Shaft Sinkers Holdings an international shaft sinking and underground construction group, has been selected by Randgold Resources to initiate mobilisation activities for the Kibali gold mine in the Democratic Republic of the Congo.

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, which will begin immediately, is the start of shaft sinking activities and equipping the main underground shaft.

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 practicable, Shaft said.

The shareprice rose 4.15% to 62.75p by 14:17.

NR

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