DRC opens massive new gold mine
Updated: 4:47 pm, Saturday, 3 May 2014
Democratic Republic of the Congo, one of the world's biggest gold
producers, has opened one of the continent's largest gold mines.
Production at the Kibali mine started in the third quarter of 2013 but
Mining Minister Martin Kabwelulu on Friday attended an official
ceremony in the Province-Orientale region.
Kibali Goldmines, which develops the mine, is a joint venture 45 per
cent owned by South African mining firm Randgold Resources, with
another 45 per cent stake held by South Africa's AngloGold Ashanti and
10 per cent by the Congolese state.
The $US2.5 billion ($A2.70 billion) project reportedly created 7000
jobs, 80 per cent of them held by Congolese.
Kibali Goldmines said the mine should have reserves until 2031, with
550,000 ounces (15.6 tonnes) of gold expected to be produced this
year.
The mine is thought to have reserves of 11.6 million ounces (329
tonnes) of gold but could be higher.
DR Congo has massive resources of gold, copper and cobalt but also
diamonds, iron, nickel, manganese, bauxite, uranium and cassiterite,
the most important source of tin. However most of the country's people
live in poverty.
Control over the mineral-rich areas is one of the factors in the
conflicts that have raged in eastern DR Congo for decades.
http://www.skynews.com.au/news/world/africa/2014/05/03/congo-opens-massive-new-gold-mine.html
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