decline development schedule on target
  • Maintain shaft equipping and off shaft development on schedule
  • Continue to ramp up underground ore production
  • Commence mining at Pakaka open pit
  • Commission Ambarau hydropower station
  • Advance construction of Azambi hydropower station
  • Obtain ISO 45001 health and safety certification
  • Maintain ISO14001 certification
  • Reduce LTIFR
  • Commence macro agribusiness project