Shaft Sinkers Holdings Plc
20 September 2012
Shaft Sinkers Holdings plc
("Shaft Sinkers"; the "Group" or
Mobilisation Contract - Kibali Goldmines SPRL
Shaft Sinkers Holdings plc (LSE:SHFT), the
international shaft sinking and underground construction
group, is pleased to announce that it has been selected
by Randgold Resources Limited to initiate
mobilisation activities for the Kibali gold mine in the
Democratic Republic of the Congo ("DRC").
Kibali is a joint venture between mine operator,
Randgold Resources (45%), AngloGold Ashanti (45%) and
Congolese parastatal, Sokimo (10%). The project is situated
near Doko, in the north eastern Orientale province.
The initial phase, commencing immediately, is the
start of shaft sinking activities and equipping the main
underground shaft. This includes appointing appropriate
staff, ordering and mobilising plant and equipment and
planning the work programme for the vertical shaft
contract. The vertical shaft contract remains subject to
negotiation but talks are advanced with both parties
working to reach a final agreement as soon as is reasonably
The Company will make a further announcement upon the
completion of negotiations.
For further information:
Shaft Sinkers Holdings plc
Alon Davidov, Chief Executive Officer
Chris Hall, Chief Financial Officer
+44 (0) 20 7920 2330
Notes to Editors
Shaft Sinkers Holdings specialises in the sinking of
particularly deep and wide vertical and decline shafts and
the development of underground infrastructure, used
primarily in mining and hydropower applications.
The Group is a world leader in vertical shaft sinking
with a focus on particularly deep and/or wide vertical
shafts.It has the capability to sink shafts through all
types of rock strata, including running sands and clay. The
Group works principally for established mining and
Historically, the Group has completed projects in
over 20 countries worldwide across Africa, Europe, South
America, the Middle East, Asia and Australia. The Group was
responsible for sinking one of the deepest ever man and
material South African shafts, a secondary shaft at the
Western Deep Levels to a depth of 3,131 metres below
Major current projects and customers include the
Shaft 16 and 17 complexes for Impala Platinum, Leeuwkop for
Afplats, the Styldrift project for Anglo Platinum and Royal
Bafokeng Resources, the Lonmin projects include Karee 3,
Hossy and Saffy, the Hernic Ferrochrome project, the Moab
project for AngloGold Ashanti and Rampura Agucha for
Hindustan Zinc Limited.
Randgold Resources, the operator of the Kibali mine,
is a gold mining and exploration company operating in the
prospective gold belts of west and central Africa. Major
discoveries to date include deposits in southern and
western Mali, Côte d'Ivoire and Senegal.
Randgold operates four gold mines: Morila, Loulo and
Gounkoto in Mali and Tongon in Côte d'Ivoire and a
fifth mine, Kibali in the Democratic Republic of the Congo,
is currently being developed.
AngloGold Ashanti's primary listing is on the
Johannesburg Stock Exchange (JSE), the company is also
listed on the London Stock Exchange (LSE), the New York
Stock Exchange (NYSE), the Ghana Stock Exchange (GhSE) and
the Australian Securities Exchange (ASX).
AngloGold Ashanti has 20 operations in 10 countries
on four continents, as well as several exploration
programmes in both the established and new gold producing
regions of the world.