Randgold's (GOLD) Loulo Complex Increases Gold Production in FY11

A robust contribution from the new Gounkoto mine enhanced the capacity and flexibility of Randgold Resources' (Nasdaq: GOLD) Loulo complex to increase gold production in 2011 despite the substantial challenges presented by the development of two underground mines and the plant expansion.

Gounkoto accounted for a significant part of the complex's annual production, giving Loulo the capacity to grow overall output while getting its Yalea underground mine on track and pressing ahead with the Gara underground development. Because it accesses the Loulo infrastructure on a toll basis, Gounkoto is expected to recoup its relatively low capital cost by the end of the first quarter of 2012. This means among other things that the State of Mali, a 20% shareholder, will get the benefit of an early dividend as well as full ownership of its stake.

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