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loncor resources

Searching for Tier 1 gold deposits in the DRC

The Democratic Republic of Congo (DRC) and northwest Tanzania are home to some of the largest gold mines in the world.

The Kibali Mine in the DRC is 45% owned by Barrick, 45% owned by AngloGold Ashanti and 10% owned by the DRC Government. The mine produced 807,000 ounces of gold in FY 2018 and currently has 13 million ounces of measured and indicated resources. The Geita Mine in Northern Tanzania is 100% owned by AngloGold Ashanti and was brought back into production in 2003. It produced 564,000 ounces of gold in FY 2018 and still has 6.3 million ounces of gold in resources. The Bulyanhulu Mine, also in Northern Tanzania, started production in 2001 when reserves were 12 million ounces of gold. The first full year of production in 2002 saw 356,000 ounces of gold produced at a total cash cost of US$198/oz.

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Loncor Resources 14 12 2019
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