Randgold Resources: Kibali Mine Ends Year with Improved Performance -- CEO

LONDON--Randgold Resources Ltd.'s (RRS.LN) chief executive said Monday that the Kibali gold mine in the Democratic Republic of Congo has continued its performance improvement in the second half of the year after a tough first half, the company's chief executive said Monday.

Randgold progressed its interests outside the Kibali joint venture during the second half of 2016, with the completion of a regional geophysical survey of the Ngayu belt and the start of follow-up fieldwork at the Moku project adjacent to Kibali, Mark Bristow said in a local media briefing.

With the regional mapping and stream sediment survey now complete, a number of targets with strong mineralization in bedrock have been identified and the focus is now on evaluating and prioritizing the various targets ahead of any drilling campaign, Mr. Bristow said.

The Kibali gold mine is owned by Kibali Goldmines SA which is a joint venture company between Randgold with a 45% stake, AngloGold Ashanti Ltd (ANG.JO) with 45% interest and Société Miniére de Kilo-Moto SA with a 10% stake. The mine was developed and is operated by Randgold.

Randgold shares at 1540 GMT up 100 pence, or 1.4%, at GBP68.10, valuing the company at GBP6.38 billion.

-Write to Razak Musah Baba at [e-mail]; Twitter: @Raztweet

(END) Dow Jones Newswires

January 23, 2017 11:02 ET (16:02 GMT)

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