Loulo-Gounkoto gold mine complex
The Loulo-Gounkoto complex comprises two distinct mining permits, Loulo and Gounkoto, and is situated in western Mali, bordering Senegal and adjacent to the Falémé River. Société des Mines de Loulo SA (Loulo) owns the Loulo gold mine and Société des Mines de Gounkoto (Gounkoto) owns the Gounkoto gold mine. Both Loulo and Gounkoto are owned by Randgold (80%) and the State of Mali (20%).

OVERVIEW

Production, resources and reserves
LOULO-GOUNKOTO COMPLEX KEY RESULTS

12 months ended 31 December

2015

2014

Mining

 

 

Tonnes mined (000)

31 360

27 025

Ore tonnes mined (000)

4 513

4 539

Milling

 

 

Tonnes processed (000)

4 543

4 396

Head grade milled (g/t)

4.8

5.0

Recovery (%)

90.1

90.2

Ounces produced

630 167

639 219

Ounces sold

630 627

631 124

Average price received ($/oz)

1 148

1 267

Cash operating costs1 ($/oz)

606

597

Total cash costs1 ($/oz)

675

672

Gold on hand at period end2 ($000)

8 133

9 708

Profit from mining activity1 ($000)

298 396

375 293

Gold sales1 ($000)

724 167

799 718

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

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

TARGETED FOR 2016
  • Produce 670 000oz of gold
  • Improve throughput to 4.6Mt
  • Improve recovery to >91%
  • Reduce cash costs per ounce of production
  • Commission two additional medium speed generators
  • Complete upgrade of elution circuit
  • Complete underground refrigeration project
  • Replace ore reserves through ongoing exploration
  • Complete Gounkoto underground versus superpit trade-off feasibility study
  • Maintain ISO 14001 and OHSAS 18001 certification
  • Reduce LTIFR at Loulo
ACHIEVED IN 2015
  • Produced 630 167oz at a total cash cost of $675/oz, in line with the prior year
  • Increased plant availability and throughput
  • Power distribution system stabilised and upgrade project on target for completion in 2017
  • Carbon regeneration kiln installed and elution upgrade project on track for Q1 2016
  • Completed gravity circuit upgrade
  • Successful transition from underground contract mining to owner mining
  • Updated Gounkoto underground feasibility and underground reserves increased to +1Moz
  • Mineral resources grow net of depletion and ore reserve replacement ongoing
  • Updated underground ventilation design completed
  • Gounkoto achieves LTI free year
  • ISO 14001 environmental and OHSAS 18001 health & safety management systems recertified