Skip to main content

Morila

The Morila gold mine is situated some 280 kilometers southeast of Bamako, the capital of Mali, and 900 kilometers to the north of the port of Abidjan in Côte d’Ivoire. The mine and associated mining lease is owned by Société des Mines de Morila SA (Morila), a joint venture company held by Barrick (40%), AngloGold Ashanti (40%), and the State of Mali (20%). The mine is operated by Barrick.

2018 Performance

Gold produced
in 2018
29,812
Ounces ? 40% basis
Cost of sales
per ounce
$1,249
Total Cash Costs
per ounce ? Refer to explanation of non-GAAP measures provided and to the reconciliation of non-GAAP measures provided on page 19 of Randgold's Q4 2018 report.
$1,082

Reserves and Resources

Mineral Resources tabulations as at December 31, 2018, and reported inclusive of that material which is then modified to estimate Ore Reserves.
 
Proven and probable
gold reserves (non-attributable 100% basis) ? Proven reserves of 6.1 million tonnes grading 0.63 g/t representing 0.12 million ounces of gold. Probable reserves of 0.41 million tonnes grading 1.3 g/t representing 0.017 million ounces of gold.

Ore Reserves are reported at a gold price of $1 000/oz. TSF Ore Reserves are reported at a 0.49g/t Au cut-off grade. Satellite pit Ore Reserves are reported at a zero cut-off grade to reflect the bulk mining using polygons to outline areas of economic mining above the calculated reserve cut-off. Ore Reserves are reported including dilution and ore loss factors. Ore Reserves were estimated by Shaun Gillespie, an officer of the company and Competent Person, under JORC and reviewed by Simon Bottoms, a Qualified Person under CIM.

Mineral Resources and Ore Reserve numbers are reported as per JORC 2012 and as such are reported to the second significant digit. Accordingly numbers may not add due to rounding. 2The Mineral Resource and Ore Reserve estimates have been prepared according to JORC Code. The Qualified Person has reconciled the Ore Reserves to CIM Standards, and there are no material differences. Refer to the comments and disclaimer on page 22 of Randgold's Q4 2018 report.
0.14
Million Ounces
Measured gold resources (non-attributable 100% basis) ? Measured resources of 12 million tonnes grading 0.53 g/t representing 0.20 million ounces of gold.

Satellite pit Mineral Resources are reported at $1 000/oz within mineable polygons designed at the economic cut off to reflect the bulk mining of full ore. Satellite pit Mineral Resources are reported insitu. TSF resources are reported at a $1 500/oz at a 0.33g/t Au cut-off grade. Mineral Resources for Morila were generated by Mamadou Ly, an officer of the company under the supervision of Simon Bottoms an officer of the company, Competent Person under JORC and Qualified Person under CIM.

Mineral Resources and Ore Reserve numbers are reported as per JORC 2012 and as such are reported to the second significant digit. Accordingly numbers may not add due to rounding. 2The Mineral Resource and Ore Reserve estimates have been prepared according to JORC Code. The Qualified Person has reconciled the Ore Reserves to CIM Standards, and there are no material differences. Refer to the comments and disclaimer on page 22 of Randgold's Q4 2018 report.
0.22
Million Ounces