Annual resource and reserve declaration

at 31 December

 

Tonnes (Mt)

Grade (g/t)

Gold (Moz)

Attributable
gold (Moz)

Mine/project

Category

2016

2015

2016

2015

2016

2015

2016

2015

MINERAL RESOURCES

 

 

 

 

 

 

 

 

Kibali

 

 

 

 

 

 

 

45%

45%

 

Measured

17

10

2.7

2.2

1.5

0.7

0.7

0.3

 

Indicated

118

124

3.2

3.8

12

15

5.5

6.8

Sub total

Measured and indicated

135

134

3.2

3.7

14

16

6.2

7.2

 

Inferred

46

47

2.3

2.5

3.4

3.9

1.5

1.7

Loulo

 

 

 

 

 

 

 

80%

80%

 

Measured

23

18

4.8

4.5

3.6

2.6

2.9

2.1

 

Indicated

30

33

4.5

4.3

4.3

4.5

3.4

3.6

Sub total

Measured and indicated

53

51

4.6

4.4

7.9

7.1

6.3

5.7

 

Inferred

15

20

3.8

3.9

1.9

2.5

1.5

2.0

Gounkoto

 

 

 

 

 

 

 

80%

80%

 

Measured

8.0

5.0

3.7

2.9

1.0

0.5

0.8

0.4

 

Indicated

21

25

4.3

4.7

3.0

3.7

2.4

3.0

Sub total

Measured and indicated

29

30

4.2

4.4

3.9

4.2

3.1

3.3

 

Inferred

4.2

5.3

3.1

3.1

0.4

0.5

0.3

0.4

Morila

 

 

 

 

 

 

 

40%

40%

 

Indicated

22

23

0.6

0.5

0.4

0.4

0.2

0.2

Sub total

Measured and indicated

22

23

0.6

0.5

0.4

0.4

0.2

0.2

 

Inferred

0.9

1.8

0.4

0.6

0.01

0.03

0.01

0.01

Tongon

 

 

 

 

 

 

 

89.7%

89%

 

Measured

8.0

8.8

2.4

2.7

0.6

0.8

0.6

0.7

 

Indicated

15

22

2.6

2.6

1.3

1.8

1.1

1.6

Sub total

Measured and indicated

23

30

2.5

2.6

1.9

2.6

1.7

2.3

 

Inferred

13

12

2.8

2.8

1.1

1.1

1.0

1.0

Massawa

 

 

 

 

 

 

 

83.25%

83%

 

Measured

0.5

0.2

5.5

5.1

0.1

0.03

0.1

0.03

 

Indicated

19

35

4.0

2.6

2.5

2.9

2.0

2.4

Sub total

Measured  and indicated

20

35

4.0

2.6

2.6

3.0

2.1

2.5

 

Inferred

21

23

2.7

2.5

1.8

1.8

1.5

1.5

TOTAL  MINERAL RESOURCES

Measured and indicated

282

304

3.4

3.4

30

33

20

21

Inferred

100

110

2.7

2.8

8.6

9.9

5.9

6.7

ORE RESERVES

 

 

 

 

 

 

 

 

Kibali

 

 

 

 

 

 

 

45%

45%

 

Proved

4.3

4.0

1.9

1.8

0.3

0.2

0.1

0.1

 

Probable

66

76

4.2

4.3

8.9

10

4.0

4.7

Sub total

Proved and probable

71

80

4.0

4.1

9.2

11

4.1

4.8

Loulo

 

 

 

 

 

 

 

80%

80%

 

Proved

14

8.6

4.7

4.5

2.1

1.2

1.7

1.0

 

Probable

23

23

4.3

4.7

3.1

3.4

2.5

2.7

Sub total

Proved and probable

37

32

4.5

4.6

5.3

4.7

4.2

3.7

Gounkoto

 

 

 

 

 

 

 

80%

80%

 

Proved

6.8

4.1

3.9

3.1

0.9

0.4

0.7

0.3

 

Probable

15

16

4.9

5.2

2.3

2.7

1.8

2.2

Sub total

Proved and probable

21

20

4.6

4.8

3.1

3.1

2.5

2.5

Morila

 

 

 

 

 

 

 

40%

40%

 

Probable

15

15

0.5

0.6

0.3

0.3

0.1

0.1

Sub total

Proved and probable

15

15

0.5

0.6

0.3

0.3

0.1

0.1

Tongon

 

 

 

 

 

 

 

89.7%

89%

 

Proved

7.5

8.2

2.2

2.3

0.5

0.6

0.5

0.5

 

Probable

12

18

2.5

2.4

0.9

1.4

0.8

1.3

Sub total

Proved and probable

19

26

2.4

2.4

1.5

2.0

1.3

1.8

Massawa

 

 

 

 

 

 

 

83.25%

83%

 

Probable

19

21

4.3

3.1

2.6

2.0

2.2

1.7

Sub total

Proved and probable

19

21

4.3

3.1

2.6

2.0

2.2

1.7

TOTAL ORE RESERVES

Proved and probable

182

194

3.7

3.6

22

23

14

15

NOTES TO THE ANNUAL RESOURCE AND RESERVE DECLARATION Randgold reports its mineral resources and mineral reserves in accordance with the JORC 2012 code and as such 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 Industry Guide 7. All mineral resource tabulations are reported inclusive of that material which is then modified to form ore reserves. 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 proved 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 ‘proved and probable reserves’ for the purposes of the SEC’s Industry Guide number 7. See glossary of terms on website at www.randgoldresources.com.