Kibali gold mine’s start-up has signalled potential for long-term value creation in DRC, says Randgold Resources.
The new Kibali gold mine, which started production last month, could be the catalyst for substantial long-term value creation in the Democratic Republic of Congo if it is handled correctly by all its stakeholders.
Randgold has developed and is operating the mine, which will be one of the largest of its kind in Africa, and has a 45% interest in it, with AngloGold Ashanti also owning 45% and the Congolese parastatal Sokimo holding the balance.
Randgold Resources chief executive Mark Bristow said despite some apprehension in the market about the wisdom of attempting such a giant project in this region, Kibali had been brought into production ahead of schedule and within budget.
“We were able to prove the sceptics wrong because all the stakeholders – notably the Congolese government and people – wanted this mine, and cooperated energetically to bring it into being. The next challenge is to continue our partnership in this spirit, and to work together to make Kibali successful, so that it can serve as a foundation for building general economic welfare in this region,” he said.