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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (63751)	2/14/2001 10:52:13 PM
From: long-gone	Respond to of 116795

<<Great company, great news, wish the stock would move >> Gold mining = "stocka" non grata?

To: goldsheet who wrote (63751)	2/15/2001 8:21:03 AM
From: long-gone	Respond to of 116795

PRESIDENT KONARÉ OFFICIALLY OPENS RANDGOLD RESOURCES/ANGLOGOLD MINING VENTURE IN MALI Date: Thursday, February 15, 2001 Malian President Alpha Konaré officially opened his country's newest gold mine, Morila - a joint venture between Randgold Resources and AngloGold - at a ceremony on site today. Apart from Mali and South Africa, there were high profile guests from Burkina Faso, Côte D'Ivoire, Guinea, Senegal, the United Kingdom and the United States. AngloGold and Randgold Resources each has a 40% holding in Morila with the balance being held by the Malian government. The mine is situated in the region of Sikasso in southern Mali, 180km south-east of the capital, Bamako, and is an open-pit operation. Initial commissioning started early in October 2000 and the first gold was smelted on 18 October. By the end of the year, 142 953 ounces of gold had been produced at a cash cost of $88 per ounce. Morila, which will have a minimum nine-year life, is planned to yield an average of 500 000 ounces of gold a year at an average total cash cost of $127 per ounce. Gold is extracted through a carbon-in-leach (CIL) plant which has a design capacity of 3 million tonnes a year. Speaking at the function, Mark Bristow, CE of project developer Randgold Resources, described Morila as "one of the most significant gold mines anywhere in the world". He pointed out that it had taken just over three years from the time the mine was discovered to the day the first gold was poured. "In spite of some daunting external difficulties, Morila was developed on time, and within budget, commissioned as planned, and in its first few months of production has met all expectations," he noted. Project operator AngloGold purchased a 50% share of the Randgold Resources interest in Morila for US$132 million last year. In his address, AngloGold Chairman and CEO Bobby Godsell remarked that African gold producers needed to "re market" their continent as the gold continent. "We need to take our product, gold, and make it a key value-added export. We need to combine African design and African artisanal skills to create great African jewellery and fashion goods. "God has richly endowed our continent with land, minerals and people. We must act to use these resources to make sure that this century is the African century," he said. With Morila coming on stream, Mali is now the third largest gold producer in Africa. The mine has had a positive impact on infrastructure in the region: more than 75km of roads have been constructed and/or upgraded at a cost of US$2 million and a US$500 000 all-weather airstrip built. A clinic has been built on site. Once the mine is fully operational in the course of this year, it will employ 772 employees of whom 688 will be Malian citizens. The mine is partnering the local community in a number of health initiatives including the upgrading of an existing clinic in the nearby Sanso village and the monthly spraying of malaria-carrying mosquitoes at six surrounding villages. Disclaimer Except for the historical information which may be contained herein, there maybe matters discussed in this news release that are forward-looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors including, but not limited to, development of the Company's business, the economic outlook in the gold mining industry, expectations regarding gold prices and production, and other factors, which could cause actual results to differ materially from such forward-looking statements, refer to the Company's annual report on the Form 20-F for the year ended December 31, 1998 which was filed with the Securities and Exchange Commission on March 30, 1999. anglogold.co.za