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Investing in Cote d’Ivoire’s future…Abidjan, July 2017
Randgold Resources…operations across Africa
Mali
Côted’Ivoire
Senegal
Democratic Republic of Congo
Massawa Feasibility Project, SenegalEquity 83%Total Reserves 2.6MozTotal Resources 4.4Moz
Loulo-Gounkoto Mine Complex, MaliEquity 80%Loulo:Total reserves 5.3MozTotal resources 9.8MozGounkoto:Total reserves 3.1MozTotal resources 4.3MozLoulo-Gounkoto2016 production 707 116oz
Morila Gold MineMaliEquity 40%Total reserves 0.3MozTotal resources 0.4Moz2016 production 54 022oz
Kibali Gold MineDRCEquity 45%Total reserves 9.2MozTotal resources 17.4Moz2016 production 585 946oz
Reserves and resources as at 31 Dec 2016
Tongon Gold MineCôte d’IvoireEquity 89%Total reserves 1.5MozTotal resources 3.0Moz2016 production 260 556oz
History of Randgold in Ivory Coast
1996 2001 2002 2007
2012
2008
2008
2010
20102010
Aug 2012
2011
Nominated best mine in Côte d’Ivoire
2011
20142012
2010
ISO14001 Certification
2012
2013 2015Nominated best mine in Côte d’Ivoire
2015Tongon Mine pays off its
shareholders loan
Randgold returns and commences 30 000m
drilling programme
Acquired Nielle exploration permit
Finalised prefeasibility study
Total resource 2.9MOz@2.6g/t
Force Majeure declared –
exploration office closed
Reserve increased by
26% to 3.16Moz @
2.57g/t
First ore fed to Mill 1
on oxide ore
Mill 2 commissioned on oxide ore
Mine officially opened by president
Grid power switched on
Production continued as political crisis escalated
First gold poured
Mine construction
started
Oxygen plant upgraded from
20-30tpd
Additionalgensets
commissioned
OHSAS18001 certification
Tongon Mine declares and
pays first dividend
2016
Tongon Mine…Randgold’s history in Côte d’Ivoire
Tongon…safety, health and environment
Zero Class 1 or major environmental incidents
Tongon continued to manage water effectively with over 90% reduction in fresh water usage
Water management system in place with prioritized reuse of process water
Wetland management system being conducted to assist in the reduction of nitrates, arsenic and sediments from the pit
Project implemented on site to capture arsenic in the tailings
EnvironmentHealth and SafetyLTIFR increased to 2.48 – 3 injuries sustained by contractor
Tongon remains ISO 14001 and OHSAS 18001 certified
4 people trained in Occupational Hygiene at the workplace during the quarter
59 supervisors trained in Supervising Safely by RRC, IOSH UK
Tongon in partnership program with the IDEAL NGO continues to effectively manage public health (Malaria and HIV / AIDS) through prevention programmes on the mine and in surrounding community
Malaria incident rate continues to decrease
0
1
2
3
LTIFR
0
50
100
150 Malaria incident rate 2010-2017
0,0
0,5
1,0
1,5
Fresh water used - m³/t
Tongon operating results…
Refer to Q1 2017 quarterly report for footnotes
12 monthsQuarter31 Mar
201731 Dec
201631 Mar
201631 Dec
201631 Dec
2015Mining
Tonnes mined (000) 5 449 6 141 7 835 27 547 28 826
Ore tonnes mined (000) 1 146 1 162 910 4 195 3 563
Milling
Tonnes processed (000) 1 033 1 121 975 3 853 4 018
Head grade milled (g/t) 2.4 2.8 2.1 2.5 2.3
Recovery (%) 83.7 84.7 81.8 83.7 82.6
Ounces produced 67 220 84 856 54 122 260 556 242 948
Ounces sold 72 673 82 811 55 273 255 942 241 478
Average price received ($/oz) 1 227 1 202 1 189 1 247 1 148
Cash operating costs1 ($/oz) 592 587 865 734 801
Total cash costs1 ($/oz) 629 623 900 771 836
Gold on hand at period end2 ($000) 804 7 070 412 7 070 1 576
Profit from mining activity1 ($000) 43 514 47 909 15 934 121 847 75 444
Gold sales1 ($000) 89 205 99 533 65 698 319 249 277 253
Tongon performance imperatives…action steps
Ramp up tonnage throughput to targeted 4.5mtpa (key to achieving LOM ounce profile) by optimising total crushing circuit, inclusive of the quaternary circuit
On track to achieve market guidance of 285koz in 2017 at total cash cost of below $700/oz
Optimise rougher flotation operation to improve recovery - install 4th flotation rougher cell in Q4 2017
Upgrade oxygen plant capacity with additional 20tpd oxygen to facilitate recovery improvement
Complete the power supply busbar reconfiguration and capacitator installation to improve power supply stability
Maintain and improve community relations, communication and social development, skills upgrading
Find additional resources and reserves to replace depletion and extend LOM
Manage orebody and maintain its grade integrity
Maintain and improve environmental, health and safety outputs, eliminating LTIs
Tongon performance imperatives…recovery improvements
0
50
100
150
200
250
300
65,00
70,00
75,00
80,00
85,00
90,00
95,00
2011.00 2012.00 2013.00 2014.00 2015.00 2016.00 Q1 2017
Actual production Recovery %
Gold recovery % Gold production oz 000
Tongon performance imperatives… gold produced and mill throughput
0
1
1
2
2
3
3
4
4
5
5
0
50
100
150
200
250
300
2010 2011 2012 2013 2014 2015 2016 2017
Gold produced oz Throughput Mt
Gold production koz Throughput Mt
Tongon operational efficiency…initiatives
Optimising entire crushing plant
Redefine crushing chamber
Maximise run time
Commissioning of recycle screen
Ramp up the efficiency of the flotation circuit
Increase the pulp residence time to maximise gold recovery
Procure lower SG ceramic beads to streamline UFG operating cost
Uplift the skills of flotation plant operators to ensure
Maximising overall gold recovery
Redesign the peroxide injection system for effective usage
Install 20t oxygen plant to ensure ore excess DO demand is covered
Increase concentrate leaching period to reduce plant residue grade
Improve the heating capacity of the regeneration kiln to maximise activated absorbing capacity
Q3 2017
Q4 2017
Q4 2017
Q4 2017
Q4 2017
Stability of the national power supply… still opportunities to improve
Contractual demand 25 MW
Ask (MWh) @ 97% 202 703 MWh
Energy provided by CIE 183 928 MWh
Deficit 18 775 MWh
Nb of releases 153
Downtime 248 hours
Gas oil consumption 4 956 192 Litres
0
5
10
15
20
25
30
02468
101214161820 Total KWh million Number of blackouts
Private Public Partnership…investment
$0002009-2011 2012 2013 2014 2015 2016
Q1 2017
PTD Cost
Power Investment 27 317 781 - - - - - 28 097
Grid Power Cost (CIE invoices)
- 13 423 19 068 16 959 20 761 22 706 5 417 98 334
Total Grid Power Cost incurred
27 317 14 203 19 068 16 959 20 761 22 706 5 417 126 431
Total powerline investment cost of $28 million financed by Tongon but not yet reimbursed by CDI Government
CIE has earned $98 million through grid power invoices but power infrastructure not yet transferred to CDI State
Discussions ongoing with Mining and Energy Departments on reimbursement plan - proposal of an offset of the investment cost against State’s dividends from 2017 to 2020
Tongon…upskilling and building social relations is part of our DNA
Department Tongon ContractTotal
EmployedExpat total.
%Expat
Geology 104 44 148 0%
Mining 19 654 673 16 2%
Process 221 169 390 5 1%Engineering 205 11 216 11 5%Administration 76 181 257 4 2%Project of invest. 55 0 55 4 2%Total staff complement
680 1059 1739 40 2,3%
Labour Statistics
Training courses 2013 to date
Workers trained to date 2807
Training cost $ 415042
Trainees 311
Engaged trainees 45
Bursaries to scholars at the University of Grand Bassam
2
% expatriates comparedto nationals
0102030405060708090
100
% Expatriés % National
Successful nationalisation programme62 Expatriates succeeded by Nationals15 Expatriates in operation
Leadership team: 75% of the Heads of Departmentand 100% their assistants are Nationals
Relationship with our employees…our In-reach programme and skills training
In-Reach programme initiated to communicate, connect, commit and engage with all employees, creating a workforce who are enthusiastic and passionate about the company
Actions achieved so far:
Internal climate survey feedback shared with all employees
External climate survey conducted building on internal survey
Notice boards, suggestion boxes, local radio, SMS, presentations, social events are used to improve communication with employees
Employees representatives included in “In-Reach committee”
Our slogan “One team, One mission” translated into local language for everyone to understand
Training and upskilling of employees: to date 2 807 trained with 1 009 completed in 2017
Employees from various departments trained in comprehension / advancement / promotion / overtime calculation
All employees trained and sensitised in Family Budget Management
Photo after training session
Donation to Employees
In-Reach programme…relationship with our employees
Randgold’s and Tongon’s history shared with employees - legacy, DNA, values, imperatives and beneficial effects of company on Côte d’Ivoire as a whole and on surrounding communities
Code of conduct to be signed by each employee
Train new delegates and new union leaders, elected in June, in Industrial Relations
Women’s soccer tournament - final Men’s soccer tournament - final
Donation…Solidarity and Sharing during Ramadan
Donation of sugar, rice, oil in the
framework of Ramadan to Katonon
village which had been vandalised
following a conflict between villages
2 tonnes of sugar
2 tonnes of rice
10 boxes of oil
10 boxes milk
Cash donation of 800 000CFA
($1 368) to community villages as a
RAMADAN Gift
US$ 000 2008 - 2011 2012 2013 2014 2015 2016 Q2 2017 TOTAL
Health 75 38 8 134 110 184 52 601
Education 164 135 165 91 106 189 69 919
Potable water 56 539 48 126 51 90 51 961
Agriculture 92 0 65 20 102 227 113 619
Donation 87 14 8 246 12 17 21 405
Others 204 22 186 147 107 31 38 751
Security 0 170 55 273 35 55 29 617
Road & Infrastructure
1 000 1 000 90 257 249 90 2 669
TOTAL 679 1 919 1 536 1 126 780 1042 462 7 542
$250 883 spent during Q2 2017 bringing the year to date community spend to $462 000
Operation to date cost estimated at $7.54 million (CFA 4.52 billion)
Investment in the community…
Projects now completed…
Mbengue surgical unit building completed
Project cost: 95 202 882 CFA ($153 553)
Next step: Equipment at an estimated cost 80 million CFA ($137 000)
Poungbe abattoir and butcher shop completed
Project cost: 30 870 766 CFA ($52 771)
Next step: butcher shop connection to electricity and water borehole drilling at abattoir
Tongon Village Club building complete
Project cost: 39 010 707 CFA ($66 685)
Next step: Equipment at an estimated cost of 28 000 000 CFA ($47 863) and connection to electricity
Village Area Treated (ha)Area plowedlabourée
Area sown(ha)
Number of groups
Observations
Mbengue 20 0 35 2 Hard ground, need at least one rainKationron 10 0 0 1 Hard ground, need at least one rainSékonkaha 20 20 - 1 Sowing in progressPoungbe 10 10 - 1 Sowing in progressTongon 10 10 - Sowing in progressKorokara 20 0 plowing in progressKofiplé 60 - - Sowing and plowing in progressKatonnon 60 - - 3 Sowing and plowing in progressTotal 210 40 35 8
Sustainability…maize farming project
Current Forecast: 300ha by 8 villages at an estimated cost of $62 800 (CFA 37 680 000)
Two tractors donated to support the project and a tractor management committee setup
35ha have already been sown
40ha plowed and being sown
210ha identified and treated and plowing and sowing begin after next rains
Forecast 2018: 1000ha by all the community villages
Poultry$16 637 (9 982 000 FCFA) generated during by the three broiler farms (Tongon, Kationron and Kofiple)
Autonomy of Kationron and Tongon broilers farms
Lot 1 Lot 2 Lot 3 Lot 4 Lot 5Total
chickens sold
Total Amount
CFAChickens
sold Amount
CFAChickens
sold Amount
CFAChickens
sold Amount
CFAChickens
sold Amount
CFAChickens
sold Amount
CFA
Kofiple 413 826000 413 826000 826 1652000
Tongon 484 968000 484 968000 460 920000 1428 2856000
Kationron 403 841500 814 1642500 536 1072000 515 1030000 444 888000 2712 5474000
Total 1300 2635500 1711 3436500 996 1992000 515 1030000 444 888000 4966 9982000
Sekonkaha Hot Pepper Garden Annual results (pluvial)
Area 0.5ha production 6. 6tons of hot pepper ( excluding 25% for home consumption)
Total receipts $4 125 (2 475 000 CFA)
Korokara onion garden
Expected production 10t
Village Crops ProductionSelling
price/unit (CFA)
TOTAL receipt
Korokara Onion 1000 300 300000
Sekonkaha Hot pepper 16000 37 592000
Korolo Cabbage 2000 450 900000
Q1 results: $2 970 (1 792 000 CFA)
Agribusiness…revenue generating projects for the community
Tongon mine…reserves and resources
0
1
2
3
4
5
Reserves Resources
Moz
Tongon production…5 year plan
0
1
2
3
4
0
100
200
300
400
500
600
700
800
900
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Oz actual Oz forecast Total Cash Cost/oz Capital Grade
Production Oz 000Total cash cost/ozCapex $m Grade g/t
Nielle permit…Tongon exploration strategy
Paid off capital - refocuses exploration with lower economic hurdles
Major permit wide review opens up Nafoun-Koulivougou Corridor as a highly prospective area, generating 5 target areas for follow-up
First pass diamond drilling at Tongon NZ builds geologic picture before testing deep underground potential
Seydou South delivered to Mineral Resource team
Continued regional review of the 750km2 permit to open up further exploration areas
Greenfields Targets
Satellites
Nafoun Granite
Koulivougou
SeydouSouth
TongonPlant
5km
N
200 RL
0 RL
TN239Intersected granodiorite
Granodiorite
TND23010.5m @ 3.06g/t
from 366.8m
TND453Confirms 214
structure architecture
TND454Reduces modelled size of granodiorite
TND455In progress at 250m
Results awaited
DEPTH EXTENSION Opportunity
TND23513.2m @ 3.46g/t
from 389m
N 200m
Depth extension opportunity at Tongon North Zone…
Phase 1 drilling aims to understand structural and geological controls on higher grade mineralisation
Results to guide depth extensions
>100 GM
50-100 GM
30-50 GM
Late Granodiorite-Diorite intrusive
Intersection, Tongon Structure and HW (214) structureFold axial planes mapped in open pit
Phase 1 Diamond drilling
Nafoun Permit granted in Q1 2017 Field traverses completed Soil sampling complete for
new opportunities
Nielle/Brownfield Underground resource being
tested at Tongon NZ A new set of brownfield targets
being evaluated Significant efforts on the Nielle
greenfield to define new opportunities. Encouragingresults from Nafoun corridor
Mankono Pit optimisation at Gbongogo
suggest significant opportunity at depth in a $1 000/oz pit at low SR
Further drilling planned Strong results from new trenches
could add significant ounces to current resources
Step out to Sissedougou projectto explore further opportunities or additional resources to Gbongogo
Fapoha North +12km regional soil
anomalies on southern extension of the Tongon structure
Infill soil generated a number targets
First pit and trench results confim a wide low grade system over +150m
Tengrela South Reconnaissance surface
delineated favourable geological setting
Soil sampling ongoing
Boundiali 27km of strong soil on the northern
extension of Fonondara structure withno drilling. Surface work defined200m wide anomalisms and structural complexity
Strong RC drill results fromFonondara demonstrate significantpotential on the Fonondara corridor
Diamond and RC drilling programmes starting to improve the model and test for continuity
+30km strong soil anomalies prioritised on the Syama structure
Côte d’Ivoire…recent results from our projects
N
Southern extension of the Syama structure over 50km 5 new targets covering
30km strike prioritised Strong soil anomalies with
structural complexity are untested Traverses and pits to
upgrade geologicalinterpretation
8.5km long new soilanomalies on the Fonondara structure Opportunity to further
extend Fonondara
Boundiali…a world class address
Fonondara NorthCorridor
27km long soil anomalies Wide anomalisms over 200m
from surface work Structural complexity and
rheological contrast with intrusives and belt margin No drilling
Fonondara South Corridor
≈700koz @ 2.14g/t in a $1200/oz pit Opportunities to deepen the pit
down and add ounces. Acceptable strip ratio of 6 Significant mineralisation open
to north and south over 7km DDH planned to start shortly
N
Boundiali…defining a world class target within the Fonondara corridor
FNRC062:23m @ 1.64g/t incl 10m @ 3.58g/tFNRC063 2m @ 51.26g/tincl 1m @ 100g/tFNRC064 3m @ 1.16g/t
FNRC059 9m @ 1.01g/t from19m 2m @ 53.76g/t from 75m20m @ 2.20g/t incl 14m @ 2.85g/t
Fo
no
nd
ara
Mai
n (
1.3k
m)
FNRC074 11m @ 4.71g/t incl 8m @ 6.32g/tFNRC075 7m @ 1.05g/t
1.2k
m
So
uth
ern
exte
nsi
on
(4
.5km
)
FNRC07610m @ 9.59g/t incl 4m @ 23.20g/t
FNRC078 11m @ 18.73g/t incl 9m @ 22.75g/tFNRC079 10m @ 2.09g/t incl 2m @ 13.45g/t
FNCRC004: 7m @ 1.12g/t FNCRC006: 4m @ 2.29g/t
N
Mankono - Gbongogo prospect… expanding our footprint to add potential
N
5km
Gbongogo Main TargetWide anomalisms from trenches: 90.10m @ 0.33g/t incl. 4m @ 1.05g/t and 27.10m @ 0.48g/t; GBTR018N: 20.80m @ 0.40g/t incl. 0.80m @ 3.73g/t; DPDP survey ongoingPit optimisation underway to advise on further drilling
Dokeka Target>100ppb soil anomaly of 1km * 200m Coarse grained sediment intruded by amphibolite and feldspar porphyries+150m alteration zone values up to 1.41g/t. More results pending
Kowa Target0.20g/t; 5m @ 0.60g/t and 3m @ 0.24g/tWeak pit results, results pending from a 70m trench. Target downgraded
Lokolo Target+8km long regional soil on belt margin.Infill soil starting to define new targets.Follow up in Q2
Bafretou West Target+4km long spiky soil on belt marginHigh soil values up to 8g/t.Pitting ongoing for follow up
Randgold… Its all about finding world class mines
300km
Nafoun(Recently granted)
NielleTongon Mine
Mankono
Fapoha North and South
Tiorotieri
Tengrela NorthPassed CIM
Boundiali
Tengrela South
BiebiPassed CIM
Kouassi-DatekroCentre
(Newly granted)
Adzope and AttobrouPassed CIM
AOI JV RRL/Newcrest
AngodaPassed
CIMAkrebiNMCI
N
Taurus grounds (Afema)
Kouassi-DatekroNorth
Hundreds of people on the Fonondara North orpaillage site
Utilisation of an excavator on the Katiere orp. site. Large excavations made near Randgold trenches
Hundreds of people on the Bongama site
Orpaillage sites on Boundiali permit…a value destructive challenge for investors and Government
Industry challenges…delays and difficulties
Administration too slow in processing applications and granting permits More than 3 months to receive a response from DGMG
Timing between submission of the application and the CIM - some of our applications were submitted in April 2014 and haven’t gone through CIM yet and some passed CIM in June 2017
Duration too long from CIM to decree
Timing from permit issue to reception of decree – 3 months to 5 years
Renewals take up to 22 months and are backdated
Delays caused to companies due to illegal miners not taken into account when permits are issued
Permits being granted to companies who are not exploring
Response times need to be shortened to attract more investment into the mining sectorGrant access to exploration permits to companies with the capacity and expertise to do the necessary explorationImplement a community development plan in partnership with the government and with support of village communities to curb illegal gold panningNew mining cadastre system recently put in place by Ministry of Mines
Challenges
Solutions
Contribution to the economy of Côte d’Ivoire…
Randgold Resources89.7%
Private Entity (Ivorian)0.3%
Côte d’Ivoire10%
Tongon contribution to Côte d’Ivoire as at the end of March 2017 Shareholding
Royalties$62.0m
Direct and indirect taxes
$48.7m
Local suppliers, Local salaries and community
investment$836.5m
Dividends and IRVM $4.4m
Partnership to prosperity…
Mining Companies
and Investors
Governments NGOs and Regulators
Employees
STAKEHOLDERS
Communities
Côte d’Ivoire needs to grow its industry through world class discovery and development projects
Recent project failures are a lesson
Partnership is a long term commitment
As an industry we need to deliver viable projects and not exploit the trust of our host countries
Disclaimer…
Randgold reports its mineral resources and mineral reserves in accordance with the JORC 2012 code. As suchnumbers are reported to the second significant digit. They are equivalent to National Instrument 43-101. Mineralresources are reported at a cut-off grade based on a gold price of US$1 500/oz.The reporting of mineral reserves is also in accordance with Industry Guide 7. Pit optimisations are carried out at agold price of US$1 000/oz, except for Morila which is reported at US$1 300/oz. Mineral reserves are reported at acut-off grade based on US$1 000/oz gold price within the pit designs. Underground reserves are also based on agold price of US$1 000/oz. Dilution and ore loss are incorporated into the calculation of reserves.
Cautionary note to US investors: The United States Securities and Exchange Commission (the SEC) permitsmining companies, in their filings with the SEC, to disclose only proven and probable ore reserves. Randgold usescertain terms in this annual report such as ‘resources’, that the SEC does not recognise and strictly prohibits thecompany from including in its filings with the SEC. Investors are cautioned not to assume that all or any parts ofthe company’s resources will ever be converted into reserves which qualify as ‘proven and probable reserves’ forthe purposes of the SEC’s Industry Guide number 7.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the historical informationcontained herein, the matters discussed in this presentation are forward-looking statements within the meaning ofSection 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934, andapplicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statementswith respect to the future price of gold, the estimation of mineral reserves and resources, the realisation of mineralreserve estimates, the timing and amount of estimated future production, costs of production, reservedetermination and reserve conversion rates. Generally, these forward-looking statements can be identified by theuse of forward-looking terminology such as ‘will’, ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’,‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations ofsuch words and phrases or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will betaken’, ‘occur’ or ‘be achieved’. Assumptions upon which such forward-looking statements are based are in turnbased on factors and events that are not within the control of Randgold Resources Limited (‘Randgold’) and thereis no assurance they will prove to be correct. Forward-looking statements are subject to known and unknownrisks, uncertainties and other factors that may cause the actual results, level of activity, performance orachievements of Randgold to be materially different from those expressed or implied by such forward-lookingstatements, including but not limited to: risks related to mining operations, including political risks and instabilityand risks related to international operations, actual results of current exploration activities, conclusions ofeconomic evaluations, changes in project parameters as plans continue to be refined, as well as those factorsdiscussed in Randgold’s filings with the US Securities and Exchange Commission (the ‘SEC’). Although Randgoldhas attempted to identify important factors that could cause actual results to differ materially from those containedin forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated orintended. There can be no assurance that such statements will prove to be accurate, as actual results and futureevents could differ materially from those anticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements. Randgold does not undertake to update any forward-lookingstatements herein, except in accordance with applicable securities laws.
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