Rand gold: gold processing plant two years earlier than thought

October 13, 2011 8:14 AM26 commentsViews: 41

Rand gold: gold processing plant two years earlier than thought

As the British gold producer announced with its regional focus on Africa recently, to get ahead in the Congo and can therefore streamline the class schedule for the local mega-project.

In the not very politically stable country, the British run together with AngloGold Ashanti and the local state enterprises Sokimo the Kibali deposit that had been purchased about two years ago. The development of the project envisages the construction of a gold-processing plant, the company reportedly is scheduled for completion in the fourth quarter of 2013. So far it was assumed that it will take two years longer.

One of the biggest mines in Africa

That in the Congo is progressing so quickly, naturally has a good reason. Finally, we want to build with the Kibali deposit one of the largest African mines at all. Against this background, it costs an estimated $ 1.4 billion are reasonable.

For Randgold it is of course a great thing, if the processing plant two years earlier than planned to be launched. Still, given the prices will continue to be influenced mainly by the price of gold and the general market environment.

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