Home Business Gold miners open $2.5bn Kibali Mine in DR Congo

Gold miners open $2.5bn Kibali Mine in DR Congo


A joint venture comprising JSE-listed gold miners, Randgold Resources and Anglogold Ashanti and Congolese government, officially launched the $2,5 billion mine in the northeast section of DR Congo (DRC).
According to AFP, the Kibali Mine, as the mine is known, started operating late last year and has already created 7000 job opportunities for the Congolese.
The mine has a 17-year lifespan with 15.6 tonnes likely to be generated in 2014, AFP reported Kibali Goldmines, as the joint venture is known, as having said.
Kibali Goldmines is 45 percent owned by Randgold Resources and AngloGold Ashanti has 45 percent shareholding. The remaining 10 percent interest is held by the Congolese government.
The minerals rich east past of the Congo has been plagued by endemic violence for a while now. It is believed that the source of this violence is the minerals like gold that are found underground in that part of the country.
AngloGold Ashanti is an international gold mining and exploration firm with an assorted portfolio of mining activities.
With head offices in Johannesburg, South Africa, AngloGold Ashanti has 21 operations in 11 countries. Two new mines, Tropicana in Australia and Kibali in the DRC began production in late 2013.
Randgold Resources is an Africa- focused gold mining and exploration firm. It is listed on the London Stock Exchange (LSE) and NASDAQ. (VENTURES AFRICA)

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