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Randgold Resources Ltd (RRS.LN), said Friday the development of its new gold mine at Tongon in the Cote d'Ivoire is on track for first production in the fourth quarter of 2010.

MAIN FACTS:

-Work on site had stepped up a gear with the start of the major civil programmes for the process plant.

-Excavation has been completed and some 1 000 million3 of a project total of 27 000 million3 of concrete has already been poured.

-Mechanical work on the CIL tank assembly has started and the earthworks are also progressing with the completion of the first phase of the main water storage dam.

-The dam when completed, will have a capacity of 24 million m3 and supply the mine's total water requirement. At its current stage of development, it holds more than enough water for construction purposes and the mine's start-up phase.

-Logistics are running on schedule through the port of Abidjan with 83 containers and 87 break bulk packs from an approximate project total of 1 000 having already arrived on site.

-Tongon is now a plus 3 million ounce deposit, and continuing exploration is focused on expanding its resource base further.

 
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com