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Presentation of SOMILO
Société des Mines de Loulo (SOMILO) S.A. which owns the 372 km2 Loulo mining lease in western Mali, is the 80% owned subsidiary of Randgold Resources Limited. The remaining 20% is owned by the Government of Mali. The project is being developed as both an open pit and underground operation by Randgold Resources to exploit two main orebodies; Gara and Yalea, as well as a number of satellite deposits. The initial open pit mine was financed, developed and then commissioned by Randgold Resources in September 2005 The development of the underground phase is expected to be financed from internal cashflow and by Randgold. The original Gara orebody, was discovered by Syndicate d'Or in 1981 and the Yalea orebody, the principal orebody, by Randgold Resources in 1996/1997. [ Randgold Resources - 31 Mar 2007 - http://www.randgoldresources.com/randgold/view/randgold/en/page48 ] |