2009-11-25 19:01:04 -

LONDON -- (Marketwire) -- 11/25/09 -- Randgold Resources (NASDAQ: GOLD) (LSE: RRS) is to acquire a further 5% interest in the Tongon gold project in Côte d'Ivoire, raising its stake to 89%. Development of the Tongon mine is currently under way and it is scheduled to go into production in the fourth quarter of 2010.



The company said today its subsidiary Randgold Resources (Côte d'Ivoire) Limited had entered into an agreement with New Mining Côte d'Ivoire SA (NMCI) to acquire the additional interest in Société des Mines de Tongon SA, the owner of the project, for US$10 million in cash. Of this, US$2 million is payable on completion of the deal and the balance upon satisfaction of certain conditions subsequent. After completion NMCI will own 1% of Tongon with the government of Côte d'Ivoire holding the remaining 10%.



Chief executive Mark Bristow said the company was pleased that it had been able to raise its stake in Tongon. The increased investment was also a mark of its confidence in Côte d'Ivoire as an emerging gold region.



"Tongon's development is currently firmly on track to pour its first gold on schedule," he said.



Website: www.randgoldresources.com :


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RANDGOLD RESOURCES ENQUIRIES
Dr Mark Bristow
Chief Executive
Tel: +44 788 071 1386
Tel: +44 779 775 2288

Graham Shuttleworth
Financial Director
Tel: +44 779 614 4438
Tel: +44 1534 735 333

Kathy du Plessis
Investor & Media Relations
Tel: +44 20 7557 7738
Email: Email Contact :

Randgold Resources Limited
Incorporated in Jersey, Channel Islands
Registration No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD