RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLDPARTNERSHIP BETWEEN PRIVATE AND PUBLIC SECTORS ESSENTIAL FOR AFRICAN GOLD MINING Dakar, Senegal, 12 April 2010 - The development of sustainably profitable gold mining industries in Africa requires a committed long-term partnership between the mining companies, their investors and the governments of their host countries, Randgold Resources chief executive Mark Bristow said here today. Speaking on the first day of the Senegal International Mining Conference, Bristow said while West and Central Africa held great potential for further world-class gold discoveries, the overpromotion of marginal assets by speculators had disappointed many expectations, including those of the host countries."The reality is that driving a mining asset up the value curve is a tough business which takes time - five to ten years - as well as tenacity, expertise and resources. Not many companies can marshal this combination of qualities," he said. Bristow said that, taken as a whole, Africa was no more risky for mining companies than other emerging regions. It did, however, present certain specific challenges, notably in terms of capacity and infrastructure. Governments should diminish these hurdles by providing a physical and regulatory environment which was supportive of mining development."True value creation is a complex, lengthy and integrated process. The mining companies who succeed in Africa have a proper growth strategy and a commitment to the long term. They are not focused on the next quarter's results but have a vision which ranges all the way from realistic feasibility studies to post-mining rehabilitation. Particularly in Africa, with its history of exploitation, success in mining also requires a genuine partnership between companies, their shareholders, and the governments and people of their host countries. This partnership should share a real interest in building capacity and delivering returns. That way it will generate not only sustainably profitable mining businesses but make a meaningful and much-needed contribution to the wider economic welfare of these countries," he said. Randgold Resources discovered and developed the Morila and Loulo mines in Mali and is currently building its third mine at Tongon in the Cote d'Ivoire. It also has advanced projects in Mali and Senegal as well as a 45% stake in Kibali in the Democratic Republic of the Congo, one of Africa's largest undeveloped gold deposits.
RANDGOLD RESOURCES ENQUIRIES: Chief Executive Group General Senegal Country Investor & Media Dr Mark Bristow Manager West Manager Relations +223 6675 0122 Africa David Mbaye Kathy du Plessis +44 788 071 1386 Mahamadou Samake +221 77 638 57 48 +44 20 7557 7738 +223 6675 6136 randgoldresources@dpapr.com Website: www.randgoldresources.comABOUT RANDGOLD: Randgold Resources is an African focused gold mining and exploration company with primary listings on the London Stock Exchange and Nasdaq. Major discoveries to date include the Morila deposit in southern Mali, the Yalea deposit and the Gounkoto deposit, both in western Mali, the Tongon deposit in the Cote d'Ivoire and the Massawa deposit in eastern Senegal. Randgold Resources financed and built the Morila mine which since October 2000 has produced more than 5.5 million ounces of gold and distributed more than US$1.5 billion to stakeholders. It also financed and built the Loulo operation which started as two open pit mines in November 2005. Since then, an underground mine has been developed at the Yalea deposit and construction of a second underground operation is underway at the Gara deposit. First gold production from the company's new mine being developed at Tongon is scheduled for the fourth quarter of 2010. Randgold's current major projects are Gounkoto on the Loulo permit in Mali, Massawa in Senegal and Kibali in the Democratic Republic of the Congo. In 2009 the company acquired a 45% interest in the Kibali project, which now stands at 9.2 million ounces of reserves and is one of the largest undeveloped gold deposits in Africa. Randgold also has an extensive portfolio of organic growth prospects, which is constantly replenished by intensive exploration programmes in Burkina Faso, Cote d'Ivoire, DRC, Mali and Senegal.
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