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Randgold's Kibali mine on track for FY'16 production target despite challenges

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Randgold's Kibali mine on track for FY'16 production target despite challenges

RandgoldResources Ltd. said July 19 that despite the operationalchallenges, its Kibali gold mine in the Democratic Republic of Congo ison track to meet its production target of more than 600,000 ounces this year.

According to CEO Mark Bristow, the complexity of dealingwith multiple ore types from different sources had affected throughput,recovery and grade in the first half of the year.

The management had taken measures to resolve the issue andrevised the mine plan to keep Kibali on track to meet the production target theyear, Bristow added.

Development of the underground mine is on course to becompleted toward the end of 2017, with the commissioning scheduled for July 2017.

The executive, however, cautioned that Kibali is still awork in progress and faced with many challenges as it worked toward itscompletion.

Meanwhile, the company is also focusing on opening twohigh-grade satellite pits in 2016 and 2017 which is anticipated to improveoperational flexibility.

Construction of the Ambarau hydropower station is back ontrack and is expected to start generating electricity in the fourth quarter. Inaddition, work is already underway on Kibali's third hydropower station, Azambi.