Randgold Resources 20-F 29 Mar 18 2017 FY Annual report (foreign) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2017shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Registrant Name	RANDGOLD RESOURCES LTD
Entity Central Index Key	1,175,580
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	94,124,872
Trading Symbol	GOLD

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017		Dec. 31, 2016		Dec. 31, 2015
Revenue
Gold sales on spot	$ 1,280,217		$ 1,200,777		$ 1,001,420
Total revenue	1,280,217		1,200,777		1,001,420
Share of profits of equity accounted joint ventures	11,950		17,299		77,303
Other income	14,928		5,960		15,616
Total income	1,307,095		1,224,036		1,094,339
Cost and expenses
Mining and processing costs	707,839		710,245		726,797
Royalties	65,663		62,377		51,673
Exploration and corporate expenditure	47,785		41,202		45,067
Other expenses	7,865		5,967		5,725
Total costs	829,152		819,791		829,262
Finance income	6,018		1,553		112
Finance costs	(3,107)		(3,193)		(4,411)
Finance income/(costs) - net	2,911		(1,640)		(4,299)
Profit before income tax	480,854		402,605		260,778
Income tax benefit / (expense)	(145,807)		(108,384)		(48,003)
Profit for the period	335,047		294,221		212,775
Other comprehensive expense
Gain/(loss) on available-for-sale financial assets	0		1,600		(561)
Share of equity accounted joint ventures other comprehensive (expense)/income	(17)	[1]	6	[1]	1,572
Total other comprehensive (expense)/income	(17)		1,606		1,011
Total comprehensive income	335,030		295,827		213,786
Profit attributable to:
Owners of the parent	278,017		247,474		188,677
Non-controlling interests	57,030		46,747		24,098
Profit for the period	335,047		294,221		212,775
Total comprehensive income attributable to:
Owners of the parent	278,000		249,080		189,688
Non-controlling interests	57,030		46,747		24,098
Total comprehensive income	$ 335,030		$ 295,827		$ 213,786
Basic earnings per share ($)	$ 2.96		$ 2.64		$ 2.03
Diluted earnings per share ($)	$ 2.92		$ 2.61		$ 2.01
Average shares in issue (000)	94,055		93,644		93,094
Kibali Jersey Limited [member]
Revenue
Gold sales on spot	$ 754,852		$ 709,372		$ 747,272
Other income	146		136		1,657
Total income	754,998		709,508		748,929
Cost and expenses
Mining and processing costs	698,980		594,722		550,712
Royalties	31,913		32,976		30,196
Exploration and corporate expenditure	8,205		6,398		8,248
Other expenses	55,031		48,250		3,658
Total costs	794,129		682,346		592,814
Finance income	4,147		4,735		4,818
Finance costs	(5,478)		(5,298)		(5,376)
Finance income/(costs) - net	(1,331)		(563)		(558)
Share of equity accounted joint ventures other comprehensive (expense)/income	113		129		268
Profit before income tax	(40,349)		26,728		155,825
Income tax benefit / (expense)	54,333		22,962		(17,840)
Profit for the period	13,984		49,690		137,985
Other comprehensive expense
Gain/(loss) on available-for-sale financial assets	(33)		13		(29)
Recycling of permanent losses on available-for-sale asset	0		0		3,173
Total other comprehensive (expense)/income	(33)		13		3,144
Total comprehensive income	13,951		49,703		141,129
Profit attributable to:
Owners of the parent	26,341		57,537		135,883
Non-controlling interests	(12,357)		(7,847)		2,102
Profit for the period	13,984		49,690		137,985
Total comprehensive income attributable to:
Owners of the parent	26,308		57,550		139,027
Non-controlling interests	(12,357)		(7,847)		2,102
Total comprehensive income	$ 13,951		$ 49,703		$ 141,129
[1]	Other reserves include the cumulative charge recognized under IFRS 2 in respect of share option schemes (net of amounts transferred to share capital and share premium) as well as the foreign currency translation reserve and the movements in available-for-sale financial assets.

CONSOLIDATED STATEMENT OF FINAN

CONSOLIDATED STATEMENT OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-current assets
Property, plant and equipment	$ 1,577,284	$ 1,560,860	$ 1,535,400
Trade and other receivables	55,052	0
Long term ore stockpiles	159,534	164,706
Investment in equity accounted joint ventures	1,440,610	1,414,211	1,427,316
Other investments in joint ventures	50,109	34,423	45,940
Total investments in joint ventures	1,490,719	1,448,634	1,473,256
Total non-current assets	3,282,589	3,174,200
Current assets
Inventories and ore stockpiles	116,797	119,027
Trade and other receivables	184,275	231,430
Cash and cash equivalents	719,808	516,301	213,372
Total current assets	1,020,880	866,758
Total assets	4,303,469	4,040,958
EQUITY
Share capital	4,707	4,690
Share premium	1,563,361	1,537,326
Retained earnings	2,077,513	1,893,542
Other reserves	60,774	63,141
Equity attributable to owners of the parent	3,706,355	3,498,699
Non-controlling interests	285,914	253,258
Total equity	3,992,269	3,751,957	3,492,305
Non-current liabilities
Loans from minority shareholders	2,765	2,765
Deferred tax	52,781	42,386	0
Provision for rehabilitation	55,738	55,455	47,581
Total non-current liabilities	111,284	100,606
Current liabilities
Trade and other payables	149,288	127,377
Current tax payable	50,628	61,018
Total current liabilities	199,916	188,395
Total equity and liabilities	4,303,469	4,040,958
Kibali Jersey Limited [member]
Non-current assets
Property, plant and equipment	2,107,718	2,068,306	2,012,303
Trade and other receivables	125,294	87,435	32,788
Mineral properties	519,117	576,536	634,394
Long term ore stockpiles	12,779	43,771	43,162
Investment in equity accounted joint ventures	255	142	289
Other investments in joint ventures	25,577	28,830	31,086
Total investments in joint ventures	25,832	28,972	31,375
Deferred tax asset	43,237	0	0
Total non-current assets	2,833,977	2,805,020	2,754,022
Current assets
Inventories and ore stockpiles	73,231	72,505	78,598
Trade and other receivables	92,991	107,025	180,724
Available-for-sale financial assets	26	58	45
Cash and cash equivalents	3,288	18,865	21,373
Total current assets	169,536	198,453	280,740
Total assets	3,003,513	3,003,473	3,034,762
EQUITY
Share capital	5	5	5
Share premium	2,523,612	2,493,612	2,493,612
Retained earnings	293,821	267,480	269,943
Other reserves	(20)	13	0
Equity attributable to owners of the parent	2,817,418	2,761,110	2,763,560
Non-controlling interests	7,420	19,777	27,624
Total equity	2,824,838	2,780,887	2,791,184
Non-current liabilities
Loans from minority shareholders	41,210	46,929	51,747
Deferred tax	0	11,096	41,926
Provision for rehabilitation	23,244	21,163	15,533
Total non-current liabilities	64,454	79,188	109,206
Current liabilities
Loans and borrowings	7,596	10,285	9,808
Trade and other payables	104,633	131,859	117,083
Current tax payable	1,992	1,254	7,481
Total current liabilities	114,221	143,398	134,372
Total equity and liabilities	$ 3,003,513	$ 3,003,473	$ 3,034,762

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands		Total		Kibali Jersey Limited [member]	Issued capital [member]		Issued capital [member]Kibali Jersey Limited [member]	Share premium [member]		Share premium [member]Kibali Jersey Limited [member]	Other reserves [member]		Other reserves [member]Kibali Jersey Limited [member]	Retained Earnings [Member]		Retained Earnings [Member]Kibali Jersey Limited [member]	Equity attributable to owners of parent [member]		Equity attributable to owners of parent [member]Kibali Jersey Limited [member]	Non-controlling interests [member]		Non-controlling interests [member]Kibali Jersey Limited [member]
Balance at the beginning of the year at Dec. 31, 2014		$ 3,302,954		$ 2,720,055	$ 4,634		$ 5	$ 1,450,984		$ 2,493,612	$ 67,254		$ (3,144)	$ 1,575,218		$ 204,060	$ 3,098,090		$ 2,694,533	$ 204,864		$ 25,522
Balance (in shares) at Dec. 31, 2014		92,674,085					5,000
Share of other comprehensive income of joint ventures		$ 1,572			0			0			1,572			0			1,572			0
Fair value movement on available-for-sale financial assets		(561)		(29)	0		$ 0	0		0	(561)		(29)	0		0	(561)		(29)	0		0
Total other comprehensive expense		1,011		3,144	0		0	0		0	1,011		3,144	0		0	1,011		3,144	0		0
Net profit for the period		212,775		137,985	0		0	0		0	0		0	188,677		135,883	188,677		135,883	24,098		2,102
Total comprehensive income/(expense) for the period		213,786		141,129	0		0	0		0	1,011		3,144	188,677		135,883	189,688		139,027	24,098		2,102
Share-based payments		21,915			0			0			21,915			0			21,915			0
Share options exercised		$ 289			1			288			0			0			289			0
Share options exercised (in shares)		12,000
Reserves transfer on exercise of options previously expensed under IFRS 2	[1]	$ 0			0			77			(77)			0			0			0
Shares vested	[1]	$ 2,217			15			25,300			(23,098)			0			2,217			0
Shares vested (in shares)	[1]	296,200
Dividends				(70,000)			0			0			0			(70,000)			(70,000)			0
Dividend relating		$ (38,600)			12			17,132			0			(55,744)			(38,600)			0
Dividend relating (in shares)		250,635
Recycling of permanent losses on available-for-sale asset				3,173			0			0			3,173			0			3,173			0
Non-controlling interest share of Gounkoto dividend		$ (10,256)			0			0			0			0			0			(10,256)
Balance at the end of the year at Dec. 31, 2015		$ 3,492,305		2,791,184	4,662		$ 5	1,493,781		2,493,612	67,005		0	1,708,151		269,943	3,273,599		2,763,560	218,706		27,624
Balance (in shares) at Dec. 31, 2015		93,232,920					5,000
Share of other comprehensive income of joint ventures	[2]	$ 6			0			0			6			0			6			0
Fair value movement on available-for-sale financial assets		1,600	[2]	13	0	[2]	$ 0	0	[2]	0	1,600	[2]	13	0	[2]	0	1,600	[2]	13	0	[2]	0
Total other comprehensive expense		1,606		13	0		0	0		0	1,606		13	0		0	1,606		13	0		0
Net profit for the period		294,221		49,690	0		0	0		0	0		0	247,474		57,537	247,474		57,537	46,747		(7,847)
Total comprehensive income/(expense) for the period		295,827		49,703	0		0	0		0	1,606		13	247,474		57,537	249,080		57,550	46,747		(7,847)
Share-based payments		22,545			0			0			22,545			0			22,545			0
Share options exercised		$ 3,233			5			3,228			0			0			3,233			0
Share options exercised (in shares)		109,413
Reserves transfer on exercise of options previously expensed under IFRS 2		$ 0			0	[1]		1,052	[1]		(1,052)	[1]		0	[1]		0	[1]		0
Shares vested	[1]	$ 2,711			18			29,656			(26,963)			0			2,711			0
Shares vested (in shares)	[1]	358,329
Dividends				(60,000)			0			0			0			(60,000)			(60,000)			0
Dividend relating		$ (52,091)			5			9,609			0			(61,705)			(52,091)			0
Dividend relating (in shares)		103,090
Recycling of permanent losses on available-for-sale asset				0
Non-controlling interest share of Gounkoto dividend		$ (11,855)			0			0			0			0			0			(11,855)
Purchase of additional share in Tongon		(718)			0			0			0			(378)			(378)			(340)
Balance at the end of the year at Dec. 31, 2016		$ 3,751,957		2,780,887	4,690		$ 5	1,537,326		2,493,612	63,141		13	1,893,542		267,480	3,498,699		2,761,110	253,258		19,777
Balance (in shares) at Dec. 31, 2016		93,803,752					5,000
Share of other comprehensive income of joint ventures	[2]	$ (17)			0			0			(17)			0			(17)			0
Fair value movement on available-for-sale financial assets				(33)			$ 0			0			(33)			0			(33)			0
Total other comprehensive expense		(17)		(33)	0		0	0		0	(17)		(33)	0		0	(17)		(33)	0		0
Net profit for the period		335,047		13,984	0		0	0		0	0		0	278,017		26,341	278,017		26,341	57,030		(12,357)
Total comprehensive income/(expense) for the period		335,030		13,951	0		0	0		0	(17)		(33)	278,017		26,341	278,000		26,308	57,030		(12,357)
Shares issued to equity owners				30,000			0			30,000			0			0			30,000			0
Share-based payments		21,779			0			0			21,779			0			21,779			0
Share options exercised		$ 277			1			276			0			0			277			0
Share options exercised (in shares)		10,306
Reserves transfer on exercise of options previously expensed under IFRS 2	[1]	$ 0			0			72			(72)			0			0			0
Shares vested	[1]	$ 1,646			16			25,687			(24,057)			0			1,646			0
Shares vested (in shares)	[1]	310,814
Dividend relating		$ (94,046)			0			0			0			(94,046)			(94,046)			0
Dividend relating (in shares)		0
Recycling of permanent losses on available-for-sale asset				0
Non-controlling interest share of Gounkoto dividend		$ (24,374)			0			0			0			0			0			(24,374)
Balance at the end of the year at Dec. 31, 2017		$ 3,992,269		$ 2,824,838	$ 4,707		$ 5	$ 1,563,361		$ 2,523,612	$ 60,774		$ (20)	$ 2,077,513		$ 293,821	$ 3,706,355		$ 2,817,418	$ 285,914		$ 7,420
Balance (in shares) at Dec. 31, 2017		94,124,872		4,648			5,000
[1]	Restricted shares were issued as remuneration to executive directors and senior management. Shares were also issued to executive directors following approval of their annual bonuses and to non-executive directors as fees. The transfer between ‘other reserves’ and ‘share premium’ in respect of the shares vested represents the cost calculated in accordance with IFRS 2.
[2]	Other reserves include the cumulative charge recognized under IFRS 2 in respect of share option schemes (net of amounts transferred to share capital and share premium) as well as the foreign currency translation reserve and the movements in available-for-sale financial assets.

CONSOLIDATED STATEMENTS OF CHA5

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of changes in equity [abstract]
Reserve of share-based payments	$ 59.4	$ 61.7	$ 67.2
Reserve of exchange differences on translation	1.4	1.4	1.4
Reserve of gains and losses on financial assets measured at fair value through other comprehensive income	$ 0	$ 0	$ 1.6

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flow from operating activities
Profit for the period	$ 335,047	$ 294,221	$ 212,775
Income tax expense	145,807	108,384	48,003
Profit before income tax	480,854	402,605	260,778
Share of profits of equity accounted joint ventures	(11,950)	(17,299)	(77,303)
Net finance (income)/cost	(4,297)	570	2,902
Unwind of discount on provisions for environmental rehabilitation	1,386	1,070	1,397
Depreciation and amortization	182,900	175,343	150,902
Share-based payments	21,993	23,891	22,943
Non-cash adjustment on royalties	28,101	31,276	36,855
Loss on sale of available-for-sale financial assets	0	524	0
Cash flows from (used in) operations before changes in working capital	698,987	617,980	398,474
Effects of changes in operating working capital items
Receivables	(44,417)	(53,319)	(22,399)
Inventories and ore stockpiles	7,402	14,577	6,220
Trade and other payables	29,374	(14,206)	28,137
Cash generated from operations before interest and tax	691,346	565,032	410,432
Interest received	6,018	1,553	112
Interest paid	(1,721)	(2,123)	(3,014)
Dividends received from equity accounted joint ventures	4,000	26,000	45,272
Income tax paid	(151,845)	(69,235)	(55,820)
Net cash generated by operating activities	547,798	521,227	396,982
Additions to property, plant and equipment	(195,979)	(170,783)	(216,038)
Sale of available-for-sale financial assets	0	1,982	0
Funds invested in equity accounted joint ventures	(30,915)	0	(2,829)
Loans repaid by equity accounted joint ventures	746	11,934	1,072
Acquisition of additional interest in Tongon	0	(718)	0
Net cash used in investing activities	(226,148)	(157,585)	(217,795)
Proceeds from issue of ordinary shares	277	3,233	289
Dividends paid to company’s shareholders	(94,046)	(52,091)	(38,600)
Dividends paid to non-controlling interests	(24,374)	(11,855)	(10,256)
Net cash used by financing activities	(118,143)	(60,713)	(48,567)
Net increase in cash and equivalents	203,507	302,929	130,620
Cash and equivalents at beginning of year	516,301	213,372	82,752
Cash and cash equivalents at end of year	719,808	516,301	213,372
Kibali Jersey Limited [member]
Cash flow from operating activities
Profit for the period	13,984	49,690	137,985
Income tax expense	(54,333)	(22,962)	17,840
Profit before income tax	(40,349)	26,728	155,825
Depreciation and amortization	264,415	210,925	192,509
Cash flows from (used in) operations before changes in working capital	275,930	282,041	351,768
Effects of changes in operating working capital items
Inventories and ore stockpiles	(11,026)	14,712	12,447
Cash generated from operations before interest and tax	225,429	272,950	369,658
Interest received	2,701	3,400	3,591
Interest paid	(4,856)	(4,637)	(4,198)
Dividends received from equity accounted joint ventures	0	276	0
Income tax paid	(1,796)	(8,973)	(13,148)
Net cash generated by operating activities	221,478	263,016	355,903
Additions to property, plant and equipment	(256,208)	(213,570)	(286,905)
Loans repaid by equity accounted joint ventures	3,170	2,555	423
Net cash used in investing activities	(253,038)	(211,015)	(286,482)
Proceeds from issue of ordinary shares	30,000	0	0
Dividends paid to company’s shareholders	(8,000)	(52,000)	(70,000)
Repayment of borrowings	(7,228)	(6,714)	(6,302)
Net cash used by financing activities	14,772	(58,714)	(76,302)
Net increase in cash and equivalents	(16,788)	(6,713)	(6,881)
Cash and equivalents at beginning of year	18,865	21,373
Cash and cash equivalents at end of year	3,288	18,865	21,373
Cash and cash equivalents at the beginning of the year	7,314	14,027	20,908
Bank overdrafts	(12,762)	(11,551)	(7,346)
Cash and cash equivalents at the end of the year	$ (9,474)	$ 7,314	$ 14,027

Nature of operations

Nature of operations	12 Months Ended
	Dec. 31, 2017
Nature of operations [Abstract]
Disclosure of nature of operations [text block]	1. Nature of operations Randgold Resources Limited (the company) and its subsidiaries together with its joint ventures (the group) carry out exploration and gold mining activities. The group currently has five operating mines. There are three operating mines in Mali, West Africa: the Morila gold mine (equity accounted joint venture), which started production in October 2000, the Loulo gold mine (subsidiary), which commenced production in November 2005 and the Gounkoto gold mine (subsidiary), which began production in June 2011. The Morila gold mine is nearing the end of its life and fed tailings storage facility (TSF) material, as well as Domba satellite ore during the year. The group also operates a fourth gold mine in Côte d’Ivoire, Tongon (subsidiary), which started production in December 2010 and a fifth in the Democratic Republic of Congo (DRC), Kibali (equity accounted joint venture) which started production in October 2013. Randgold is the operator of all of its mines. The interests of the group in its operating mines are held through Société des Mines de Morila SA (Morila) which owns the Morila mine, Société des Mines de Loulo SA (Loulo) which owns the Loulo mine, Société des Mines de Tongon SA (Tongon) which owns the Tongon mine, Société des Mines de Gounkoto SA (Gounkoto) which owns the Gounkoto mine and Kibali Goldmines SA (Kibali), which owns the Kibali mine. Randgold holds an effective 40 40 20 80 45 45 10 90 80 20 89.7 10 0.3 The group has a portfolio of exploration permits and projects, with various exploration programs, ranging from early stage exploration to technical and financial studies being undertaken. These are underway in the DRC, Mali, Senegal and Côte d’Ivoire.

Significant accounting policies

Significant accounting policies	12 Months Ended
	Dec. 31, 2017
Disclosure of significant accounting policies [text block]	Significant accounting policies The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The consolidated financial statements of Randgold Resources Limited and its subsidiaries and joint ventures have been prepared in accordance with International Financial Reporting Standards and Interpretations (collectively (IFRS)) issued by the International Accounting Standards Board (IASB) as adopted by the European Union and in accordance with Article 105 of the Companies (Jersey) Law of 1991. The consolidated financial statements also comply with IFRS as issued by the IASB, as is required as a result of our listing on NASDAQ in the US. The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the company’s accounting policies. The areas involving a high degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in note 3. After reviewing the group’s budget for the next financial year, and other longer term plans, the directors are satisfied, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. The directors have no reason to believe that the group will not be a going concern for at least the next 12 months based on forecasts and available cash resources and available facilities. The financial statements were approved and authorized for issue by the board of directors on March 29, 2018. The IASB has issued the following new standards, amendments to published standards and interpretations to existing standards with effective dates on or prior to January 1, 2017 which have been adopted by the group for the first time this year. These have not had a material impact. Effective period commencing on or after IAS 12 Recognition of deferred tax assets for unrealized losses (Amendments to IAS12) January 1, 2017 IAS 7 Disclosure Initiative: Amendments to IAS 7 January 1, 2017 Annual Improvements to IFRSs (2014 – 2016 Cycle) January 1, 2017 Certain new standards, amendments and interpretations to existing standards have been published that are relevant to the group’s activities and are mandatory for the group’s accounting periods beginning after January 1, 2018 or later periods and which the group has decided not to adopt early. These include: Effective period commencing on or after IFRS 9 Financial instruments January 1, 2018 IFRS 15 Revenue from contracts with customers January 1, 2018 IFRS 16 Leases January 1, 2019 IFRS 17 Insurance contracts January 1, 2021 IFRS 2 Classification and Measurement of Share-based Payment Transactions (Amendments to IFRS 2) January 1, 2018 IFRIC 22 IFRIC 22 Foreign Currency Transactions and Advance Consideration January 1, 2018 IFRIC 23 IFRIC 23 Uncertainty over Income Tax Treatments January 1, 2019 IAS 28 Amendments to IAS 28: Long-term interests in Associates and Joint Ventures January 1, 2019 Annual Improvements to IFRSs (2015-2017 Cycle) January 1, 2019 IFRS 15 is intended to introduce a single framework for revenue recognition and clarify principles of revenue recognition. This standard modifies the determination of when to recognize revenue and how much revenue to recognize. The core principle is that an entity recognizes revenue to depict the transfer of promised goods and services to the customer of an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Management have completed an assessment of an existing gold sale contract and, based on the analysis performed, do not anticipate any material impact to the recognition of revenue upon adoption of this standard based on the existing arrangements at their operations given the commonality across its contracts. IFRS 16 introduces a single lease accounting model. This standard requires lessees to account for all leases under a single on-balance sheet model. Under the new standard, a lessee is required to recognize all lease assets and liabilities on the balance sheet; recognize amortization of leased assets and interest on lease liabilities over the lease term; and separately present the principal amount of cash paid and interest in the cash flow statement. The requirements of IFRS 16 extend to certain service contracts, such as mining contractors in which the contractor provides services and the use of assets, which may impact the group. Accordingly, the group has initiated a review of relevant contracts to complete an impact assessment. IFRS 9 ‘Financial instruments’ addresses the classification and measurement of financial assets and financial liabilities. The complete version of IFRS 9 was issued in July 2014. It replaces the guidance in IAS 39 that relates to the classification and measurement of financial instruments. IFRS 9 retains but simplifies the mixed measurement model and establishes three primary measurement categories for financial assets: amortized cost, fair value through other comprehensive income (OCI) and fair value through profit or loss. The basis of classification depends on the entity’s business model and the contractual cash flow characteristics of the financial asset. Investments in equity instruments are required to be measured at fair value through profit or loss with the irrevocable option at inception to present changes in fair value in OCI. There is now a new expected credit loss model that replaces the incurred loss impairment model used in IAS 39 and will apply to loans to joint ventures although the impact is not expected to be material. It is noted that TVA receivables are outside the scope of this standard. For financial liabilities there were no changes to classification and measurement except for the recognition of changes in credit risk in other comprehensive income, for liabilities designated at fair value through profit or loss. Contemporaneous documentation is still required but is different to that currently prepared under IAS 39. The consolidated financial information includes the financial statements of the company, its subsidiaries and the company’s equity accounted joint ventures using uniform accounting policies for similar transactions and other events in similar circumstances. Subsidiaries are entities over which the group has power, exposure, or rights, to variable returns from its involvement and the ability to use its power over the investee to affect the amount of the group's returns; generally accompanying an interest of more than one-half of the voting rights. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. The purchase method of accounting is used to account for the acquisition of subsidiaries by the group. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. Acquisition costs are expensed. Identifiable assets acquired (including mineral property interests or other identifiable intangible assets) and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the cost of acquisition over the fair value of the group’s share of the identifiable net assets acquired is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the statement of comprehensive income. Inter-company transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. The group holds interests in a number of joint ventures. In a joint venture the parties that have joint control of the arrangement (the joint venturers) have a right to the net assets of the arrangement. This right is accounted for in the consolidated financial statements using the equity method. Joint control is considered to exist when there is contractual joint control; control being the power to govern the financial and operating policies of an entity so as to obtain benefits from the activities and the ability to use its power over the investee to affect the amounts of the group’s returns by the joint venturers. Acquisitions Except for initial recognition under IFRS 11 transition rules, further investments in additional joint venture companies are initially recognized at cost. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued or liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the acquisition. Goodwill on joint ventures represents the excess of the cost of acquisition of the joint venture over the group’s share of the fair value of the identifiable net assets of the joint venture and is included in the carrying amount of the investments. Joint ventures are accounted for using the equity method of accounting. In applying the equity method of accounting, the group’s share of its joint ventures’ post-acquisition profits or losses are recognized in profit or loss and its share of post-acquisition other comprehensive income is recognized in other comprehensive income. These post-acquisition movements and distributions received from the joint venture companies are adjusted against the carrying amount of the investments. When the group’s share of losses in a joint venture company equals or exceeds its interest in the joint venture company, including any other unsecured non-current receivables, the group does not recognize further losses, unless it has obligations to make or has made payments on behalf of the joint venture company. Unrealized gains on transactions between the group and its joint venture companies are eliminated to the extent of the group’s interest in the joint venture companies. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Any trading receivables and payables with joint venture companies are classified within trade and other receivables and payables. The accounting policies of joint venture companies have been changed where necessary to ensure consistency with the accounting policies adopted by the group. Dividends received are classified as operating cash flows in the consolidated cash flow statement. Investment in subsidiaries and joint ventures are stated at cost less any provisions for impairment in the individual financial statements of the company. Dividends are accounted for when the company becomes entitled to receive them. On the disposal of an investment, the difference between the net disposal proceeds and the carrying amount is charged or credited to the statement of comprehensive income. An operating segment is a group of assets and operations engaged in performing mining or advanced exploration that are subject to risks and returns that are different from those of other segments. Other parts of the business are aggregated and treated as part of a ‘corporate and exploration’ segment. The group provides segmental information using the same categories of information the group’s chief operating decision maker utilizes. The group’s chief operating decision maker is considered by management to be the board of directors. The group has only one business segment, that of gold mining. Segment analysis is based on individual mining operations and exploration projects that have a significant amount of capitalized expenditure or other fixed assets. Functional and presentation currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in US dollars, which is also the functional currency of the company and its significant subsidiaries and joint ventures. Transactions and balances Foreign currency transactions are translated into the relevant functional currency using the exchange rates prevailing at the date of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of comprehensive income in other income and other expenses. Long-lived assets and mine development costs Long-lived assets including development costs and mine plant facilities (such as processing plants, tailings facilities, raw water dams and power stations) are initially recorded at cost. Development of orebodies includes the development costs of shaft systems and waste rock removal that allows access to reserves that are economically recoverable in the future. Costs associated with underground development are capitalized when the works provide access to the orebody, whereas costs associated with ore extraction from operating orebody sections are treated as operating costs. Where relevant the estimated cost of dismantling the asset and remediating the site is included in the cost of property, plant and equipment, subsequently they are measured at cost less accumulated amortization and impairment. Development costs consist primarily of direct expenditure incurred to establish or expand productive capacity. Costs are capitalized during the construction of a new mine until commercial levels of production are achieved (refer to ‘Commercial production’ below), after which the relevant costs are depreciated. Costs are capitalized provided that the project is considered to be commercially, technically and economically viable. Such viability is deemed to be achieved when the group is confident that the project will provide a satisfactory return relative to its perceived risks and is sufficiently certain of economic production. Costs which are necessarily incurred while commissioning new assets, in the period before they are capable of operating in the manner intended by management, are capitalized under ‘Long-lived assets and mine development costs’. Development costs incurred after the commencement of production are capitalized to the extent they are expected to give rise to a future economic benefit. Commercial production The group assesses the stage of each mine construction project to determine when a mine moves into the production stage. The criteria used to assess the start date are determined by the unique nature of each mine construction project and include factors such as the complexity of a plant and its location. The group considers various relevant criteria to assess when the mine construction project is substantially complete and ready for its intended use and moves into the production stage. Some of the criteria would include but are not limited to the following: • The level of capital expenditure compared to construction cost estimates; • Completion of a reasonable period of testing of the mine plant and equipment; • The ability to produce gold in saleable form; and • The ability to sustain commercial levels of gold production. When a mine construction project moves into the production stage, the capitalization of certain mine construction costs ceases and subsequent costs are either regarded as inventory or expensed, except for capitalizable costs related to subsequent mining asset additions or improvements, open cast stripping, underground mine development or ore reserve development. The commissioning of an underground mine typically occurs in phases, with sections brought into production while deeper levels remain under construction. The shared infrastructures, such as declines of shafts, are assessed to determine whether they contribute to the production areas. Where they contribute to production, the attributable costs are transferred to production assets and start to be depreciated. The costs transferred comprise costs directly attributable to producing zones or, where applicable, estimates of the portion of shared infrastructure that are attributed to the producing zones. Development expenditure approval Development activities commence after project sanctioning by the appropriate level of management. Judgment is applied by management in determining when a project has reached a stage at which economically recoverable reserves exist such that development may be sanctioned. In exercising this judgment, management is required to make certain estimates and assumptions similar to those described below for capitalized exploration and evaluation expenditure. Any such estimates and assumptions may change as new information becomes available. Stripping costs In surface mining operations, the group may find it necessary to remove waste materials to gain access to mineral ore deposits prior to and after production commences. This waste removal activity is known as ‘stripping’. Prior to production commencing from a pit, stripping costs are measured internally and capitalized until the point where the overburden has been removed and access to the ore commences. Subsequent to production, waste stripping continues, either as part of ore extraction as a run of mine activity or due to strategic decisions such as pit push-back campaigns. There are two benefits accruing to the group from stripping activity during the production phase: usable ore that can be used to produce inventory and improved access to further quantities of material that will be mined in future periods. Economic ore extracted during this period and subsequently is accounted for as inventory. The production stripping costs relating to improved access to further quantities in future periods are capitalized as a stripping activity asset, if and only if, all of the following are met: • It is probable that the future economic benefit (improved access to the orebody) associated with the stripping activity will flow to the group; • The group can identify the component of the orebody for which access has been improved; and • The costs relating to the stripping activity associated with that component or components can be measured reliably. In determining the relevant component of the orebody for which access is improved, the group componentizes each of its mines into geographically distinct orebody sections or phases to which the stripping activities being undertaken within that component are allocated. Such phases are determined based on assessment of factors such as geology and mine planning. Once determined that any portion of the production stripping costs should be capitalized, the group typically uses the average stripping ratio of the component or phase of the mine to which the production stripping cost related to determine the amount of the production stripping costs that should be capitalized, unless the direct costs of stripping activity can be separately identified in which case such costs are capitalized. The group depreciates the deferred costs capitalized as stripping assets on a unit of production method, with reference to the ex-pit ore treated from the relevant orebody component or phase. Short-lived assets Short-lived assets including non-mining assets are shown at cost less accumulated depreciation and impairment. Depreciation and amortization Long-lived assets include mining properties, such as metallurgical plant, tailings and raw water dams, power plant and mine infrastructure, as well as mine development costs and are depreciated on a unit of production basis. Depreciation and amortization are charged over the life of the mine (or over the remaining useful life of the asset, if shorter) based on estimated ore tonnes contained in proven and probable reserves to be extracted using the relevant asset. As an example, underground assets are depreciated over underground proven and probable reserves and tonnes milled from those orebodies. No future capital expenditure is included in the depreciable value. Proven and probable ore reserves reflect estimated quantities of economically recoverable reserves, which can be recovered in the future from known mineral deposits. Only proven and probable reserves are used in the tonnes milled units of production depreciation calculation. Any changes to the expected life of the mine (or asset) are applied prospectively in calculating depreciation and amortization charges. Depreciation of construction and development costs for new mines commences when commercial production is achieved, as detailed above. Underground development costs that are attributable to the commissioned sections of an underground mine are depreciated from the date the development provides access to operational areas and ore extraction begins from those areas. Other assets under construction, such as plant improvement projects, are depreciated from the date they are commissioned, based on assessment by the group’s engineers. Short-lived assets which include motor vehicles, office equipment and computer equipment are depreciated over estimated useful lives of between two to five years but limited to the remaining mine life. Residual values and useful lives are reviewed, and adjusted if appropriate, at each statement of financial position date. Changes to the estimated residual values or useful lives are accounted for prospectively. Depreciation starts when the assets are ready and available for use. Impairment The carrying amount of the property, plant and equipment and investments in joint ventures of the group is compared to the recoverable amount of the assets whenever events or changes in circumstances indicate that the net book value may not be recoverable. The recoverable amount is the higher of value in use and the fair value less cost to sell. In assessing the value in use, the expected future cash flows from the assets is determined by applying a discount rate to the anticipated risk adjusted future cash flows. The discount rate used is the group’s weighted average cost of capital adjusted for asset specific factors when applicable. An impairment is recognized in the income statement to the extent that the carrying amount exceeds the assets’ recoverable amount. Only proven and probable reserves are used in the calculations and the models use the approved mine plans and exclude capital expenditure which enhance the assets or extractable ore tonnes outside of such approved mine plans. The revised asset carrying amounts are depreciated in line with group accounting policies. Assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units) for purposes of assessing impairment. The estimates of future discounted cash flows are subject to risks and uncertainties including the future gold price. It is therefore reasonably possible that changes could occur which may affect the recoverability of property, plant and equipment and investments in joint ventures. A previously recognized impairment loss is reversed if the recoverable amount increases as a result of a reversal of the conditions that originally resulted in the impairment. This reversal is recognized in the income statement and is limited to the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized in prior years. Inventories include ore stockpiles, gold in process and dóre supplies, stores and materials, and are stated at the lower of cost or net realizable value. The cost of ore stockpiles and gold produced is determined principally by the weighted average cost method using related production costs. Cost of ore stockpiles include costs incurred up to the point of stockpiling, such as mining and grade control costs, but exclude future costs of production. Ore extracted is allocated to stockpiles based on estimated grade, with grades below defined cut-off levels treated as waste and expensed. While held in physically separate stockpiles, the group blends the ore from each stockpile at an individual mine when feeding the processing plant to achieve the resultant gold content. In such circumstances, lower and higher grade ore stockpiles each represent a raw material, used in conjunction with each other, to deliver overall gold production, as supported by the relevant feed plan. Morila’s full grade ore stockpile was depleted in 2015. At Loulo, full grade open pit stockpile material is above 3.0 1.58 0.7 2.58 1.09 1.34 0.79 1.53 0.99 The processing of ore in stockpiles occurs in accordance with the Life of Mine (LoM) processing plan that has been optimized based on the known mineral reserves, current plant capacity and mine design. Ore tonnes contained in the stockpile which exceed the annual tonnes to be milled as per the mine plan in the following year, are classified as non-current in the statement of financial position. The net realizable value of ore stockpiles is determined with reference to estimated contained gold and market gold prices applicable. Ore stockpiles which are blended together or with future ore mined when fed to the plant are assessed as an input to the gold production process to ensure the combined stockpiles are carried at the lower of cost and net realizable value. Ore stockpiles which are not blended in production are assessed separately to ensure they are carried at the lower of cost and net realizable value, although no such stockpiles are currently held. Costs of gold inventories include all costs incurred up until production of an ounce of gold such as milling costs, mining costs and directly attributable mine general and administration costs but exclude transport costs, refining costs and royalties. Net realizable value is determined with reference to estimated contained gold and market gold prices. Stores and materials consist of consumable stores and are valued at weighted average cost after appropriate impairment of redundant and slow moving items. Consumable stock for which the group has substantially all the risks and rewards of ownership are brought onto the statement of financial position as current assets. Interest is recognized on a time proportion basis, taking into account the principal outstanding and the effective rate over the period to maturity. Borrowing costs are expensed as incurred except to the extent that it relates directly to the construction of property, plant and equipment during the time that is required to complete and prepare the asset for its intended use, when it is capitalized as part of property, plant and equipment. Borrowing costs are capitalized as part of the cost of the asset where it is probable that the asset will result in economic benefit and where the borrowing cost can be measured reliably. No interest or borrowing costs have been capitalized during the year or during the prior year. Royalty arrangements based on mineral production are in place at each operating mine. The primary type of royalty is a net smelter return royalty. Under this type of royalty, the group pays the holder an amount calculated as the royalty percentage multiplied by the value of gold production at market gold prices less selling costs. A royalty expense is recorded when revenue from the sale of gold is recognized. Financial instruments are measured as set out below. Financial instruments carried on the consolidated statement of financial position include cash and cash equivalents, trade and other receivables, trade and other payables, available for sale financial assets, loans to and from subsidiaries and joint ventures and loans to minorities. Cash and cash equivalents Cash and cash equivalents are carried in the consolidated statement of financial position at cost. For the purpose of the cash flow statement, cash and cash equivalents comprise cash on hand, deposits held at call with banks, other short term highly liquid investments with a maturity of three months or less at the date of purchase and bank overdrafts. In the consolidated statement of financial position, bank overdrafts are included in borrowings in current liabilities. Trade and other receivables Trade and other receivables are recognized initially at fair value. There is a rebuttable presumption that the transaction price is fair value unless this could be refuted by reference to market indicators. Subsequently, trade and other receivables are measured at amortized cost using the effective interest method, less provision for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganization, and default or delinquency in payments are considered indicators that the trade receivable may be impaired. The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognized in mining and processing costs in the consolidated statement of comprehensive income. Available-for-sale financial assets Available-for-sale financial assets are non-derivatives that are either designated in this category or not classified in any of the other categories. Available-for-sale financial assets are designated on acquisition. They are normally included in current assets and are carried at fair value. Where a decline in the fair value of an available-for-sale financial asset constitutes objective evidence of impairment, the amount of the loss is recognized in the consolidated statement of comprehensive income within other expenses, other movements in fair value are recognized in other reserves within equity. Borrowings (including bank borrowings when applicable, loans from subsidiaries, joint ventures and minorities) Borrowings are recognized initially at fair value, which equates to the proceeds received, net of transaction costs incurred. Borrowings are subsequently stated at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the statement of comprehensive income over the period of the borrowings using the effective interest method. Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least 12 months after the statement of financial position date. Trade and other payables Accounts payable and other short term monetary liabilities, are initially recognized at fair value, which equates to the transaction price, and subsequently carried at amortized cost using the effective interest method. The net present value of estimated future rehabilitation costs is provided for in the consolidated financial statements and capitalized within property, plant and equipment on initial recognition. Rehabilitation will generally occur on closure or after closure of a mine. Initial recognition is at the time of the construction or disturbance occurring and thereafter as and when additional construction or disturbances take place. The estimates are reviewed annually to take into account the effects of inflation and changes in estimated risk adjusted rehabilitation works cost and are discounted using rates that reflect the time value of money. Annual increases in the provision due to the unwinding of the discount are recognized in the consolidated statement of comprehensive income as a finance cost. The present value of additional disturbances and changes in the estimate of the rehabilitation liability are recorded to mining assets against an increase/decrease in the rehabilitation provision. The rehabilitation asset is amortized on a unit of production basis. Rehabilitation projects undertaken
Kibali Jersey Limited [member]
Disclosure of significant accounting policies [text block]	1. SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The consolidated financial statements of Kibali (Jersey) Limited and its subsidiaries and joint venture have been prepared in accordance with International Financial Reporting Standards and Interpretations (collectively (IFRS)) issued by the International Accounting Standards Board (IASB). The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the group’s After reviewing the group’s budget for the next financial year, and other longer term plans, the directors are satisfied, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. The directors have no reason to believe that the group will not be a going concern for at least the next 12 months based on forecasts and available cash resources and available facilities. The IASB has issued the following new standards, amendments to published standards and interpretations to existing standards with effective dates on or prior to January 1, 2017 which have been adopted by the group for the first time this year. These have not had a material impact. Effective period IAS 12 Amendments – Recognition of deferred tax assets for unrealized losses January 1, 2017 IAS 7 Amendments – Disclosure initiative January 1, 2017 Annual improvements to IFRSs (2014 – 2016 cycle) January 1, 2017 Certain new standards, amendments and interpretations to existing standards have been published that are relevant to the group’s activities and are mandatory for the group’s accounting periods beginning after January 1, 2018 or later periods and which the group has decided not to adopt early. These include: Effective period Financial instruments January 1, 2018 IFRS 15 Revenue from contracts with customers January 1, 2018 IFRS 16 Leases January 1, 2019 Clarifications to IFRS 15 revenue from Contracts with Customers January 1, 2018 IFRIC 22 Foreign Currency Transactions and Advance Consideration January 1, 2018 IFRIC 23 Uncertainty over Income Tax Treatments January 1, 2019 IAS 28 Amendments – Long-term interests in Associates and Joint Ventures January 1, 2019 Annual Improvements to IFRSs (2015-2017 Cycle) January 1, 2019 IFRS 15 is intended to introduce a single framework for revenue recognition and clarify principles of revenue recognition. This standard modifies the determination of when to recognize revenue and how much revenue to recognize. The core principle is that an entity recognizes revenue to depict the transfer of promised goods and services to the customer of an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Management have completed an assessment of the existing gold sale contract and, based on the analysis performed, do not anticipate any material impact to the recognition of revenue upon adoption of this standard based on the existing arrangements at their operations. IFRS 16 introduces a single lease accounting model. This standard requires lessees to account for all leases under a single on-balance sheet model. Under the new standard, a lessee is required to recognize all lease assets and liabilities on the balance sheet; recognize amortization of leased assets and interest on lease liabilities over the lease term; and separately present the principal amount of cash paid and interest in the cash flow statement. The requirements of IFRS 16 extend to certain service contracts, such as mining contractors in which the contractor provides services and the use of assets, which may impact the group. Accordingly, the group have initiated a review of relevant contracts to complete an impact assessment in 2018. IFRS 9 “Financial instruments” addresses the classification and measurement of financial assets and financial liabilities. The complete version of IFRS 9 was issued in July 2014. It replaces the guidance in IAS 39 that relates to the classification and measurement of financial instruments. IFRS 9 retains but simplifies the mixed measurement model and establishes three primary measurement categories for financial assets: amortized cost, fair value through other comprehensive income (OCI) and fair value through profit or loss. The basis of classification depends on the entity’s business model and the contractual cash flow characteristics of the financial asset. Investments in equity instruments are required to be measured at fair value through profit or loss with the irrevocable option at inception to present changes in fair value in OCI. There is now a new expected credit loss model that replaces the incurred loss impairment model used in IAS 39 and will apply to loans to joint ventures although the impact is not expected to be material. It is noted that value added tax (TVA) receivables are outside the scope of this standard. For financial liabilities there were no significant changes to classification and measurement except for the recognition of changes in credit risk in other comprehensive income, for liabilities designated at fair value through profit or loss. Contemporaneous documentation is still required but is different to that currently prepared under IAS 39. The consolidated financial information includes the financial statements of the Company, its subsidiaries and the Company’s equity accounted joint ventures using uniform accounting policies for similar transactions and other events in similar circumstances. Subsidiaries are entities over which the group has power, exposure, or rights, to variable returns from its involvement and the ability to use its power over the investee to affect the amount of the group's returns; generally accompanying an interest of more than one-half of the voting rights. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. The purchase method of accounting is used to account for the acquisition of subsidiaries by the group. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. Acquisition costs are expensed. Identifiable assets acquired (including mineral property interests or other identifiable intangible assets) and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the cost of acquisition over the fair value of the group’s share of the identifiable net assets acquired is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the statement of comprehensive income. Intercompany transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. The group holds interests in one joint venture. In a joint venture the parties that have joint control of the arrangement (the joint venturer) have a right to the net assets of the arrangement. This right is accounted for in the consolidated financial statements using the equity method. Joint control is considered to exist when there is contractual joint control; control being the power to govern the financial and operating policies of an entity so as to obtain benefits from the activities and the ability to use its power over the investee to affect the amounts of the group’s returns by the joint venturers. Acquisitions Except for initial recognition under IFRS 11 transition rules, further investments in additional joint ventures are initially recognized at cost. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued or liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the acquisition. Goodwill on associated companies and joint ventures represents the excess of the cost of acquisition of the associate or joint venture over the group’s share of the fair value of the identifiable net assets of the associate or joint venture and is included in the carrying amount of the investment. Joint ventures are accounted for using the equity method of accounting. In applying the equity method of accounting, the group’s share of its joint ventures’ post-acquisition profits or losses are recognized in profit or loss and its share of post-acquisition other comprehensive income is recognized in other comprehensive income. These post-acquisition movements and distributions received from the joint venture companies are adjusted against the carrying amount of the investments. When the group’s share of losses in a joint venture company equals or exceeds its interest in the joint venture company, including any other unsecured non-current receivables, the group does not recognize further losses, unless it has obligations to make or has made payments on behalf of the joint venture company. Unrealized gains on transactions between the group and its joint venture companies are eliminated to the extent of the group’s interest in the joint venture companies. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Trading receivables and payables with joint ventures are classified within trade and other receivables and payables. The accounting policies of joint venture companies have been changed where necessary to ensure consistency with the accounting policies adopted by the group. Dividends received are classified as operating cash flows in the consolidated cash flow statement. The carrying value of the investment in joint venture is compared to the recoverable amounts whenever circumstances indicate that the net book value may not be recoverable. An impairment is recognized in the profit or loss to the extent that the carrying value exceeds the recoverable amount. An operating segment is a group of assets and operations engaged in performing mining or advanced exploration that are subject to risks and returns that are different from those of other segments. Other parts of the business are aggregated and treated as part of a ‘corporate and exploration’ segment. The group provides segmental information using the same categories of information which the group’s chief operating decision maker utilizes. The group’s chief operating decision maker is considered by management to be the board of directors. The group has only one business segment, being that of gold mining. Segment analysis is based on the mining operations and exploration projects that have a significant amount of capitalized expenditure or other fixed assets. Functional and presentation currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in US dollars, which is also the functional currency of the Company and its significant subsidiaries and joint ventures. Transactions and balances Foreign currency transactions are translated into the relevant functional currency using the exchange rates prevailing at the date of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of comprehensive income in other income and other expenses. Mineral properties Mineral properties acquired are recognized at fair value at the acquisition date. Mineral properties are recognized at fair value if acquired as part of a business combination, whereas they are recognized at cost if acquired as an asset. Mineral properties are tested annually for impairment on the same basis that property, plant and equipment are when there is an indication of impairment. Mineral properties are amortized on units of production basis from the point at which the mine commences production (refer to ‘depreciation and amortization’ policy below). Long-lived assets and mine development costs Long-lived assets including development costs and mine plant facilities (such as metallurgical plant, tailings and raw water dams, power plant and mine infrastructure) are initially recorded at cost. Development of ore bodies includes the development cost of shaft systems and waste rock removal that allows access to reserves that are economically recoverable in the future. Cost associated with underground development are capitalized when the works provide access to the ore body, whereas costs associated with ore extraction from operating ore body sections are treated as operating costs. Where relevant the estimated cost of dismantling the asset and remediating the site is included in the cost of property, plant and equipment, subsequently they are measured at cost less accumulated amortization and impairment. Development costs consist primarily of direct expenditure incurred to establish or expand productive capacity. Costs are capitalized during the construction of a new mine until commercial levels of production are achieved (refer to ?commercial production’ below), after which the relevant costs are amortized. Costs are capitalized provided that the project is considered to be commercially, technically and economically viable. Such viability is deemed to be achieved when the group is confident that the project will provide a satisfactory return relative to its perceived risks and is sufficiently certain of economic production. Costs which are necessarily incurred while commissioning new assets, in the period before they are capable of operating in the manner intended by management, are capitalized under ‘Long-lived assets and mine development costs’. Development costs incurred after the commencement of production are capitalized to the extent they are expected to give rise to a future economic benefit. Commercial production When a mine construction project is substantially complete and ready for its intended use the asset moves into the production stage, the capitalization of certain mine construction costs ceases and subsequent costs are either regarded as inventory or expensed, except for capitalizable costs related to subsequent mining asset additions or improvements, underground mine development or ore reserve development. The commissioning of an underground mine typically occurs in phases, with sections brought into production while deeper levels remain under construction. The shared infrastructures, such as declines of shafts, are assessed to determine whether they contribute to the production areas. Where they contribute to production, the attributable costs are transferred to production assets and start to be depreciated. The costs transferred comprise costs directly attributable to producing zones or, where applicable, estimates of the portion of shared infrastructure that are attributed to the producing zones. Development expenditure approval Development activities commence after project sanctioning by the appropriate level of management. Judgment is applied by management in determining when a project has reached a stage at which economically recoverable reserves exists such that development may be sanctioned. In exercising this judgment, management is required to make certain estimates and assumptions similar to those described below for capitalized exploration and evaluation expenditure. Any such estimates and assumptions may change as new information becomes available. Stripping costs In surface mining operations, the group may find it necessary to remove waste materials to gain access to mineral ore deposits prior to and after production commences. This waste removal activity is known as ‘stripping’. Prior to production commencing from a pit, stripping costs are measured internally and capitalized until the point where the overburden has been removed and access to the ore commences. Subsequent to production, waste stripping continues, either as part of ore extraction as a run of mine activity or due to strategic decisions such as pit push-back campaigns. There are two benefits accruing to the group from stripping activity during the production phase: usable ore that can be used to produce inventory and improved access to further quantities of material that will be mined in future periods. Economic ore extracted during this period and subsequently is accounted for as inventory. The production stripping costs relating to improved access to further quantities in future periods are capitalized as a stripping activity asset, if and only if, all of the following are met: · it is probable that the future economic benefit (improved access to the ore body) associated with the stripping activity will flow to the group; · the group can identify the component of the ore body for which access has been improved; and · the costs relating to the stripping activity associated with that component or components can be measured reliably. In determining the relevant component of the ore body for which access is improved, the group componentizes its mine into geographically distinct ore body sections or phases to which the stripping activities being undertaken within that component are allocated. Such phases are determined based on assessment of factors such as geology and mine planning. Once determined that any portion of the production stripping costs should be capitalized, the group typically uses the average stripping ratio of the component or phase of the mine to which the production stripping cost related to determine the amount of the production stripping costs that should be capitalized, unless the direct costs of stripping activity can be separately identified in which case such costs are capitalized. The group depreciates the deferred costs capitalized as stripping assets on a unit of production method, with reference to the ex-pit ore production from the relevant ore body component or phase. Short-lived assets Short-lived assets including non-mining assets are shown at cost less accumulated depreciation and impairment. Depreciation and amortization Long-lived assets include mining properties, such as metallurgical plant, tailings and raw water dams, power plant and mine infrastructure, as well as mine development costs and are depreciated on a unit of production basis. Depreciation and amortization are charged over the life of the mine (or over the remaining useful life of the asset, if shorter) based on estimated ore tonnes contained in proven and probable reserves to be extracted using the relevant asset, to reduce the cost to estimated residual values. No future capital expenditure is included in the depreciable value. Proven and probable ore reserves reflect estimated quantities of economically recoverable reserves, which can be recovered in the future from known mineral deposits. Only proven and probable reserves are used in the tonnes milled units of production depreciation calculation. Any changes to the expected life of the mine (or asset) are applied prospectively in calculating depreciation and amortization charges. Depreciation of construction and development costs commences when commercial production is achieved, as detailed above. Underground development costs that are attributable to the commissioned sections of an underground mine are depreciated from the date the development provides access to operational areas and ore extraction begins from those areas. Other assets under construction, such as plant improvement projects, are depreciated from the date they are commissioned, based on assessment by the group’s engineers. Short-lived assets which include motor vehicles, office equipment and computer equipment are depreciated over estimated useful lives of between two to five years but limited to the remaining mine life. Residual values and useful lives are reviewed, and adjusted if appropriate, at each statement of financial position date. Changes to the estimated residual values or useful lives are accounted for prospectively. Depreciation starts when the assets are ready and available for use. Impairment The carrying amount of the property, plant and equipment of the group is compared to the recoverable amount of the assets whenever events or changes in circumstances indicate that the net book value may not be recoverable. The recoverable amount is the higher of value in use and the fair value less cost to sell. In assessing the value in use, the expected future cash flows from the assets is determined by applying a discount rate to the anticipated risk adjusted future cash flows. The discount rate used is derived from the group’s weighted average cost of capital adjusted for asset specific factors as applicable. An impairment is recognized in the profit or loss to the extent that the carrying amount exceeds the assets’ recoverable amount. Only proven and probable reserves are used in the calculations and the models use the approved mine plan and exclude capital expenditure which enhance the assets or extractable ore tonnes outside of such approved mine plan. The revised carrying amounts are depreciated in line with group accounting policies. A previously recognized impairment loss is reversed if the recoverable amount increases as a result of a reversal of the conditions that originally resulted in the impairment. This reversal is recognized in the profit or loss and is limited to the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized in prior years. Assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units) for purposes of assessing impairment. The estimates of future discounted cash flows are subject to risks and uncertainties including the future gold price. It is therefore reasonably possible that changes could occur which may affect the recoverability of property, plant and equipment. Inventories include ore stockpiles, gold in process and doré, and supplies and spares and are stated at the lower of cost or net realizable value. The cost of ore stockpiles and gold produced is determined principally by the weighted average cost method using related production costs. Costs of stockpiles include costs incurred up to the point of stockpiling, such as mining and grade control costs, but exclude future costs of production. Ore extracted is allocated to separate stockpiles based on estimated grade, with grades below defined cut-off levels treated as waste and expensed. While held in physically separate stockpiles, the group blends the ore from each stockpile when feeding the processing plant to achieve the resultant gold content. In such circumstances, lower and higher grade ore stockpiles each represent a raw material, used in conjunction with each other, to deliver overall gold production, as supported by the relevant feed plan. Kibali’s high and medium grade ore stockpile is above 1.53 0.99 The processing of ore in stockpiles occurs in accordance with the Life of Mine (LOM) processing plan that has been optimized based on the known mineral reserves, current plant capacity and mine design. Ore tonnes contained in the stockpile which are to be milled as per the mine plan over the period beyond the next twelve months, are classified as non-current in the statement of financial position. Net realizable value of ore stockpiles is determined with reference to estimated contained gold and market gold prices applicable. Ore stockpiles which are blended together or with future ore mined when fed to the plant are assessed as an input to the gold production process to ensure the combined stockpiles are carried at the lower of cost and net realizable value. Ore stockpiles which are not planned to be blended in production are assessed separately to ensure they are carried at the lower of cost and net realizable value, although no such stockpiles are currently held. Costs of gold inventories include all costs incurred up until production of an ounce of gold such as milling costs, mining costs and directly attributable mine general and administration costs but exclude transport costs, refining costs and royalties. Net realizable value is determined with reference to estimated contained gold and market gold prices. Stores and materials consist of consumable stores and are valued at weighted average cost after appropriate impairment of redundant and slow moving items. Consumable stock for which the group has substantially all the risks and rewards of ownership are brought onto the statement of financial position as current assets. Interest is recognized on a time proportion basis, taking into account the principal outstanding and the effective rate over the period to maturity. Borrowing cost is expensed as incurred except to the extent that it relates directly to the construction of property, plant and equipment during the time that is required to complete and prepare the asset for its intended use, when it is capitalized as part of property, plant and equipment. Borrowing costs are capitalized as part of the cost of the asset where it is probable that the asset will result in economic benefit and where the borrowing cost can be measured reliably. No interest or borrowing costs have been capitalized during the year or during the prior year. Royalty arrangements based on mineral production are in place at each operating mine. The primary type of royalty is a net smelter return royalty. Under this type of royalty the group pays the holder an amount calculated as the royalty percentage multiplied by the value of gold production at market gold prices less selling costs. A royalty expense is recorded when revenue from the sale of gold is recognized. Financial instruments are measured as set out below. Financial instruments carried on the statement of financial position include cash and cash equivalents, trade and other receivables, trade and other payables, available for sale financial assets, loans to joint ventures and loans to minorities. Cash and cash equivalents Cash and cash equivalents are carried in the statement of financial position at cost. For the purpose of the cash flow statement, cash and cash equivalents comprise cash on hand, deposits held at call with banks, other short term highly liquid investments with a maturity of three months or less at the date of purchase and bank overdrafts. In the statement of financial position, bank overdrafts are included in borrowings in current liabilities. Trade and other receivables Trade and other receivables are recognized initially at fair value. There is a rebuttable presumption that the transaction price is fair value unless this could be refuted by reference to market indicators. Subsequently, trade and other receivables are measured at amortized cost using the effective interest method, less provision for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganization, and default or delinquency in payments are considered indicators that the trade receivable may be impaired. The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. Value added tax (TVA) TVA receivables are recognized initially at cost. Subsequently, TVA receivables are measured at amortized cost using the effective interest method, less provision for impairment. The group assesses at each reporting period whether there is an indication that these receivables may be impaired taking into account the risk of non-collectability and timing of receipt. Available-for-sale financial assets Available-for-sale financial assets are non-derivatives that are either designated in this category or not classified in any of the other categories. Available-for-sale financial assets are designated on acquisition. They are normally included in current assets and are carried at fair value. Where a decline in the fair value of an available-for-sale financial asset constitutes objective evidence of impairment, the amount of the loss is recognized in the statement of comprehensive income within other expenses, other movements in fair value are recognized in other reserves within other comprehensive income. Loans and borrowings (including bank borrowings when applicable, loans from joint venture partners and related companies and finance leases) Borrowings are recognized initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the statement of comprehensive income over the period of the borrowings using the effective interest method. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least 12 months after the statement of financial position date. Trade and other payables Accounts payable and other short term monetary liabilities, are initially recognized at fair value, which equates to the transaction price, and subsequently carried at amortized cost using the effective interest method. The net present value of estimated future rehabilitation costs is provided for in the financial statements and capitalized within property, plant and equipment on initial recognition. Rehabilitation will generally occur on closure or after closure of a mine. Initial recognition is at the time of the construction or disturbance occurring and thereafter as and when additional construction or disturbances take place. The estimates are reviewed annually to take into account the effects of inflation and changes in estimated risk adjusted rehabilitation works cost and are discounted using rates that reflect the time value of money. Annual increases in the provision due to the unwinding of the discount are recognized in the statement of comprehensive income as a finance cost. The present value of additional disturbances and changes in the estimate of the rehabilitation liability are recorded to mining assets against an increase/decrease in the rehabilitation provision. The rehabilitation asset is amortized as noted previously. Rehabilitation projects undertaken, included in the estimates, are charged to the provision as incurred. Environmental liabilities, other than rehabilitation costs, which relate to liabilities arising from specific events, are expensed when they are known, probable and may be reasonably estimated. Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. Current tax is the tax expected to be payable on the taxable income for the year calculated using rates (and laws) that have been enacted or substantively enacted by the reporting date. It includes adjustments for tax expected to be payable or recoverable in respect of previous periods. Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, if the temporary difference arises from initial recognition of an

Key accounting estimates and ju

Key accounting estimates and judgments	12 Months Ended
	Dec. 31, 2017
Disclosure of accounting judgements and estimates [text block]	Key accounting estimates and judgments Some of the accounting policies require the application of significant judgment by management in selecting the appropriate assumptions for calculating financial estimates or determining the appropriate accounting treatment for a transaction. By their nature, these judgments are subject to an inherent degree of uncertainty and are based on historical experience, terms of existing contracts, management’s view on trends in the gold mining industry and information from outside sources. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. TVA (value added tax) Included in trade and other receivables are TVA receivables (note 7) of $ 114.4 55.1 89.4 96.5 6.4 Profit forecasts for Loulo and Gounkoto, using approved budgets and mine plans, supports recovery of the balance through such offsetting by 2019 (2016: 2017) (2015: 2017), although the recovery and timing is subject to estimates of factors such as gold price and production. The gold price is consistent with that used in the group’s impairment tests detailed below. Judgment was required in assessing the recoverability of these amounts and timing thereof. A discounting provision of $ 2.5 1.4 2.9 A further $ 70.2 64.9 61.8 45 7.0 40 5.0 6.3 The group continues to seek recovery of TVA in the DRC, in line with the Mining Code and the carrying value of the receivable has been assessed considering factors such as the level of receipts in the period and to date, relationships and communications with government officials and the tax authority and the limited quantum of disputed submissions. Judgment exists in assessing recovery of these receivables. While the TVA balance is considered collectible, uncertainty exists regarding the timing of receipt. Accordingly, the receivable has been discounted by $ 8.1 7.8 45 10 2 A 1% change in the discount rate would increase the provision by $0.5 million (at 45% attributable share). 3.6 Malian tax disputes The International Center for Settlement of Investment Disputes’ (ICSID) arbitration tribunal issued its final and binding award in 2016, resulting in Loulo being awarded $ 29.2 200.5 Having taken professional advice, the group considers the material elements of the outstanding claims to be without merit or foundation and is strongly defending its position in relation to these claims and following the appropriate legal process. Accordingly, no provision has been made for the material claims and the likelihood of a material outflow of economic benefits in respect of such claims are considered improbable under IFRS. In forming this assessment, the Board have considered the professional advice received, the legally binding mining convention with the State of Mali, the findings of the previous ICSID arbitration tribunal and the facts and circumstances of each individual claim. Loulo, Gounkoto and Morila have each legally binding establishment conventions which guarantee fiscal stability, govern the taxes applicable to the companies and allow for international arbitration in the event a dispute cannot be resolved in the country. Management continues to engage with the Malian authorities at the highest level to resolve these outstanding fiscal issues. During the third quarter of 2016, the group received payment demands for these disputed amounts, and while it was engaged with the authorities on these demands, its office in Bamako was closed by the authorities but subsequently reopened in October 2016. During October 2016, the group paid tax advances to the State of Mali in the amount of $ 25.0 Recovery of deferred tax assets Management have recognized a deferred tax asset of $ 43.2 100 11.1 The group considers the deferred tax assets to be recoverable owing to the latest life of mine plan which estimates the asset being utilized within three years. The gold price would have to fall below $ 1,040 Carrying values of property, plant and equipment and joint venture investments The group assesses at each reporting period whether there is any indication that these assets may be impaired. If such indication exists, the group estimates the recoverable amount of the asset. The recoverable amount is assessed by reference to the higher of ‘value in use’ (being the net present value of expected future cash flows of the relevant cash generating unit) and ‘fair value less cost to sell’. The estimates used for impairment reviews are based on detailed approved mine plans and operating plans. Future cash flows are based on estimates of: • The quantities of the proven and probable reserves being those for which there is a high degree of confidence in economic extraction; • Future production levels; • Future commodity prices, including oil forecast at $ 70 60 60 • Future cash cost of production and capital expenditure associated with extraction of the proven and probable reserves in the approved mine plan; • Future gold prices – a gold price curve was used for the impairment calculations starting at a $ 1,250 1,200 1,150 2.5 2 1.5 • A discount rate equivalent to 8.2 8.2 7.9 • An inflation rate of 2.5 2 1.5 The impairment tests did not indicate impairment and head room existed at each mine. Given the significance of gold prices and the longevity of mine plans, the directors consider gold price and discount rate sensitivities to be relevant. A reduction in forward gold prices in excess of 20.4 18.7 However, having considered such scenarios, the directors remain satisfied that no impairment is appropriate. The models are considered suitably conservative with proven and probable reserves determined based on $ 1,000 1,000 1,000 Capitalization and depreciation There are several methods that could be adopted for calculating depreciation, i.e. the straight line method, the production method using ounces produced and the production method using tonnes milled. The directors believe that the tonnes milled method is the best indication of plant and infrastructure usage. Refer to note 2 for the depreciation policy. Estimates are required regarding the allocation of assets to relevant proven and probable reserves in the unit of production calculations, with assessments involving the group’s mining, capital and geology departments. Proven and probable reserves are used in each depreciation calculation, which is considered to be a suitably conservative measure of the future ore extractable using existing assets. Expenditure incurred to date in underground infrastructure development considered to have been commissioned, is depreciated over the remaining proven and probable reserves of the underground mine, as the infrastructure provides access to the future mining areas. The group applies judgment in allocating costs between operating and capital items in respect of underground mining and in determining the date depreciation commences. Costs are capitalized when the activity provides access to future ore bodies and are expensed as operating costs when the works involve extraction of ore from operational sections of the orebody. The nature of activity is assessed based on information provided by contractors, together with inspections by the group’s mining teams where contractor mining is used. The nature of activity is assessed by the group’s mining teams where owner mining applies. Direct labor, materials and other costs are specifically allocated based on the activity performed. Indirect costs that are attributable to underground works are allocated between capital and operating expenses based on factors such as development versus operating meters. Specifically, judgment is required in determining the point at which assets under construction at Kibali began commercial production and should be depreciated. Depreciation start dates are determined considering the factors detailed in note 2 and during 2015 Kibali underground mine assets attributable to production started to be depreciated. The commissioning of the underground happens in phases and as the sections are brought into production the attributable costs are transferred and depreciated. Judgment was applied in identifying the costs considered attributable to this production. Additionally, given ongoing mine construction and development, judgment was required in allocating costs between operating costs, ore stockpiles and ongoing capital works. Costs have been allocated based on the underlying activity and economic benefits. Gold price assumptions $/oz 2017 2016 2015 Morila 1,000 1,000 1,000 Loulo: open pit 1,000 1,000 1,000 Loulo: underground 1,000 1,000 1,000 Tongon 1,000 1,000 1,000 Kibali 1,000 1,000 1,000 Massawa 1,000 1,000 1,000 Gounkoto 1,000 1,000 1,000 Changes in the gold price used could result in changes in the mineral reserve optimization calculations which impact LoM plans. Mine modelling is a complex process and hence it is not feasible to perform sensitivities on gold price assumptions in respect of ore reserves. Determination of ore reserves The group estimates its ore reserves and mineral resources based on information compiled by Competent Persons as defined in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves of December 2012 (the 2012 JORC code). Reserves determined in this way are used in the calculation of depreciation and amortization, as well as the assessment of the carrying value of property, plant and equipment and joint ventures and timing of mine closure obligations. There are numerous uncertainties inherent in estimating ore reserves and assumptions that are valid at the time of estimation may change significantly when new information becomes available. Changes in the forecast prices of commodities, exchange rates, production costs or recovery rates may change the economic status of reserves and may, ultimately, result in the reserves being restated. Future rehabilitation obligations The net present value of current rehabilitation estimates has been discounted to their present value at 2.5 2.5 2.25 6.8 5.3 5.3 0.6 0.5 0.6 Stockpiles, gold in process and product inventories Costs that are incurred in or benefit the productive process are accumulated as stockpiles, gold in process and product inventories. Net realizable value tests are performed at least annually and represent the estimated future sales price of the product based on contained gold and metals prices, less estimated costs to complete production and bring the product to sale. Judgment is required in assessing whether stockpiles of different grades should be tested individually, or tested as inputs to the gold production process, as detailed in the group’s accounting policy. In the current year, the stockpiles were tested for each individual mine, reflecting the planned blended feed of such stockpiles to the mill on the basis that they are blended together and with future ore mined. Stockpile quantities are measured by estimating the number of tonnes added and removed from the stockpile, the number of contained gold ounces based on assay data, and the estimated recovery percentage based on the expected processing method. Stockpile tonnages are verified by periodic surveys. The forecast gold prices and cost escalators were those used in the impairment test detailed above. The net realizable value tests demonstrate significant headroom with no reasonable sensitivity indicating impairment. Post production open cast mine stripping The group capitalizes costs, associated with stripping activity, to expose the orebody, within mining assets (in note 9) with significant stripping costs capitalized in the year at Gounkoto in respect of the super pit project, together with stripping of pits at Kibali included within the equity accounted joint venture (in note 10). Judgment was required in determining the relevant section or phase of the orebody to which stripping activity relates, based on assessment of factors such as mine planning, project feasibility studies, geology of the open cast pits and strategic board decisions such as the pushback campaigns which requires judgment over the eligible costs. The group determined that the stripping activity for the Gounkoto super pit related to the enlarged open pit as a whole based on the improved access to the orebody, following consideration of all relevant facts and circumstances. The group determined that the stripping costs at Kibali are attributable to the individual satellite pits to which improved access was provided. The group subsequently depreciates relevant stripping assets as that section of the orebody is mined, which requires judgment as to the relevant section of the orebody for depreciation. Exploration and evaluation expenditure The group has to apply judgment in determining whether exploration and evaluation expenditure should be capitalized or expensed. Management exercises this judgment based on the results of economic evaluations, technical and financial studies or feasibility studies. Costs are capitalized where those studies conclude that more likely than not the group will obtain future economic benefit from the expenditures. Share-based payments Refer to note 14 for the key assumptions used in determining the value of share-based payments.
Kibali Jersey Limited [member]
Disclosure of accounting judgements and estimates [text block]	2. KEY ACCOUNTING ESTIMATES AND JUDGMENTS Some of the accounting policies require the application of significant judgment by management in selecting the appropriate assumptions for calculating financial estimates or determining the appropriate accounting treatment for a transaction. By their nature, these judgments are subject to an inherent degree of uncertainty and are based on historical experience, terms of existing contracts, management’s view on trends in the gold mining industry and information from outside sources. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are discussed below: VALUE ADDED TAX (TVA) Included in trade and other receivables (refer to note 11) is a recoverable TVA balance (including recoverable TVA on fuel duty and after discounting provisions) of $ 134.5 131.2 137.4 The group continues to seek recovery of TVA in the DRC, in line with the mining code and the carrying value of the receivable has been assessed considering factors such as the level of receipts in the period and to date, relationships and communications with government officials and the tax authority and the limited quantum of disputed submissions. Judgments exist in assessing recovery of these receivables. While the TVA balance is considered collectible uncertainty exists regarding the timing of receipt. Accordingly the receivable has been discounted by $ 17.9 7.8 8.5 2 Management have assumed a recoverable period of 48 months with a reduced level of receipts in the next 12 months. The increase in provision reflects an increase in the discount rate to reflect assessed risk and an extension in the recovery period from 18 months to 48 months. 1 1.1 7.8 CARRYING VALUES OF PROPERTY, PLANT AND EQUIPMENT The group assesses at each reporting period whether there is any indication that these assets may be impaired (refer to note 8 and 9). If such indication exists, the group estimates the recoverable amount of the asset. The recoverable amount is assessed by reference to the higher of ‘value in use’ (being the net present value of expected future cash flows of the relevant cash generating unit) and ‘fair value less cost to sell’. The estimates used for impairment reviews are based on detailed mine and operating plans. Future cash flows are based on estimates of: · the quantities of the proven and probable reserves being reserves for which there is a high degree of confidence in economic extraction; · future production levels; · future commodity prices; including oil forecast at $ 70 60 60 · future cash cost of production and capital expenditure associated with extraction of the proven and probable reserves in the approved mine plan; · future gold prices – a gold price curve was used for the impairment calculations starting at a $ 1,250 1,200 1,150 2.5 2.0 1.5 · a discount rate equivalent to 8.2 7.8 7.9 · an inflation rate of 2.5 2 1.5 A reduction in forward gold prices in excess of 17.0% or an increase in the discount rate to 18.7% is required to give rise to impairment 1,000 1,000 1,000 OPEN CAST MINE STRIPPING The group capitalizes costs, associated with stripping activity, to expose the orebody, within mining assets. Judgment is required in determining the relevant section or phase of the orebody to which stripping activity relates, based on assessment of factors such as mine planning, geology of the open cast pits and strategic board decisions such as the pushback campaigns which requires judgment over the eligible costs. The group capitalized $ 19.2 15.2 12.3 9.6 CAPITALIZATION AND DEPRECIATION There are several methods that could be adopted for calculating depreciation, i.e. the straight line method, the production method using ounces produced and the production method using tonnes milled. The directors believe that the tonnes milled method is the best indication of plant and infrastructure usage. Refer to note 1 for the depreciation policy. Estimates are required regarding the allocation of assets to relevant proven and probable reserves in the units of production calculations, with assessments involving the group’s mining, capital and geology departments. Proven and probable reserves are used in each depreciation calculation, which is considered to be a suitably conservative measure of the future ore extractable using existing assets. Expenditure incurred to date in underground infrastructure development considered to have been commissioned, is depreciated over the remaining proven and probable reserves of the underground mine, as the infrastructure provides access to the future mining areas. The group applies judgment in allocating costs between operating and capital items in respect of underground mining and in determining the date depreciation commences. Costs are capitalized when the activity provides access to future ore bodies and are expensed as operating costs when the works involve extraction of ore from operational sections of the ore body. The nature of activity is assessed based on information provided by contractors, together with inspections by the group’s mining teams. Direct labor, materials and other costs are specifically allocated based on the activity performed. Indirect costs that attributable to underground works are allocated between capital and operating expenses based on factors such as development versus operating meters. Judgment is required in determining the point at which assets under construction at Kibali began commercial production and should be depreciated. Depreciation start dates are determined considering the factors detailed in note 1 and during 2015 Kibali underground mine assets attributable to production started to be depreciated. The commissioning of the underground happens in phases and as the sections are brought into production the attributable costs are transferred and depreciated. Judgment was applied in identifying the costs considered attributable to this production. Additionally, given ongoing mine construction and development, judgment was required in allocating costs between operating costs, ore stockpiles and ongoing capital works. Costs have been allocated based on the underlying activity and economic benefits. GOLD PRICE ASSUMPTIONS Kibali 2017 2016 2015 $/oz 1,000 1,000 1,000 Changes in the gold price used could result in changes in the mineral reserve optimization calculations. Mine modelling is a complex process and hence it is not feasible to perform sensitivities on gold price assumptions in respect of ore reserves. DETERMINATION OF ORE RESERVES The group estimates its ore reserves and mineral resources based on information compiled by Competent Persons as defined in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves of December 2012 (the JORC code). Reserves determined in this way are used in the calculation of depreciation, amortization and impairment charges, as well as the assessment of the carrying value of mining assets. There are numerous uncertainties inherent in estimating ore reserves and assumptions that are valid at the time of estimation may change significantly when new information becomes available. Changes in the forecast prices of commodities, exchange rates, production costs or recovery rates may change the economic status of reserves and may, ultimately, result in the reserves being restated. FUTURE REHABILITATION OBLIGATIONS The net present value of current rehabilitation estimates have been discounted to their present value at 2.5 2.5 2.25 3.2 3.2 1.8 0.2 0.2 0.05 STOCKPILES, GOLD IN PROCESS AND PRODUCT INVENTORIES Costs that are incurred in or benefit the productive process are accumulated as stockpiles, gold in process and product inventories. Net realizable value tests are performed at least annually and represent the estimated future sales price of the product based on contained gold and metals prices, less estimated costs to complete production and bring the product to sale. Judgment is required in assessing whether stockpiles of different grades should be tested individually, or tested as inputs to the gold production process, as detailed in the group’s accounting policy. In the current year, the stockpiles were tested reflecting the planned blended feed of such stockpiles to the mill on the basis that they are blended together and with future ore mined. Stockpile quantities are measured by estimating the number of tonnes added and removed from the stockpile, the number of contained gold ounces based on assay data, and the estimated recovery percentage based on the expected processing method. Stockpile tonnages are verified by periodic surveys. The forecast gold prices and cost escalators were those used in the impairment test detailed above. EXPLORATION AND EVALUATION EXPENDITURE The group has to apply judgment in determining whether exploration and evaluation expenditure should be capitalized or expensed. Management exercises this judgment based on the results of economic evaluations or feasibility studies. Costs are capitalized where those studies conclude that more likely than not the group will obtain future economic benefit from the expenditures. RECOVERY OF DEFERRED TAX ASSETS Management have recognized a deferred tax asset of $ 43.2 11.1 41.9 The group considers the deferred tax assets to be recoverable owing to the latest life of mine plan which estimates the asset being fully utilized within 3 years 1,040

OTHER INCOME AND EXPENSES

OTHER INCOME AND EXPENSES	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of other operating income (expense) [text block]	3. OTHER INCOME AND EXPENSES $000 Dec 31, Dec 31, Dec 31, Other Income from operating activities comprise: Other income 146 136 - Net foreign exchange gains - - 1,657 146 136 1,657 The total other income is not considered to be part of the main revenue generating activities and as such the group presents this income separately from revenue. $000 Dec 31, Dec 31, Dec 31, Other Expenses: Management Fee 4,385 4,296 3,658 Net foreign exchange loss 38,469 36,134 - Discounting provision 12,177 7,820 - 55,031 48,250 3,658 The net foreign exchange loss primarily refers to the retranslation of TVA receivables (refer to note 11) denominated in Congolese Francs which is translated into the US dollar functional currency of the subsidiary. The discounting provision movement relates to TVA receivables (refer to note 2).

MINING AND PROCESSING COSTS

MINING AND PROCESSING COSTS	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of mining and processing costs [Text Block]	4. MINING AND PROCESSING COSTS $000 Dec 31, Dec 31, Dec 31, Mining and processing costs comprise: Mine production costs 232,209 202,323 177,467 Movement in production inventory and ore stockpiles 28,933 (7,389) 8,234 Depreciation and amortization 264,415 210,925 192,509 Other mining and processing costs 173,423 188,863 172,502 698,980 594,722 550,712

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2017
Disclosure of income tax [text block]	Income taxes $000 Note Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Current taxation 135,412 101,546 41,972 Deferred taxation 11 10,395 6,838 6,031 145,807 108,384 48,003 The tax on the group’s profit before tax differs from the theoretical amount that would arise using the statutory tax rate applicable to the group’s operations. Profit before tax 480,854 402,605 260,778 Tax calculated at effective tax rate of 30% 144,256 120,782 78,233 Difference in tax rates in overseas jurisdictions (4,771) (3,513) - Reconciling items: • Income taxed at 0% (17,499) (17,002) (8,483) • Expenses deductible at 0% 12,864 10,947 7,528 Withholding tax adjustment on Tongon dividend 10,908 2,272 - Côte d’Ivoire tax holiday permanent differences - - (7,868) Share of equity accounted joint venture profits (3,585) (5,190) (23,191) Other permanent differences 3,634 88 1,784 Taxation charge 145,807 108,384 48,003 The company is subject to an income tax rate in Jersey at 0 25 7.9 0 0.09 30 0.75 25 0.5 23.1 9.7 11.0
Kibali Jersey Limited [member]
Disclosure of income tax [text block]	7. INCOME TAXES $000 Dec 31, Dec 31, Dec 31, Current taxation - 7,868 8,377 Deferred taxation 10 (54,333) (30,830) 9,463 (54,333) (22,962) 17,840 The tax on the group’s profit before tax differs from the theoretical amount that would arise using the statutory tax rate applicable to the group’s operations. $000 Dec 31, Dec 31, Dec 31, (Loss)/profit before tax (40,349) 26,728 155,825 Tax calculated at the DRC effective tax rate of 30% (12,105) 8,018 46,748 Reconciling items: Exempt income (40,948) (38,922) (34,218) Net capital allowances not deductible - - (157) Other permanent differences (1,280) 74 (2,910) Corporate tax at 1/100 from revenue - 7,868 8,377 Taxation (credit) / charges (54,333) (22,962) 17,840 Kibali (Jersey) Limited is subject to an income tax rate in Jersey at 0 30 7.9 8.4 13.3 520.5 359.4 293.0 30

Share capital and premium

Share capital and premium	12 Months Ended
	Dec. 31, 2017
Disclosure of classes of share capital [text block]	5. Share capital and premium The total authorized number of ordinary shares is 120 120 120 0.05 0.05 0.05 94,124,872 93,803,752 93,232,920 2.00 100 1.00
Kibali Jersey Limited [member]
Disclosure of classes of share capital [text block]	14. SHARE CAPITAL AND PREMIUM The total authorized number of ordinary shares is 10,000 10,000 10,000 10,000 10,000 10,000 4,648 4,620 4,620 Randgold Resources Limited (Randgold) and AngloGold Ashanti Limited (AngloGold Ashanti) are joint venture partners and shareholders of Kibali (Jersey) Limited, having acquired all 4,648 14 15 30 $000 Dec 31, Dec 31, Dec 31, Movement in the number of ordinary shares outstanding: Balance at the beginning of the year 5 5 5 Shares issued - - Balance at the end of the year 5 5 5

Earnings and dividends per shar

Earnings and dividends per share	12 Months Ended
	Dec. 31, 2017
Disclosure Of Earnings Per Share [Abstract]
Disclosure of earnings per share [text block]	6. Earnings and dividends per share Income Shares Per share For the year ended December 31, 2017 Basic earnings per share 93,803,752 Shares outstanding at January 1, 2017 251,010 Weighted number of shares issued 278,017 94,054,762 2.96 Income available to shareholders Effective of dilutive securities Share options 5,257 Restricted shares 1,074,144 Diluted earnings per share 278,017 95,134,163 2.92 For the year ended December 31, 2016 Basic earnings per share Shares outstanding at January 1, 2016 93,232,920 Weighted number of shares issued 411,190 Income available to shareholders 247,474 93,644,110 2.64 Effective of dilutive securities Share options 38,833 Restricted shares 1,110,899 Diluted earnings per share 247,474 94,793,842 2.61 For the year ended December 31, 2015 Basic earnings per share Shares outstanding at January 1, 2015 92,674,085 Weighted number of shares issued 419,607 Income available to shareholders 188,677 93,093,692 2.03 Effective of dilutive securities Share options 77,227 Restricted shares 922,884 Diluted earnings per share 188,677 94,093,803 2.01 Refer to note 14 for details on share options and share awards issued. $ 94.0 1.00 61.7 0.66 55.7 0.60 2.00 188.2 298,238 377,387 470,212 1,506,422 1,655,138 1,766,813

Trade and other receivables

Trade and other receivables	12 Months Ended
	Dec. 31, 2017
Disclosure of trade and other receivables [text block]	7. Trade and other receivables $000 Note Dec 31, 2017 Dec 31, 2016 Trade receivables 17,998 34,099 Advances to contractors 2,638 7,861 Taxation debtors 7.1 142,090 112,684 Prepayments and other receivables 68,999 67,712 Gounkoto advance dividend 7.2 7,602 9,074 Total 239,327 231,430 Less: current portion (184,275) (231,430) Non-current portion 7.1 55,052 - 7.1 The taxation debtors primarily relate to indirect taxes owing to the group by the State of Mali, including TVA balances at Loulo of $ 91.9 61.6 21.9 26.2 21.0 18.5 7.3 6.4 7.2 Refer to note 2 for details of the Gounkoto dividend. The classes within trade and other receivables do not contain impaired assets. The carrying values are considered to approximate fair values. The credit quality of receivables that are not past due or impaired is considered high. The maximum exposure to credit risk at the reporting date is the fair value of each class of receivable mentioned above. The group does not hold any collateral as security although it has the legally binding right to offset TVA balances with other taxation payable in Mali, and exercises this right. Refer to note 17 for further information on the concentration of credit risk. The terms of payment of trade receivables are less than seven days, advances to contractors 30 days.
Kibali Jersey Limited [member]
Disclosure of trade and other receivables [text block]	11. TRADE AND OTHER RECEIVABLES $000 Dec 31, Dec 31, Dec 31, Advances to contractors 2,280 6,070 5,238 Trade receivables 28,295 1,497 850 Prepayments and other receivables 21,544 24,239 37,501 Loan to SOKIMO (refer to note 26) 18,827 17,381 16,046 Other loans 8,360 3,081 5,231 TVA receivables 134,514 131,214 137,369 Hire purchase loans 4,465 10,978 11,277 218,285 194,460 213,512 Less: Non-current portion Loan to SOKIMO 18,827 17,381 16,046 Other loans and receivables (including TVA receivables) 105,768 65,616 10,445 Hire purchase loans 699 4,438 6,297 125,294 87,435 32,788 Current portion 92,991 107,025 180,724 $000 Dec 31, Dec 31, Dec 31, Gross hire purchase loans – minimum lease payments: No later than 1 year 3,766 6,540 4,980 Later than 1 year and no later than 5 years 699 4,438 6,297 Later than 5 years - - - Gross investment on hire purchase loans 4,465 10,978 11,277 The fair values of trade and other receivables classified as loans and receivables are approximate to the carrying value. The classes within trade and other receivables do not contain impaired assets however TVA receivables and TVA and duties on fuel balances have been discounted with a provision of $ 17.9 7.8 The terms of payment of trade receivables is less than seven days, advances to contractors 30 days and TVA is recoverable under the mining code once submissions are approved. The group continues to seek recovery of TVA in line with the mining code. Judgment exists in assessing recovery of this amount. See note 2 for further detail. The loan to SOKIMO bears interest at 8 The hire purchase loans, receivable from a contractor, bear interest at the aggregate of 10 0.75 3 The balance of “other loans” includes loans to related parties of $ 0.9 1.1

Inventories and ore stockpiles

Inventories and ore stockpiles	12 Months Ended
	Dec. 31, 2017
Disclosure of inventories [text block]	8. Inventories and ore stockpiles $000 Dec 31, 2017 Dec 31, 2016 Consumable stores 100,992 100,530 Stockpiles 162,468 172,541 Gold in process 12,871 10,662 Total inventories and ore stockpiles 276,331 283,733 Less: current portion (116,797) (119,027) Non-current portion 159,534 164,706 All inventory and ore stockpiles are stated at the lower of cost or net realizable value. Non-current ore stockpiles reflect ore tonnes not planned to be processed within the next 12 months.
Kibali Jersey Limited [member]
Disclosure of inventories [text block]	12. INVENTORIES AND ORE STOCKPILES $000 Dec 31, Dec 31, Dec 31, Gold on hand 8,970 16,041 5,385 Consumables stores 43,728 43,363 39,782 Ore stockpiles 29,869 52,332 70,874 Gold in process 3,443 4,540 5,719 86,010 116,276 121,760 Less: Non-current portion Ore stockpiles 12,779 43,771 43,162 Current portion 73,231 72,505 78,598 All inventory and ore stockpiles are stated at the lower of cost or net realizable value. Non-current ore stockpiles reflect ore tonnes not planned to be processed within the next 12 months.

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2017
Disclosure of property, plant and equipment [text block]	9. Property, plant and equipment $000 Dec 31, 2017 Dec 31, 2016 Mine properties, mine development costs and mine plant facilities and equipment cost At the beginning of year 2,462,421 2,272,985 Additions 199,324 189,436 2,661,745 2,462,421 Accumulated depreciation and amortization At beginning of year 901,561 726,218 Charge for the year 182,900 175,343 1,084,461 901,561 Net book value 1,577,284 1,560,860 Long-lived assets Included in property, plant and equipment are long-lived assets which are amortized on a unit of production basis as detailed in note 2 and comprise the metallurgical plants, tailings and raw water dams, power plants and mine infrastructure and development costs. The net book value of these assets was $1,462.9 million at December 31, 2017 (2016: $1,553.5 million) (2015: $1,535.4 million). Short-lived assets Included in property, plant and equipment are short-lived assets which are amortized over their useful lives and are comprised of motor vehicles and other equipment. The net book value of these assets was $ 95.4 6.0 7.7 Undeveloped property Included in property, plant and equipment are undeveloped property costs of $ 1.2 1.4 1.7 Post production stripping Property, plant and equipment include capitalized stripping costs, related to the production phase of opencast mining. The net book value at December 31, 2017 was $ 17.8 2.0 Remaining maximum estimated useful lives by mine Dec 31, 2017 Dec 31, 2016 The remaining maximum estimated useful lives in respect of proven and probable reserves for each mine included above is as follows: Loulo 12 years Gounkoto 10 years 10 years Tongon 4 years 4 years
Kibali Jersey Limited [member] | Mining assets [member]
Disclosure of property, plant and equipment [text block]	$000 Dec 31, Dec 31, Dec 31, Mine properties, mine development costs and mine plant facilities and equipment cost Cost Balance at the beginning of the year 2,475,924 2,266,854 1,989,757 Additions 246,406 209,070 277,097 Balance at the end of the year 2,722,330 2,475,924 2,266,854 Accumulated depreciation Balance at the beginning of the year (407,617) (254,551) (121,620) Depreciation charged for the year (206,995) (153,067) (132,931) Balance at the end of the year (614,612) (407,618) (254,551) Net book value 2,107,718 2,068,306 2,012,303 Long-lived assets and development costs Included in plant and equipment are long-lived assets and development costs which are amortized on a units of production basis as detailed in note 2 and include mining properties, such as processing plants, tailings facilities, raw water dams and power stations, as well as mine development costs. The net book value of these assets was $ 2,023 1,997 229.9 507.0 454.3 Short-lived assets Included in property, plant and equipment are short-lived assets which are depreciated over a short life which reflects their likely useful economic life and are comprised of motor vehicles, computer equipment, aircrafts and fixtures and fittings. The net book value of these assets was $ 51.6 7.9 5.8 Rehabilitation asset A rehabilitation asset has been recognized relating to the rehabilitation liability to the value of $ 17.2 17.1 13.0 Leased assets The net carrying amount of property, plant and equipment includes the following amount in respect of assets held under finance lease (refer to note 19): $000 Dec 31, Dec 31, Dec 31, Finance Lease Mining Assets 16,627 46,153 53,908 KAS 1 Limited (KAS) is an asset leasing joint venture in which the group has a 50.1

MINERAL PROPERTIES

MINERAL PROPERTIES	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member] | Mining property [member]
Disclosure of mineral properties explanatory [text block]	9. MINERAL PROPERTIES $000 Dec 31, Dec 31, Dec 31, Cost At the beginning and end of the year 745,092 745,092 745,092 Amortization At the beginning of the year (168,556) (110,698) (51,120) Charge for the year (57,419) (57,858) (59,578) At the end of the year (225,975) (168,556) (110,698) Net book value 519,117 576,536 634,394 Mineral properties represent the amounts attributable to license interest on the purchase of Moto Goldmines Limited (Moto) in 2009. The balance has been amortized over the life of mine on a unit of production basis since the group commenced commercial production on October 1, 2013.

Investments and loans in subsid

Investments and loans in subsidiaries and joint ventures	12 Months Ended
	Dec. 31, 2017
Disclosure of interests in other entities [text block]	10. Investments and loans in subsidiaries and joint ventures The joint venture agreements and structures for Kibali and Morila, together with the asset leasing joint ventures (KAS 1 Limited, RAL 1 Limited and RAL 2 Limited) provide the group with interests in the net assets of those companies, rather than interests in underlying assets and obligations. Accordingly, under IFRS 11, the group’s share of joint ventures has been accounted for using the equity method. The following tables represent the group’s share of the assets and liabilities of the respective joint venture which are included in the consolidated balance sheet and statement of comprehensive income within the total investments in joint ventures, share of profits of equity accounted joint ventures and share of equity accounted joint ventures’ other comprehensive income. Investment in joint ventures $000 Dec 31, 2017 Dec 31, 2016 Beginning of year Investments in equity accounted joint ventures 1,414,211 1,427,316 Other investments in joint venture 34,423 45,940 Total investments in joint ventures 1,448,634 1,473,256 Funds invested in equity accounted joint ventures 30,898 - Loans repaid by equity accounted joint ventures (746) (11,927) Share of profits of equity accounted joint ventures 11,950 17,299 Dividends - (30,000) Share of other comprehensive income of joint ventures (17) 6 End of year Investments in equity accounted joint ventures 1,440,610 1,414,211 Other investments in joint ventures 50,109 34,423 Total investments in joint ventures 1,490,719 1,448,634 Kibali (Jersey) Limited $000 Dec 31, 2017 Dec 31, 2016 Summarized statement of financial position Current Cash and cash equivalents 3,288 18,865 Other current assets (excluding cash) 166,278 179,588 Total current assets 169,566 198,453 Financial liabilities (excluding trade payables) (8,656) (10,285) Other current liabilities (including trade payables) (105,565) (133,113) Total current liabilities (114,221) (143,398) Non-current Assets 2,833,946 2,805,020 Financial liabilities (41,210) (46,929) Other liabilities (23,244) (32,259) Total non-current liabilities (64,454) (79,188) Net assets 2,824,837 2,780,887 $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Summarized statement of comprehensive income Revenue 754,852 709,372 747,272 Depreciation and amortization (264,415) (210,925) (192,509) Interest income 4,147 4,735 4,818 Interest expense (5,478) (5,298) (5,376) Profit before tax (40,349) 26,728 155,825 Income tax 54,333 22,962 (17,840) Post-tax profit 13,984 49,690 137,985 Other comprehensive income—gain on available for sale financial asset - - 3,144 $000 Dec 31, 2017 Dec 31, 2016 Reconciliation of the group’s summarized financial information presented to the carrying amount of the group’s interest in the Kibali joint venture Opening net assets January 1 2,780,887 2,791,184 Profit for the period 13,984 49,690 (Loss)/gain on available-for-sale financial asset (34) 13 Other comprehensive income (34) 13 Funds advanced 30,000 - Dividends received - (60,000) Closing net assets 2,824,837 2,780,887 Interest in joint venture at 50% 1,412,419 1,390,443 Mineral property at acquisition 23,549 26,154 Adjustment to reflect attributable interest 8,793 1,565 Carrying value 1,444,760 1,418,162 The segmental report in note 16 presents information based on the group’s effective 45 50 The group’s effective interest in Kibali is 45%. The group holds a 50% joint venture interest in Kibali (Jersey) Limited with AngloGold Ashanti. Joint control is provided through shareholdings and the joint venture agreement. Kibali (Jersey) Limited holds an effective 90 Kibali (Jersey) Limited has made loans indirectly to Kibali Goldmines SA totalling $2.7 billion at year end (December 31, 2016: $2.5 billion), to fund the development of the mine. The loans are eliminated on consolidation at the Kibali (Jersey) Limited level. Consequently, Kibali (Jersey) Limited will receive 100% of the cash flows from Kibali Goldmines SA, until the loans have been repaid. The loans carry interest at the rate of 8% per annum. Note that the KAS 1 Limited asset leasing joint venture in which the group has an effective 25.01 Morila Set out below is the summarized financial information for Morila which is accounted for using the equity method (amounts stated at 100% before intercompany eliminations). $000 Dec 31, 2017 Dec 31, 2016 Summarized statement of financial position Current Cash and cash equivalents 86 8,569 Other current assets (excluding cash) 54,126 49,804 Total current assets 54,212 58,373 Other current liabilities (including trade payables) (20,787) (53,484) Total current liabilities (20,787) (53,484) Non-current Assets 14,851 15,493 Other liabilities (41,562) (25,315) Total non-current liabilities (41,562) (25,315) Net liabilities (5,172) (4,933) $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Summarized statement of comprehensive income Revenue 86,073 65,086 142,992 Depreciation and amortization (16,480) (9,464) (23,337) Interest income 18 14 2 Interest expense (1,080) (806) (999) Loss before tax (239) (16,256) 24,856 Income tax - (1,543) (7,455) Post-tax loss (239) (17,799) 17,401 Other comprehensive expense - - - Total comprehensive expense (239) (17,799) 17,401 Dividends received from joint venture - - 25,680 $000 Dec 31, 2017 Dec 31, 2016 Reconciliation of the summarized financial information presented to the carrying amount of the group’s interest in the Morila joint venture Summarized financial information Opening net (liabilities)/assets January 1 (4,933) 12,866 Loss for the period (239) (17,799) Closing net liabilities (5,172) (4,933) Interest in joint venture at 40% (2,069) (1,973) Carrying value (2,069) (1,973) Refer to note 1 for the nature of operations, country of incorporation and the ownership interest in Morila. Joint control exists through the joint venture agreement with AngloGold Ashanti. $000 Dec 31, 2017 Dec 31, 2016 Summarized statement of financial position Current Cash and cash equivalents 8,820 649 Other current assets (excluding cash) 805 632 Total current assets 9,625 1,281 Other current liabilities (including trade payables) (19,237) (6,318) Total current liabilities (19,237) (6,318) Non-current Assets 32,474 9,417 Financial liabilities (21,351) (3,517) Total non-current liabilities (21,351) (3,517) Net assets 1,511 863 $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Summarized statement of comprehensive income Revenue 5,186 5,133 1,463 Depreciation and amortization (3,647) (4,211) (779) Interest income 554 544 1 Interest expense (1,018) (650) (354) Profit before tax 648 376 201 Income tax - - - Post-tax profit 648 376 201 Other comprehensive income - - - Total comprehensive income 648 376 201 Reconciliation of the summarized financial information presented to the carrying amount of the group’s interest in the RAL 1 joint venture Opening net assets January 1 863 487 286 Profit for the period 648 376 201 Closing net assets 1,511 863 487 Interest in joint venture at 50.1% 757 432 244 Funding classified as long term debt by joint venture in ‘other investments in joint ventures’ 21,970 2,335 4,146 Carrying value 22,727 2,767 4,390 RAL 1 Limited is an asset leasing joint venture in which the group has a 50.1 RAL 2 Limited $000 Dec 31, 2017 Dec 31, 2016 Summarized statement of financial position Current Cash and cash equivalents 1,692 1,122 Other current assets (excluding cash) 5,790 1,922 Total current assets 7,482 3,044 Other current liabilities (including trade payables) (19,911) (24,706) Total current liabilities (19,911) (24,706) Non-current Assets 32,583 46,978 Financial liabilities (18,737) (24,262) Total non-current liabilities (17,737) (24,262) Net assets 1,417 1,054 $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Summarized statement of comprehensive income Revenue 18,679 22,179 23,840 Depreciation and amortization (14,395) (16,638) (17,290) Interest expense (2,080) (2,237) (3,718) Profit before tax 363 442 455 Income tax - - - Post-tax profit 363 442 455 Other comprehensive income - - - Total comprehensive income 363 442 455 Reconciliation of the summarized financial information presented to the carrying amount of the group’s interest in the RAL 2 joint venture Opening net assets January 1 1,054 612 157 Profit for the period 363 442 455 Closing net assets 1,417 1,054 612 Interest in joint venture at 50.1% 710 528 307 Funding classified as long term debt by joint venture in ‘other investments in joint ventures’ 26,644 31,128 41,243 Carrying value 27,354 31,656 41,550 Refer to note 18 for details of joint venture capital commitments. KGL Isiro SARL KGL Isiro SARL is an exploration company in which the group has a 51 0.1 0.6 0.075 0.3

Deferred taxation

Deferred taxation	12 Months Ended
	Dec. 31, 2017
Disclosure of deferred taxes [text block]	11. Deferred taxation $000 Note Dec 31, 2017 Dec 31, 2016 Deferred tax is calculated on temporary differences under the liability method using a tax rate of 30% in respect of the Malian operations and 25% in respect of the Ivorian operations. The movement on deferred taxation is as follows: At the beginning of the year 42,386 35,548 Statement of comprehensive income charge 4 10,395 6,838 At the end of the year 52,781 42,386 Deferred taxation assets and liabilities comprise the following: Accelerated tax depreciation 52,181 41,786 Deferred stripping 600 600 Deferred taxation liability 52,781 42,386 Net deferred tax liability 52,781 42,386 There is no deferred tax on other comprehensive income items. There are no unrecognized deferred tax liabilities in respect of undistributed profits.
Kibali Jersey Limited [member]
Disclosure of deferred taxes [text block]	10. DEFERRED TAXATION $000 Dec 31, Dec 31, Dec 31, Deferred taxation is calculated on temporary differences under the liability method using a tax rate of 30% in respect of the DRC operations. The movement on deferred taxation is as follows: At the beginning of the year (11,096) (41,926) (32,463) Statement of comprehensive income charge 54,333 30,830 (9,463) At the end of the year 43,237 (11,096) (41,926) Deferred taxation comprise the following: Tax losses carried forward attributable to accelerated capital allowances 520,526 359,449 292,981 Accelerated capital allowances (477,289) (370,545) (334,907) Net deferred taxation asset/(liability) 43,237 (11,096) (41,926)

AVAILABLE-FOR-SALE FINANCIAL AS

AVAILABLE-FOR-SALE FINANCIAL ASSET	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of available-for-sale financial assets [text block]	$000 Dec 31, Dec 31, Dec 31, Balance at the beginning of the year 58 45 74 Fair value movement recognized in other comprehensive income (34) 12 (20) Exchange gain/(loss) 2 1 (9) Balance at the end of the year 26 58 45

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2017
Disclosure of trade and other payables [text block]	12. Trade and other payables $000 Note Dec 31, 2017 Dec 31, 2016 Trade payables 26,766 27,993 Payroll and other compensation 13,513 11,609 Accruals and other payables 101,407 78,701 Gounkoto priority dividend 2 7,602 9,074 149,288 127,377
Kibali Jersey Limited [member]
Disclosure of trade and other payables [text block]	18. TRADE AND OTHER PAYABLES $000 Dec 31, Dec 31, Dec 31, Trade payables 46,060 57,590 61,193 Payroll and other compensations 1,908 1,813 2,240 Bank account in overdraft 12,762 11,551 7,346 Accruals and other payables 43,903 60,905 46,304 104,633 131,859 117,083 Accruals and other payables include retention, in respect of contracts with suppliers of $ 8.3 17.9 16.0 8.0 Trade and other payables are all due within a 120 days

Provision for environmental reh

Provision for environmental rehabilitation	12 Months Ended
	Dec. 31, 2017
Disclosure Of Provision For Environmental Rehabilitation [Abstract]
Disclosure of Provision for environmental rehabilitation [text block]	Provision for environmental rehabilitation $000 Dec 31, 2017 Dec 31, 2016 Opening balance 55,455 47,581 Unwinding of discount 1,386 1,070 Change in estimates (1,103) 6,804 At December 31 55,738 55,455 As at December 31, 2017, $ 27.2 23.9 19.7 23.9 8.8 7.7 2.5 2.5

Employment cost

Employment cost	12 Months Ended
	Dec. 31, 2017
Disclosure of employment cost [Abstract]
Disclosure of share-based payment arrangements [text block]	14. Employment cost The group contributes to several defined contribution provident funds. The provident funds are funded on the ‘money accumulative basis’ with the members and company having been fixed in the constitutions of the funds. All the group’s employees, other than those directly employed by West African subsidiary companies, are entitled to be covered by the above mentioned retirement benefit plans. Retirement benefits for employees employed by West African subsidiary companies are provided by the state social security system to which the company and employees contribute a fixed percentage of payroll costs each month. Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Total employee benefit cost was as follows: Short term benefits 75,507 71,453 50,199 Pension contributions 13,665 11,460 5,104 Share-based payments 21,993 23,891 22,943 Total 111,165 106,804 78,246 Share-based payments Share options, restricted shares and participation in Co-Investment Plan share awards are granted to directors and employees in exchange for services rendered. Share-based payments – share options The fair value of employee services received as consideration for share options (equity settled) of the company is calculated using the Black-Scholes option pricing model. Options vest after two, three and four years and lapse after a maximum term of 10 years. No new options were granted during the year and therefore no inputs to the option model, etc. are provided for the current year. 12,477 22.19 95.92 Range of exercise price ($) Number of options Weighted average Weighted average At December 31, 2017 2,000 0.39 45.27 2,000 0.39 45.27 At December 31, 2016 22.19 – 22.19 12,477 0.64 22.19 26.26 – 46.34 2,000 1.39 45.27 14,477 0.74 25.38 At December 31, 2015 22.19 – 22.19 78,277 1.64 22.19 26.26 – 46.34 31,000 2.80 30.69 56.99 – 56.99 16,000 3.67 56.99 125,277 2.19 28.74 Range of exercise price ($) Number of exercisable options Weighted average At December 31, 2017 26.26 – 46.34 2,000 45.27 2,000 45.27 At December 31, 2016 22.19 – 22.19 12,477 22.19 26.26 – 46.34 2,000 45.27 14,477 25.38 At December 31, 2015 22.19 – 22.19 78,277 22.19 26.26 – 46.34 31,000 30.69 56.99 – 56.99 16,000 56.99 125,277 28.74 Share-based payments – restricted shares and participation in Co-Investment Plan The company operates restricted share schemes for directors and employees, as well as participation in a Co-Investment Plan for directors and senior management. Restricted shares issued to employees Restricted shares issued to employees are subject to a satisfactory performance level being achieved during the 12 month period prior to the exercise date of each tranche of shares. The minimum performance level to be achieved is defined as level 3 on the company’s performance management system. All employees to whom restricted shares have been granted are expected to meet this level of performance. The performance period is up to five years where the employee must remain in employment for the shares to vest. There are no market based vesting conditions on the share awards. The fair value of the restricted shares issued in 2017, 2016 and 2015 are detailed below and the share-based payment charge is charged to profit evenly between the grant and vesting dates. The restriction on the shares (no dividends received during the vesting period) had a minimal impact on the fair value estimate at the grant date. The restricted shares have an exercise price of nil. The fair value of the restricted shares issued in 2017 was calculated using the Black-Scholes pricing model. $000 Note January 2017 August 2017 Quantity of shares issued 149,100 30,000 Fair value of shares issued $13.6 million $2.7 million Performance period 3,4 and 5 years 3,4 and 5 years Volatility 14.1 37.2%,36.7% and 39.5% 36.9%,35.3% and 36.3% Risk-free interest rate 1.4%,1.8% and 1.8% 1.5%,1.8% and 1.8% Dividend yield 1.07 % 1.06 % Weighted average share price on grant and valuation date 14.2 $ 94.94 $ 93.70 14.1 Volatility is based on the three year historical volatility of the company’s shares on each grant date. 14.2 Weighted average share price for the valuation is calculated taking into account the market price on all grant dates. In 2016, there were 374,100 246,800 127,300 75.2 117.6 32.5 Restricted shares issued to executive directors in 2009 and 2010 The restricted shares issued to executive directors in 2009 and 2010 were subject to directors remaining employed, as well as being subject to a market performance condition, being the company’s relative TSR performance over three years against the HSBC Global Gold Index (since renamed the Euromoney Global Gold Index). This was assessed and had a minimal impact on the fair value estimate at the grant date. The fair value of the restricted shares was based on the share price on the grant date and the share-based payment charge is charged to profit evenly between the grant and vesting dates. The restriction on the shares (no dividends received during the vesting period) had a minimal impact on the fair value estimate at the grant date. The restricted shares have an exercise price of nil. Restricted share awards granted to executive directors in 2011, 2012, 2013, 2014, 2015, 2016 and 2017 The Restricted Share Scheme for 2011, 2012 and 2013 operates with conditional share awards, where the awards will vest in three equal one-third tranches subject to the fulfilment of performance conditions measured on an annual basis. Shares awarded in 2017, 2016, 2015 and 2014 are subject to one four-year performance period of assessment. If the performance conditions are met, awards vest at the end of each performance period. The 2011, 2012 and 2013 awards are subject to four performance conditions: absolute TSR (market based), EPS growth, additional reserves and absolute reserves. The 2014 awards are subject to three performance conditions: absolute TSR (market based), EPS growth and additional reserves. The 2017, 2016 and 2015 awards are subject to three performance conditions: absolute TSR (market based), total cash cost per ounce and additional reserves. Grant date fair value was calculated using the market-based measure. No dividends are attributable during the vesting period. The fair value of the restricted shares issued to executive directors in 2017 and 2016 was calculated using a Monte Carlo simulation model. $000 Note March 2017 March 2016 March 2015 Quantity of shares issued 49,357 44,664 55,782 Fair value of shares awarded $1.9 million $2.2 million $2.0 million Performance period 4 years and a 1 year post vesting retention requirement 4 years and a 1 year post vesting retention requirement 4 years and a 1 year post vesting retention requirement Risk free interest rate 1.90 % 1.01 % 1.45 % Volatility 14.1 37 % 35 % 35 % Euromoney Global Gold Index volatility 37 % 35 % 35 % Correlation used between the Euromoney Global Gold Index and the company TSR 60 % 85 % 85 % Weighted average share price on grant and valuation date 14.2 $ 87.41 $ 88.50 $ 67.41 14.1 Volatility is based on the three year historical volatility of the company’s shares over the relevant vesting periods. 14.2 Weighted average share price for the valuation is calculated taking into account the market price on all grant dates. CEO performance shares At the company’s annual general meeting in 2013, shareholders approved a one-off award of performance shares to the CEO. The vesting of the performance shares is subject to the achievement of the conditions set out in “PART I. Item 6. Directors, Senior Management and Employees. B. Compensation” in the Annual Report on Form 20-F and the CEO continuing to hold office or employment with the company during the period of three years from April 29, 2013, the date of grant of the award of performance shares. The fair value was determined at $ 4.0 Four out of five of the performance conditions have been met by December 31, 2017. The performance condition in respect of one fifth ( 10,006 71.54 30,018 67.41 40,024 Restricted shares issued to directors and management (excluding Co-Investment Plan) Weighted Weighted Weighted Shares 2017 Shares 2016 Shares 2015 Weighted Weighted Weighted Shares granted to executive directors At January 1 82.62 80.88 84.54 191,472 189,142 160,655 - Awarded 87.87 92.75 73.42 49,357 44,664 55,781 - Vested - 76.53 76.53 - (3,882) (3,882) - Lapsed 90.76 86.45 89.08 (26,810) (38,452) (23,412) - At December 31 82.81 82.62 80.88 214,019 191,472 189,142 1.39 1.74 2.42 Shares awarded to non-executive Directors - At January 1 - - 76.15 - - - - Awarded 88.99 99.68 76.15 10,500 13,500 13,500 - Vested 88.99 99.68 76.15 (10,500) (13,500) (13,500) - At December 31 - - - - - - - - - Shares awarded to employees At January 1 82.53 81.36 84.36 1,220,600 1,189,300 1,248,800 - Awarded 94.73 89.63 75.99 179,100 374,100 286,300 - Vested 83.28 89.75 89.08 (259,450) (234,100) (222,300) - Lapsed 80.88 76.57 84.66 (76,950) (108,700) (123,500) - At December 31 82.85 82.53 81.36 1,063,300 1,220,600 1,189,300 2.45 2.14 2.75 Participation in Co-Investment Plan by executive directors in 2017, 2016 and 2015 An executive director may choose to commit shares, either from his own holding or acquired in the market, into a Co-Investment Plan. The maximum commitment which may be made is 250 125 12 months The fair value of awards made under the Co-Investment Plan in 2017, 2016 and 2015 was calculated using a Monte Carlo simulation model. $000 Note March 2017 March 2016 March 2015 Quantity of shares committed 61,697 55,830 69,726 Fair value $2.8 million $2.3 million $2.6 million Performance period 3 years 3 years 3 years Risk free interest rate 1.66 % 1.01 % 0.89 % Volatility 14.1 37 % 35 % 35 % Euromoney Global Gold Index volatility 37 % 35 % 35 % Correlation used between the Euromoney Global Gold Index and the company TSR 85 % 85 % 85 % Weighted average share price on grant and valuation date 14.2 $ 87.41 $ 88.50 $ 74.0 14.1 Volatility is based on the three year historical volatility of the company’s shares over the relevant vesting periods. 14.2 Weighted average share price for the valuation is calculated taking into account the market price on all grant dates. Participation in Co-Investment Plan by senior management in 2017, 2016 and 2015 Senior management had the opportunity to participate in Randgold’s senior management Co-Investment Plan in 2017 and 2016. The maximum commitment which may be made in the Co-Investment Plan is 100 10,841 The fair value of awards made under the Co-Investment Plan in 2017 and 2016 was calculated using a Monte Carlo simulation model. $000 Note March 2017 March 2016 March 2015 Quantity of shares committed 6,845 10,739 20,730 Fair value $0.3 million $0.4 million $0.8 million Performance period 3 years 3 years 3 years Risk free interest rate 1.66 % 1.01 % 0.95 % Volatility 14.1 37 % 35 % 35 % Euromoney Global Gold Index volatility 37 % 35 % 35 % Correlation used between the Euromoney Global Gold Index and the company TSR 85 % 85 % 85 % Weighted average share price on grant and valuation date 14.2 $ 87.41 $ 88.50 $ 73.38 14.1 Volatility is based on the three year historical volatility of the company’s shares over the relevant vesting periods. 14.2 Weighted average share price for the valuation is calculated taking into account the market price on all grant dates.

Segmental information

Segmental information	12 Months Ended
	Dec. 31, 2017
Disclosure Of Segmental Information [Line Items]
Disclosure of entity's operating segments [text block]	15. Segmental information Operating segments have been identified on the basis of internal reports about components of the group that are regularly reviewed by the group’s chief operating decision maker. The operating segments included in internal reports are determined on the basis of their significance to the group. In particular, operating mines are reported as separate segments and exploration projects that have significant capitalized expenditure or other fixed assets are also reported separately. The Kibali and Morila joint ventures are included on a line by line basis, reflecting internal reporting. Other parts of the group, including the RAL 1 Limited and RAL 2 Limited joint ventures, are included within corporate and exploration. The group’s chief operating decision maker is considered by management to be the board of directors. An analysis of the group’s business segments, excluding intergroup transactions, is set out below. Major end customers are not identifiable because all gold is sold to an agent. Country of Mali Côte DRC Jersey $000 Group’s Loulo Gounkoto Tongon Group’s Corporate Inter Sub-total Joint Total Year ended December 31, 2017 Total revenue 34,429 544,941 366,510 368,765 339,683 - 1,654,329 374,112 1,280,217 Mining and processing costs excluding depreciation (24,722) (198,834) (139,598) (186,508) (195,554) 11,957 - (733,259) 208,320 (524,939) Depreciation and amortization (6,592) (106,255) (10,506) (65,304) (123,679) (835) - (313,171) 130,271 (182,900) Mining and processing costs (31,314) (305,089) (150,104) (251,812) (319,233) 11,122 - (1,046,430) 338,591 (707,839) Royalties (2,064) (32,616) (21,991) (11,055) (14,361) - - (82,087) 16,424 (65,663) Exploration and corporate expenditure - (3,874) (1,228) (1,979) (1,764) (40,704) - (49,549) 1,764 (47,785) Other (expenses)/income (530) (20,193) (6,297) (8,922) (16,274) 22,364 - (29,852) 36,915 7,063 Finance costs (432) (12,096) (208) (643) (2,739) 6,327 11,407 1,616 (4,723) (3,107) Finance Income 7 25 4 1,066 2,074 16,607 (11,407) 8,376 (2,358) 6,018 Share of profits equity accounted joint ventures - - - - - - - - 11,950 11,950 Profit before income tax 96 171,098 186,686 95,420 (12,613) 15,716 - 456,404 24,450 480,854 Income tax expense - (51,399) (55,744) (27,721) 24,450 (10,943) - (121,357) (24,450) (145,807) Net profit 96 119,699 130,942 67,699 11,837 4,773 - 335,047 - 335,047 Capital expenditure (4,204) (104,700) (49,738) (9,131) (111,608) (32,410) - (311,791) 115,812 (195,979) Total assets 27,625 1,419,695 239,693 504,841 1,501,756 2,180,571 - 5,874,181 (1,570,712) 4,303,469 Total external liabilities (24,940) (111,979) (48,883) (78,835) (83,159) (49,125) - (396,920) 88,485 (308,435) Year ended December 31, 2016 Total revenue 26,035 524,357 357,171 319,249 319,218 - 1,546,029 (345,252) 1,200,777 Mining and processing costs excluding depreciation (21,744) (200,489) (146,574) (187,839) (172,709) 13,683 - (715,673) 180,771 (534,902) Depreciation and amortization (3,785) (105,236) (23,513) (45,704) (102,718) (11,335) (292,292) 116,949 (175,343) Mining and processing costs (25,529) (305,725) (170,088) (233,544) (275,427) 2,348 (1,007,965) 297,720 (710,245) Royalties (1,544) (31,384) (21,430) (9,562) (14,839) - (78,760) 16,383 (62,377) Exploration and corporate expenditure - (2,435) (1,026) (1,221) (1,809) (36,520) (43,010) 1,809 (41,202) Other (expenses)/income (5,151) (16,750) (23,004) (4,204) (13,872) 32,151 (30,830) 30,823 (7) Finance costs (317) (14,693) (149) (486) (3,282) 6,355 14,108 1,536 (4,729) (3,193) Finance income 6 24 3 20 3,985 15,960 (14,108) 5,889 (4,336) 1,553 Share of profits of equity accounted joint ventures - - - - - - - - 17,299 17,299 Profit before income tax (6,501) 153,393 141,478 70,252 13,974 20,294 - 392,889 9,716 402,605 Income tax expense (617) (46,072) (42,444) (17,563) 10,333 (2,306) (98,668) (9,716) (108,384) Net profit (7,118) 107,321 99,034 52,689 24,307 17,988 - 294,221 - 294,221 Capital expenditure (444) (144,363) (3,800) (15,446) (56,222) (7,174) - (227,449) (56,666) (170,783) Total assets 29,546 1,399,837 204,375 536,014 1,501,737 1,931,345 - 5,602,854 (1,561,896) 4,040,958 Total external liabilities (31,520) (128,557) (38,842) (69,878) (111,293) (64,501) - (444,591) 158,355 (286,236) Year ended December 31, 2015 Total revenue 57,197 406,643 317,524 277,253 336,272 - - 1,394,889 (393,469) 1,001,420 Mining and processing costs excluding depreciation (31,583) (236,439) (145,952) (193,504) (161,191) 12,677 - (755,992) 180,097 (575,895) Depreciation and amortization (9,335) (98,761) (6,705) (44,362) (87,275) (10,141) (256,579) 105,677 (150,902) Mining and processing costs (40,918) (335,200) (152,657) (237,866) (248,466) 2,536 - (1,012,571) 285,774 (726,797) Royalties (1,419) (24,329) (19,052) (8,292) (13,588) - - (66,680) 15,007 (51,673) Exploration and corporate expenditure - (2,079) (1,064) (1,206) (3,390) (41,146) - (48,885) 3,818 (45,067) Other (expenses)/income (4,520) (9,727) (12,533) (2,487) (1,290) 32,599 - 2,042 7,849 9,891 Finance costs (399) (13,428) (171) (1,734) 4,839 (3,544) 13,208 (1,229) (3,182) (4,411) Finance income 1 17 3 10 4,108 13,291 (13,208) 4,222 (4,110) 112 Share of profits of equity accounted joint ventures - - - - - - - - 77,303 77,303 Profit before income tax 9,942 21,897 132,050 25,678 78,485 3,736 - 271,788 (11,010) 260,778 Income tax expense (2,982) (4,013) (39,615) (4,342) (8,028) (33) - (59,013) 11,010 (48,003) Net profit 6,960 17,884 92,435 21,336 70,457 3,703 - 212,775 - 212,775 Capital expenditure (2,924) (192,271) (3,087) (18,573) (123,728) (4,107) - (344,690) 128,652 (216,038) Total assets 37,370 1,409,986 196,388 472,724 1,517,381 1,620,700 - 5,254,549 (1,517,229) 3,737,320 Total external liabilities (32,124) (126,380) (33,850) (43,514) (121,790) (52,051) - (409,709) 167,459 (242,250) The segmental information in respect of the group’s joint ventures is presented using the proportionate consolidation method for a joint venture to reflect the way information is reported to the board. The joint ventures are accounted for using the equity method of accounting under IFRS as a result of holding rights to the net assets of the arrangements as a whole rather than rights to the assets, and obligations for the liabilities, relating to the arrangement.
Kibali Jersey Limited [member]
Disclosure Of Segmental Information [Line Items]
Disclosure of entity's operating segments [text block]	20. SEGMENTAL INFORMATION Operating segments have been identified on the basis of internal reports about components of the group that are regularly reviewed by the group’s chief operating decision maker. The operating segments included in the internal reports are determined on the basis of their significance to the group. In particular, the operating mine is reported as a separate segment. KAS is included within the corporate segment. Country of operation DRC Jersey $000 Kibali Corporate Intercompany Total Year ended December 31, 2017 Profit and loss Total revenue 754,852 - - 754,852 Mining and processing costs excluding depreciation (436,054) - 1,489 (434,565) Depreciation and amortization (240,345) (2,494) (21,575) (264,415) Mining and processing costs (676,399) (2,494) (20,086) (698,980) Royalties (31,913) - - (31,913) Exploration and corporate expenditure (7,089) (1,116) - (8,205) Other (expenses)/income and JV profit (54,042) 758 (1,489) (54,772) Finance costs (163,730) - 158,252 (5,478) Finance income 1,464 13,861 (11,178) 4,147 (Loss)/profit before income tax (176,857) 11,009 125,499 (40,349) Income tax expense 54,333 - - 54,333 Net (loss)/profit for the year (122,524) 11,009 125,499 13,984 Capital expenditure 246,406 - 246,406 Total assets 2,969,999 9,514,687 (9,481,173) 3,003,512 Total liabilities (3,093,485) (5,778,281) 8,693,091 (178,675) Year ended December 31, 2016 Profit and loss Total revenue 709,372 - - 709,372 Mining and processing costs excluding depreciation (385,295) - 1,498 (383,797) Depreciation and amortization (186,124) (2,165) (22,636) (210,925) Mining and processing costs (571,419) (2,165) (21,138) (594,722) Royalties (32,976) - - (32,976) Exploration and corporate expenditure (6,270) (128) - (6,398) Other (expenses)/income and JV profit (47,200) (713) (72) (47,985) Finance costs (154,288) - 148,990 (5,298) Finance income 1,345 14,599 (11,209) 4,735 (Loss)/profit before income tax (101,436) 11,593 116,571 26,728 Income tax expense 22,962 - - 22,962 Net (loss)/profit for the year (78,474) 11,593 116,571 49,690 Capital expenditure 208,708 362 - 209,070 Total assets 2,790,160 6,852,741 (6,639,428) 3,003,473 Total liabilities (2,515,598) (3,339,052) 6,077,236 (222,586) Country of operation DRC Jersey $000 Kibali Corporate Intercompany Total Year ended December 31, 2015 Profit and loss Total revenue 747 272 - - 747,272 Mining and processing costs excluding depreciation (358,872) - 669 (358,203) Depreciation and amortization (160,900) (2,055) (29,554) (192,509) Mining and processing costs (519,772) (2,055) (28,885) (550,712) Royalties (30,196) - - (30,196) Exploration and corporate expenditure (4,211) (4,037) - (8,248) Other (expenses)/income and JV profit (2,861) 161 967 (1,733) Finance costs (149,710) - 144,334 (5,376) Finance income 1,245 14,750 (11,177) 4,818 Profit before income tax 41,767 8,819 105,239 155,825 Income tax expense (20,750) - 2,910 (17,840) Net profit for the year 21,017 8,819 108,149 137,985 Capital expenditure 274,952 2,145 - 277,097 Total assets 2,713,792 6,572,090 (6,251,120) 3,034,762 Total liabilities (2,654,254) (3,197,100) 5,607,776 (243,578)

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2017
Disclosure of financial risk management [Line Items]
Disclosure of financial risk management [text block]	16. Financial risk management In the normal course of its operations, the group is exposed to gold price, currency, interest rate, liquidity and credit risks. In order to manage these risks, the group may enter into transactions which make use of on-balance sheet derivatives. The group does not acquire, hold or issue derivatives for trading purposes. The group has developed a risk management process to facilitate, control and monitor these risks. The board has approved and monitors this risk management process, inclusive of documented treasury policies, counterparty limits, controlling and reporting structures. Controlling risk in the group The treasury committee is responsible for treasury financial risk management activities within the group. The treasury committee reviews and recommends to the board all treasury counterparties, limits, instruments and any hedge strategies. At least two members of the treasury committee need to be present for a decision to be made, one of whom needs to be an executive director. The group treasury function operates a 3 tier matrix for all counterparties based on two credit ratings per financial institution. This matrix sets out the maximum amount to be invested with each counterparty dependent upon credit ratings, with a minimum A- credit rating requirement, unless otherwise approved by the audit committee. Any deviations to the policy are reported to the audit committee, who may also grant specific dispensations. Approximately 10% of the cash for the group was held with the group’s principal bankers at year end with the remainder held with twelve other financial institutions, in line with the treasury policy. The treasury committee is responsible for managing the investment of group funds, currency exposure, liquidity and credit risk. The treasury committee adheres to the treasury risk management policy and counterparty limits and provides regular reports to the board. The financial risk management objectives of the group are defined as follows: • Safeguarding the group core earnings stream from its major assets through the effective control and management of gold price risk, foreign exchange risk, interest rate risk and credit risk; • Effective and efficient usage of credit facilities in both the short and long term through the adoption of reliable liquidity management planning and procedures; • Ensuring that investment and any hedging transactions are undertaken with creditworthy counterparties; and • Ensuring that all contracts and agreements related to risk management activities are coordinated consistently throughout the group and comply where necessary with all relevant regulatory and statutory requirements. The group continues to hold material TVA receivable balances in Mali and in the DRC. While management continue to pursue recovery of the TVA in cash, it is recognized that in practice given the continued absence of payment, the TVA may only be recovered through the tax offset mechanism set out in the establishment conventions in Mali. Management reports the TVA position and movements on a quarterly basis to the audit committee. Refer to “PART I. Item 3. Key Information. D. Risk Factors” in the Annual Report on Form 20-F for details on the group’s risk factors. Foreign currency and commodity price risk In the normal course of business, the group enters into transactions denominated in foreign currencies (primarily euro, South African rand and Communauté Financière Africaine franc). As a result, the group is subject to exposure from fluctuations in foreign currency exchange rates. In general, the group does not enter into any material derivatives to manage these currency risks and no significant positions were held in 2017 and 2016. Generally, the group does not hedge its exposure to gold price fluctuation risk and gold was sold at market spot prices in 2017 and 2016. Gold sales are made in US dollars and do not expose the group to any currency fluctuation risk. However, during periods of capital expenditure or loan finance, the company may use forward contracts or options to reduce the exposure to price movements, while maintaining significant exposure to spot prices. These derivatives may establish a fixed price for a portion of future production while the group maintains the ability to benefit from increases in the spot gold price for the majority of future gold production. $000 Dec 31, 2017 Dec 31, 2016 Level of exposure of foreign currency risk Carrying value of foreign currency balances Cash and cash equivalents includes balances denominated in: • Communauté Financi?re Africaine franc (CFA) 676 1,289 • Euro (EUR) 2,170 2,222 • South African rand (ZAR) 1,217 166 • British pound (GBP) 702 277 Trade and other receivables includes balances dominated in: • Communauté Financi?re Africaine franc (CFA) 19,165 6,886 • South African rand (ZAR) - 89 • Euro (EUR) 7,546 4,806 • British pound (GBP) 46 2 Trade and other payables includes balances dominated in: • Communauté Financi?re Africaine franc (CFA) (37,067) (4,525) • Euro (EUR) (321) (486) • South African rand (ZAR) (1,296) (868) • British pound (GBP) (742) (898) The group’s exposure to foreign currency arises where a company holds monetary assets and liabilities denominated in a currency different to the functional currency of the holder of the instrument which is the US dollar. The following table shows the impact of a 10% change in the US dollar on profit and equity arising as a result of the revaluation of the group’s foreign currency financial instruments. The TVA balance in Kibali is denominated in CDF and while not a financial instrument under IFRS 7, a movement of 10% in the year end rate would have an effect of $ 11.9 Closing exchange Effect of 10% At December 31, 2017 Euro (EUR) 0.8347 940 Communauté Financi?re Africaine franc (CFA) 547.53 (1,723) South African rand (ZAR) 12.36 (8) British pound (GBP) 0.74 1 At December 31, 2016 Euro (EUR) 0.9490 654 Communauté Financi?re Africaine franc (CFA) 623.30 365 South African rand (ZAR) 13.65 (61) British pound (GBP) 0.81 (62) The sensitivities are based on financial assets and liabilities held at December 31, where balances were not denominated in the functional currency of the group. The sensitivities do not take into account the group’s sales and costs and the results of the sensitivities could change due to other factors such as changes in the value of financial assets and liabilities as a result of non-foreign exchange influenced factors. Interest rate and liquidity risk Fluctuations in interest rates impact on the value of short term cash investments and interest payable on financing activities (including long term loans), giving rise to interest rate risk. In the ordinary course of business, the group receives cash from its operations and is required to fund working capital and capital expenditure requirements. The group generally enters into variable interest bearing borrowings. This cash is managed to ensure surplus funds are invested in a manner to achieve maximum returns while minimizing risks. The group has in the past been able to actively source financing through public offerings, shareholder loans and third party loans. The company maintains a $ 400.0 The facility, if drawn, bears interest at LIBOR plus 1.5%, at the lower end of the leverage grid and includes financial covenants in respect of EBIT, EBITDA, net finance charges, tangible net worth, total debt, debt cover and interest cover. Maturity date Amount $000 Effective rate Cash and cash equivalents: All less than 90 days as from December 31, 2017 719,808 0.9029 % The other financial instruments of the group that are not included in the tables above are non-interest bearing and are therefore not subject to interest rate risk. Concentration of credit risk The group’s cash balances do not give rise to a concentration of credit risk because it deals with a variety of major financial institutions. Its receivables and loans are regularly monitored and assessed. Receivables are impaired when it is probable that amounts outstanding are not recoverable as set out in the accounting policy note for receivables. Gold bullion, the group’s principal product, is produced in Mali and Côte d’Ivoire (and in the case of its joint ventures in DRC and Mali). The gold produced is sold through the largest accredited gold refinery in the world. Credit risk is further managed by regularly reviewing the financial statements of the refinery. The group is further not exposed to significant credit risk on gold sales, as cash is received within a few days of the sale taking place. While not financial assets under IFRS 7, included in receivables is $ 114.4 89.4 70.2 64.9 Capital risk management The group’s objectives when managing capital are to safeguard its ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the group may adjust the amount of dividends paid to shareholders, buyback shares, return capital to shareholders, issue new shares or sell assets to reduce debt. Consistent with others in the industry, the group monitors capital on the basis of the gearing ratio. This ratio is calculated as net debt (net cash) divided by total capital. Net debt is calculated as total borrowings (including borrowings and trade and other payables, as shown in the consolidated statement of financial position) less cash and cash equivalents. $000 Dec 31, 2017 Dec 31, 2016 Capital risk management Trade and other payables (149,288) (127,377) Less: cash and cash equivalents 719,808 516,301 Net position 570,520 388,924 Total equity 3,992,269 3,751,957 Total capital 3,421,749 3,363,033 Gearing ratio 0% 0% Maturity analysis The following table analyses the group’s financial liabilities into the relevant maturity groupings based on the remaining period from the statement of financial position to the contractual maturity date. $000 Trade and Borrowings Other financial At December 31, 2017 Financial liabilities Within 1 year on demand 134,662 - - Later than 1 year and no later than 5 years - - - After 5 years - - 2,765 Total 134,662 - 2,765 At December 31, 2016 Financial liabilities Within 1 year on demand 106,548 - - Later than 1 year and no later than 5 years - - - After 5 years - - 2,765 Total 106,548 - 2,765
Kibali Jersey Limited [member]
Disclosure of financial risk management [Line Items]
Disclosure of financial risk management [text block]	21. FINANCIAL RISK MANAGEMENT In the normal course of its operations, the group is exposed to gold price, currency, interest rate, credit and liquidity risks. In order to manage these risks, the group may enter into transactions which make use of on-balance sheet derivatives, but none were entered into in the current year. The group does not acquire, hold or issue derivatives for trading purposes. The group has developed a risk management process to facilitate, control and monitor these risks. Foreign exchange and commodity price risk In the normal course of business, the group enters into transactions denominated in foreign currencies (primarily Euro, British Pound, South African Rand, Congolese Franc and Australian Dollar). As a result, the group is subject to exposure from fluctuations in foreign currency exchange rates. In general, the group does not enter into derivatives to manage these currency risks and none existed in 2017, 2016 or 2015. Generally, the group does not hedge its exposure to gold price fluctuation risk and gold was sold at market spot prices in 2017, 2016 and 2015. Gold sales are made in US dollars and do not expose the group to any currency fluctuation risk. $000 Dec 31, Dec 31, Dec 31, Level of exposure of foreign currency risk carrying value of foreign currency balances. Cash and cash equivalents includes balances denominated in: · Congolese Franc (CDF) 28 249 71 · Euro (EUR) 297 17 47 · South African Rand (ZAR) 65 758 17 · British Pound (GBP) 3 55 4 · Australian Dollar (AUD) 402 369 363 Trade and other receivables includes balances denominated in: · Congolese Franc (CDF) 4 5 - · Euro (EUR) - - 306 · South African Rand (ZAR) - - 298 · British Pound (GBP) - - 1 · Australian Dollar (AUD) - - - $000 Dec 31, Dec 31, Dec 31, Trade and other payables includes balances denominated in: · Euro (EUR) (284 ) (825 ) (772 ) · South African Rand (ZAR) (1,003 ) (671 ) (2,567 ) · British Pound (GBP) (2 ) - (3 ) · Australian Dollar (AUD) (87 ) (193 ) (191 ) The group’s exposure to foreign currency arises where a company holds monetary assets and liabilities denominated in a currency different to the functional currency of the holder of the instrument which is the US dollar. The following table shows the impact of a 10% change in the US dollar on profit and equity arising as a result of the revaluation of the group’s foreign currency financial instruments. Closing Effect of 10% strengthening of $000 on At December 31, 2017 · Euro (EUR) 0.83382 (28 ) · South African Rand (ZAR) 12.34503 (100 ) At December 31, 2016 · Euro (EUR) 0.94868 (83 ) · South African Rand (ZAR) 13.71502 (67 ) At December 31, 2015 · Euro (EUR) 0.91525 (47 ) · South African Rand (ZAR) 15.45369 (204 ) The sensitivities are based on financial assets and liabilities held at December 31, 2017 where balances were not denominated in the functional currency of the group. The sensitivities do not take into account the group’s income and costs and the results of the sensitivities could change due to other factors such as changes in the value of financial assets and liabilities as a result of non-foreign exchange influenced factors. Interest rate and liquidity risk Fluctuations in interest rates impact on the value of short term cash investments, interest receivable on hire purchase loans and interest payable on financing activities, giving rise to interest rate risk. The group funds working capital and capital expenditure requirements with operating cash flows. The drawdowns of any funds are subject to the approval of the Annual budget and Business plan by the board of directors. The group has in the past been able to actively source financing through shareholder loans. The finance lease entered into bears a fixed rate of interest. Effective Amount rate for $000 the year % Cash and cash equivalents: All less than 90 days 3,288 0.08 Concentration of credit risk The group’s cash balances do not give rise to a concentration of credit risk because it deals with a variety of major financial institutions. Its receivables are regularly monitored and assessed. Receivables are impaired when it is probable that amounts outstanding are not recoverable as set out in the accounting policy note for receivables. Gold doré, the group’s principal product, is produced in the DRC. The gold doré is refined and sold through the largest accredited gold refinery in the world. Credit risk is further managed by regularly reviewing the financial statements of the refinery. The group is further not exposed to significant credit risk on gold sales, as cash is received within a few days of the sale taking place. While not a financial asset for IFRS 7, included in receivables is a TVA balance (including recoverable TVA on fuel duty and after discounting provisions) of US$134.5 million (2016: US$131.0 million; 2015: US$137.0 million) (refer to note 11) that was past due. Refer to note 2. This could result in credit risk for the Capital risk management The group’s objectives when managing capital are to safeguard its ability to continue as a going concern in order to provide future returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the group issue new shares (by way of funding from the joint venture partners) or will make use of intercompany loans. The group monitors capital on the basis of the gearing ratio. This ratio is calculated as net borrowings and trade and other payables (less cash) divided by total capital. Total capital is calculated as equity, as shown in the statement of financial position, plus net borrowings and trade and other payables (less cash). $000 Dec 31, Dec 31, Dec 31, Capital risk management Borrowings and trade and other payables (note 16 and 18) 153,439 189,073 178,638 Less: cash and cash equivalents (3,288 ) (18,865 ) (21,373 ) Net borrowings, trade and other payables and cash 150,151 170,208 157,265 Total equity 2,824,838 2,780,887 2,791,184 Total capital 2,974,988 2,915,095 2,948,449 Gearing ratio 5 % 6 % 5 % Maturity analysis Expected Trade and Future other interest payables Borrowings payments At December 31, 2017 Financial liabilities Within 1 year in demand 104,633 7,596 3,345 Later than 1 year and no later than 5 years - 41,210 6,820 After 5 years - - 305 Total 104,633 48,806 10,470 At December 31, 2016 Financial liabilities Within 1 year in demand 131,859 10,285 3,974 Later than 1 year and no later than 5 years - 46,929 8,693 After 5 years - - 878 Total 131,859 57,214 13,545 At December 31, 2015 Financial liabilities Within 1 year in demand 117,083 9,808 2,461 Later than 1 year and no later than 5 years - 39,075 12,430 After 5 years - 12,672 3,805 Total 117,083 61,555 18,696

Fair value of financial instrum

Fair value of financial instruments	12 Months Ended
	Dec. 31, 2017
Disclosure Of Fair Value Of Financial Instruments [Line Items]
Disclosure of fair value of financial instruments [text block]	17. Fair value of financial instruments The fair value of a financial instrument is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. There have been no transfers between the levels of fair value hierarchy during the current or prior year. Randgold does not hold any financial instruments that are fair valued using a level 1, 2 or 3 valuation. No material derivative financial instruments currently exist. All other financial instrument carrying values approximate fair value. Estimation of fair values Trade and other receivables, trade and other payables, cash and cash equivalents, loans to and from subsidiaries and joint ventures The carrying amounts are a reasonable estimate of the fair values because of the short maturity of such instruments or their interest bearing nature. Gold price contracts The group is fully exposed to the spot gold price on gold sales.
Kibali Jersey Limited [member]
Disclosure Of Fair Value Of Financial Instruments [Line Items]
Disclosure of fair value of financial instruments [text block]	22. FAIR VALUE OF FINANCIAL INSTRUMENTS Carrying $000 amount Fair Value As at December 31, 2017 Categorized as level 1¹ Available-for-sale financial asset Available for sale 26 26 As at December 31, 2016 Categorized as level 1¹ Available-for-sale financial asset Available for sale 58 58 As at December 31, 2015 Categorized as level 1¹ Available-for-sale financial asset Available for sale 45 45 No derivative financial instruments currently exist. ¹Level 1: fair values are derived from quoted market prices for identical assets from an active market for which an entity has immediate access. Estimation of fair values Trade and other receivables, trade and other payables, cash and cash equivalents, bank overdrafts, loans to and from related parties The carrying amounts are a reasonable estimate of the fair values because of the short maturity of such instruments or their interest bearing nature. Long term and short term borrowings The carrying amount is a reasonable estimate of the fair value because of the short maturity of such instruments, interest bearing nature and other terms of the agreement.

NON-CONTROLLING INTEREST

NON-CONTROLLING INTEREST	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of non-controlling interests [text block]	15. NON-CONTROLLING INTEREST $000 Dec 31, Dec 31, Dec 31, Balance at the beginning of the year 19,777 27,624 25,522 Non-controlling interest in results of Kibali Goldmines SA (12,357) (7,847) 2,102 Balance at the end of the year 7,420 19,777 27,624 The non-controlling interest represents the 10

LOANS AND BORROWINGS

LOANS AND BORROWINGS	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of borrowings [text block]	16. LOANS AND BORROWINGS $000 Dec 31, Dec 31, Dec 31, Non-current Finance lease liability (refer to note 19) 40,350 46,707 51,530 Loan – Randgold (refer to note 26) 860 222 217 41,210 46,929 51,747 Current Finance lease liability (refer to note 19) 7,596 8,310 8,223 Loan – Randgold (refer to note 26) - 1,975 1,585 7,596 10,285 9,808 Total loans and borrowings 48,806 57,214 61,555 Finance lease liability The finance lease liability is due to KAS in respect of the equipment which has been transferred to the group under an installment sale agreement. The finance lease liability is interest bearing at 8 Loan – Randgold Randgold, a joint venture partner and operator of the Kibali gold mine, incurs management fees and other expenses as part of its role as operator of the mine on behalf of the group. The loan bears no interest and is repayable on a monthly basis. The non-current portion bears no interest but the effect of discounting is non-significant.

PROVISION FOR REHABILITATION

PROVISION FOR REHABILITATION	12 Months Ended
	Dec. 31, 2017
Disclosure of other provisions [text block]	17. PROVISION FOR REHABILITATION $000 Dec 31, Dec 31, Dec 31, Balance at the beginning of the year 21,163 15,533 15,341 Unwinding of discount 529 349 384 Change in estimates 1,552 5,281 (192) Balance at the end of the year 23,244 21,163 15,533 The provisions for rehabilitation costs include estimates for the effect of inflation and changes in estimates and have been discounted to their present value at 2.5 2.5 2.25

LEASES

LEASES	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of leases [text block]	19. LEASES The finance lease liability recognized is in respect of mining vehicles which have been used in excavation and hauling of waste rock and ore under an installment sale agreement. $000 Dec 31, Dec 31, Dec 31, Gross finance lease liabilities – minimum lease payments: No later than 1 year 11,042 12,979 12,100 Later than 1 year and no later than 5 years 39,872 42,239 52,968 Later than 5 years 6,694 13,344 13,381 Future finance charges (9,662) (13,545) (18,696) Present value of the finance lease liability 47,946 55,017 59,753 No later than 1 year 7,596 8,310 8,223 Later than 1 year and no later than 5 years 32,618 32,853 38,858 Later than 5 years 7,732 13,854 12,672 47,946 55,017 59,753

CASH FLOW FROM OPERATING ACTIVI

CASH FLOW FROM OPERATING ACTIVITIES AND NON-CASH ITEMS	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of cash flow statement [text block]	23. CASH FLOW FROM OPERATING ACTIVITIES AND NON-CASH ITEMS $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 (Loss)/Profit before income taxation (40,349) 26,728 155,825 Adjustments for: Interest received (Note 6) (4,147) (4,735) (4,818) Finance cost (Note 6) 4,949 4,949 4,992 Share of profits of equity accounted joint venture (113) (129) (268) Depreciation and amortization 264,415 210,925 192,509 Foreign exchange loss 38,326 36,134 - Movement in discounting provision on TVA (Note 3) 12,177 7,820 - Recycling of permanent losses on available-for-sale asset - - 3,144 Unwinding of rehabilitation provision 529 349 384 275,930 282,041 351,768 Effects of changes in operating working capital items - Receivables (69,741) (29,287) (7,122) - Inventories 30,266 5,484 12,565 - Trade and other payables (11,026) 14,712 12,447 Cash generated from operations 225,429 272,950 369,658 Other non-cash items include a finance lease liability movement of $ 4.1 4.7 1.2 29.7 6.6 4.3 2.1 5.2 0 8.0 Cash flows relating to loans and borrowings within financing activities comprises the following movements in finance lease liabilities: Non-current Current loans and loans and $000 borrowings borrowings Total At January 1, 2017 46,707 8,310 55,017 Cash flows: Lease repayments - (7,228) (7,228) Non cash flows: Loans and borrowings classified as non- current at December 31, 2016 (6,357) 6,357 - Interest and capital accrued - 157 157 At December 31, 2017 1 40,350 7,596 47,946 1 Refer to note 19 and the consolidated cash flow statement.

Commitments and contingent liab

Commitments and contingent liabilities	12 Months Ended
	Dec. 31, 2017
Disclosure of commitments and contingent liabilities [Line Items]
Disclosure of commitments and contingent liabilities [text block]	18. Commitments and contingent liabilities $000 Dec 31, 2017 Dec 31, 2016 Capital expenditure contracted for at statement of financial position date but not yet incurred is: Property plant and equipment – subsidiaries 17,262 7,019 Commitments of joint ventures (attributable share) Kibali 8,599 9,655 Morila - 37 RAL 1 16,262 - Total commitments of joint ventures (attributable share) 24,861 9,692 42,123 16,711 Under the Kibali Joint Venture Agreement (JVA) the obligation of the parties (Randgold Resources (Kibali) Ltd and AngloGold Ashanti Holdings plc) in respect of the future funding (including but not limited to operating costs, capital costs and other costs) of Kibali and/or the Kibali project shall be pro-rata in proportion to their respective percentage interests in Kibali at the time any such future funding is required. In accordance with the Kibali JVA, Kibali will be funded via intercompany loans provided indirectly from Kibali (Jersey) Limited. Kibali declared a dividend of $ 60 153.9 211.1 Operating lease commitments 10 5 1 $000 Dec 31, 2017 Dec 31, 2016 No later than 1 year 2,886 2,486 Later than 1 year and no later than 5 years 11,544 9,944 Later than 5 years 8,658 7,458 23,088 19,888 1 As discussed more fully in note 3 the group has received claims for various taxes in respect of subsidiaries and joint ventures from the State of Mali totaling $ 200.5 122.7
Kibali Jersey Limited [Member]
Disclosure of commitments and contingent liabilities [Line Items]
Disclosure of commitments and contingent liabilities [text block]	24. COMMITMENTS AND CONTINGENT LIABILITIES Dec 31, Dec 31, Dec 31, Capital expenditure contracted for at statement of financial position date but not yet incurred is: Property, plant and equipment 19,108 21,456 27,385

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2017
Disclosure of transactions between related parties [line items]
Disclosure of related party [text block]	19. Related party transactions $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Management fee received from Rockwell Diamonds Inc - 9 37 Net income from Loulo - - - Net income from Tongon - - - Net income from Morila 3,764 3,522 14,259 Net income from Gounkoto - - - Net income from Kibali 13,829 43,106 47,555 Net income from RAL 1 778 2,319 3,049 Net income from RAL 2 2,595 405 335 Net income refers to interest, management fees, recharges and dividends. In terms of the operator agreement with Morila, a management fee calculated as 1 Dec 31, 2017 Dec 31, 2016 Key management remuneration Short term employee benefits 13,009 12,899 Share-based payments 10,831 10,836 Total 23,840 23,735 This includes compensation for two executive directors of the company (2016: 2), 8 non-executive directors (2016: 8) and 22 executive management personnel (2016: 23). Refer to directors’ and executives’ profiles on “PART I. Item 6. Directors, Senior Management and Employees” in the Annual Report on Form 20-F for detail of their roles and responsibilities.

INVESTMENT IN JOINT VENTURE

INVESTMENT IN JOINT VENTURE	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [Member]
Disclosure of investments accounted for using equity method [text block]	25. INVESTMENT IN JOINT VENTURE $000 Dec 31, Dec 31, Dec 31, Summarized statement of financial position Current assets Cash and cash equivalents 2,039 1,167 1,222 Other current assets (excluding cash) 1,649 10,061 10,584 Total current assets 3,688 11,228 11,806 Other current liabilities (including trade payables) (1,505) (1,457) (1,653) Total current liabilities (1,505) (1,457) (1,653) Non-current Assets 48,065 46,707 51,718 Financial liabilities (49,739) (56,195) (61,295) Net assets 509 283 576 Summarized statement of comprehensive income Operating (loss)/profit (39) (21) 234 Interest income 3,959 4,489 4,802 Interest expense (3,695) (4,210) (4,500) Profit and total comprehensive income for the period 225 258 536 Dividends received from joint venture - 550 - Reconciliation of the summarized financial information presented to the carrying amount of the group's interest in KAS Opening net assets January 1 284 576 40 Profit for the period 225 258 536 Dividends received - (550) - Closing Net assets 509 284 576 Interest in joint venture at 50.1% 255 142 289 Funding classified as long term debt by joint venture recorded in ‘other investments in joint ventures’ 25,577 28,830 31,086 Carrying value 25,832 28,972 31,375 The loan to KAS bears interest at 8

RELATED PARTIES AND RELATED PAR

RELATED PARTIES AND RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of related parties and related party transactions [line items]
Disclosure Of Related Parties And Related Party Transactions [text block]	26. RELATED PARTIES AND RELATED PARTY TRANSACTIONS Related parties Nature of relationship Randgold Ultimate Joint Venture partner AngloGold Ashanti Ultimate Joint Venture partner AngloGold Ashanti Holdings plc Joint Venture partner Randgold Resources (Kibali) Limited Joint Venture partner Randgold Resources Congo SPRL Entity under common control (subsidiary of Randgold) Société des Mines de Loulo SA Entity under common control (subsidiary of Randgold) Société des Mines de Tongon SA Entity under common control (subsidiary of Randgold) Société des Mines de Gounkoto SA Entity under common control (subsidiary of Randgold) Rand Refinery (Pty) Limited Associate of AngloGold Ashanti SOKIMO Government interest in Kibali KAS Joint Venture Isiro (Jersey) Limited Joint Venture of Randgold KGL Isiro SARL Subsidiary of Isiro (Jersey) Limited $000 Dec 31, Dec 31, Dec 31, Related party transactions Management fee paid to Randgold 4,385 4,296 4,265 Refining fees to Rand Refinery (Pty) Limited 3,632 3,062 3,564 Interest received from SOKIMO 1,097 1,335 1,232 Shareholders interest received from KAS 1,846 2,105 2,254 Interest incurred to KAS on the finance lease liability 3,753 4,482 4,800 Amounts included in trade and other receivables owing by related parties Rand Refinery (Pty) Limited 30,457 1,497 850 Loan to SOKIMO 18,827 17,381 16,046 Loan to Randgold Resources Congo SPRL 182 45 - Loan to Randgold - 942 - Loan to KGL Isiro SARL 64 1 21 Loan to Société des Mines de Loulo SA 4 - 3 Loan to Société des Mines de Tongon SA 41 76 3 Loan to Société des Mines de Gounkoto SA - 32 32 Amounts included in other investment in joint venture owing by related parties Loan to KAS 25,660 28,830 31,086 Amounts included in loans and borrowings owed to related parties Loan from Randgold (860) (2,197) (1,802) Finance lease liability with KAS (47,946) (55,017) (59,753) SOKIMO has a 10 Rand Refinery (Pty) Limited (Rand Refinery) is an associate of AngloGold Ashanti. Kibali Goldmines SA have incurred refining costs of $ 3.6 3.1 3.6 755 709 747 It is the obligation of the joint venture parties, Randgold and AngloGold Ashanti, (joint venture partners) to fund the group for operating costs, capital costs and other costs in proportion to their respective percentage interests in Kibali (Jersey) Limited. These costs are in accordance with the Kibali Joint Venture Agreement. The finance lease liability due to KAS is in respect of the equipment which has been transferred to the group under an installment sale agreement. Kibali (Jersey) Limited has a 50.1 Refer to notes 11 and 16 for the details of loans to and from related parties.

SUBSIDIARIES AND NON-CONTROLLIN

SUBSIDIARIES AND NON-CONTROLLING INTERESTS	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of subsidiaries [line items]
Disclosure Of Subsidiaries and Non-Controlling Interests [text block]	27. SUBSIDIARIES AND NON-CONTROLLING INTERESTS Country of incorporation % of and interest residence Company Kibali (Jersey) Ltd Jersey Subsidiary Border Energy East Africa (Pty) Ltd 100 % Uganda Subsidiary Moto (Jersey) 1 Ltd 100 % Jersey Subsidiary Kibali 2 (Jersey) Ltd 100 % Jersey Subsidiary 0858065 B.C. Limited 100 % Canada Subsidiary Moto Goldmines Australia Pty Ltd 100 % Australia Subsidiary Kibali Goldmines SA 90 % DRC Jointly controlled entity KAS 1 Limited 50.1 % Jersey

Mining and processing costs and

Mining and processing costs and other disclosable items	12 Months Ended
	Dec. 31, 2017
Disclosure of mining and processing costs and other disclosable items [Abstract]
Disclosure of mining and processing costs and other disclosable items [text block]	20. Mining and processing costs and other disclosable items $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Mine production costs 473,909 461,522 498,779 Movement in production inventory and ore stockpiles (12,095) 13,239 17,109 Depreciation and amortization 182,900 175,343 150,902 Other mining and processing costs 63,125 60,141 60,007 707,839 710,245 726,797 Other income primarily includes foreign exchange gains and management fees receivable from joint venture partners. Other expenses primarily include foreign exchange losses.

Exploration and corporate expen

Exploration and corporate expenditure	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about exploration and corporate expenditure [text block]	21. Exploration and corporate expenditure $000 Year ended Year ended Year ended Exploration and corporate expenditure comprise: Exploration expenditure 27,705 19,609 17,322 Corporate expenditure 20,080 21,593 27,745 47,785 41,202 45,067
Kibali Jersey Limited [member]
Disclosure of detailed information about exploration and corporate expenditure [text block]	5. EXPLORATION and corporate expenditurE $000 Dec 31, Dec 31, Dec 31, Exploration and corporate expenditure comprise: Exploration expenditure 2,760 2,748 3,132 Corporate expenditure 5,445 3,650 1,943 Recycling of permanent losses on available-for-sale asset - - 3,173 8,205 6,398 8,248

Finance income and costs

Finance income and costs	12 Months Ended
	Dec. 31, 2017
Disclosure of finance income (cost) [text block]	Finance income and costs Year ended Year ended Year ended Finance income – interest income 5,432 1,553 112 Finance income – net foreign exchange gain on financing activities 586 - - Finance income 6,018 1,553 112 Interest expense – borrowings (1,721) (1,724) (1,147) Finance costs – net foreign exchange loss on financing activities - (399) (1,867) Unwind of discount on provisions for environmental rehabilitation (1,386) (1,070) (1,397) Finance costs (3,107) (3,193) (4,411) Finance income/(costs) – net 2,911 (1,640) (4,299) Interest income arises on cash and cash equivalents. Interest expenses arise on borrowings measured at amortized cost.
Kibali Jersey Limited [member]
Disclosure of finance income (cost) [text block]	6. FINANCE INCOME AND COSTS $000 Dec 31, Dec 31, Dec 31, Finance income comprise: Bank interest 20 15 19 Interest received – loans and receivables 4,127 4,720 4,799 Total finance income 4,147 4,735 4,818 Finance costs comprise: Interest expense on finance lease (3,931) (4,482) (4,800) Interest expense on bank borrowings (1,018) (467) (192) Unwinding of discount on provisions for Rehabilitation (529) (349) (384) Total finance costs (5,478) (5,298) (5,376) Net finance costs (1,331) (563) (558)

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2017
Disclosure Of Subsequent events [Line Items]
Disclosure of events after reporting period [text block]	23. Subsequent events No significant subsequent events requiring disclosure or adjustment have occurred.
Kibali Jersey Limited [member]
Disclosure Of Subsequent events [Line Items]
Disclosure of events after reporting period [text block]	28. SUBSEQUENT EVENTS No significant subsequent events requiring disclosure or adjustment occurred.

OTHER INFORMATION

OTHER INFORMATION	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of Other Information [Line Items]
Disclosure of additional information [text block]	29. OTHER INFORMATION The Company is a private company limited by shares, incorporated in Jersey with a registered office, 3rd Floor, Unity Chambers, 28 Halkett Street, St Helier, Jersey, JE2 4WJ, Channel Islands. The Company’s principal activity is the operation of the Kibali gold mine in the DRC, within Kibali.

Significant accounting polici43

Significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2017
Description of other accounting policies relevant to understanding of financial statements [text block]	The consolidated financial statements of Randgold Resources Limited and its subsidiaries and joint ventures have been prepared in accordance with International Financial Reporting Standards and Interpretations (collectively (IFRS)) issued by the International Accounting Standards Board (IASB) as adopted by the European Union and in accordance with Article 105 of the Companies (Jersey) Law of 1991. The consolidated financial statements also comply with IFRS as issued by the IASB, as is required as a result of our listing on NASDAQ in the US. The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the company’s accounting policies. The areas involving a high degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in note 3. After reviewing the group’s budget for the next financial year, and other longer term plans, the directors are satisfied, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. The directors have no reason to believe that the group will not be a going concern for at least the next 12 months based on forecasts and available cash resources and available facilities. The financial statements were approved and authorized for issue by the board of directors on March 29, 2018.
Description of accounting policy for new standards and interpretations applied [text block]	New standards and interpretations applied The IASB has issued the following new standards, amendments to published standards and interpretations to existing standards with effective dates on or prior to January 1, 2017 which have been adopted by the group for the first time this year. These have not had a material impact. Effective period commencing on or after IAS 12 Recognition of deferred tax assets for unrealized losses (Amendments to IAS12) January 1, 2017 IAS 7 Disclosure Initiative: Amendments to IAS 7 January 1, 2017 Annual Improvements to IFRSs (2014 – 2016 Cycle) January 1, 2017
Description of accounting policy for standards effective in future period [text block]	Certain new standards, amendments and interpretations to existing standards have been published that are relevant to the group’s activities and are mandatory for the group’s accounting periods beginning after January 1, 2018 or later periods and which the group has decided not to adopt early. These include: Effective period commencing on or after IFRS 9 Financial instruments January 1, 2018 IFRS 15 Revenue from contracts with customers January 1, 2018 IFRS 16 Leases January 1, 2019 IFRS 17 Insurance contracts January 1, 2021 IFRS 2 Classification and Measurement of Share-based Payment Transactions (Amendments to IFRS 2) January 1, 2018 IFRIC 22 IFRIC 22 Foreign Currency Transactions and Advance Consideration January 1, 2018 IFRIC 23 IFRIC 23 Uncertainty over Income Tax Treatments January 1, 2019 IAS 28 Amendments to IAS 28: Long-term interests in Associates and Joint Ventures January 1, 2019 Annual Improvements to IFRSs (2015-2017 Cycle) January 1, 2019 IFRS 15 is intended to introduce a single framework for revenue recognition and clarify principles of revenue recognition. This standard modifies the determination of when to recognize revenue and how much revenue to recognize. The core principle is that an entity recognizes revenue to depict the transfer of promised goods and services to the customer of an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Management have completed an assessment of an existing gold sale contract and, based on the analysis performed, do not anticipate any material impact to the recognition of revenue upon adoption of this standard based on the existing arrangements at their operations given the commonality across its contracts. IFRS 16 introduces a single lease accounting model. This standard requires lessees to account for all leases under a single on-balance sheet model. Under the new standard, a lessee is required to recognize all lease assets and liabilities on the balance sheet; recognize amortization of leased assets and interest on lease liabilities over the lease term; and separately present the principal amount of cash paid and interest in the cash flow statement. The requirements of IFRS 16 extend to certain service contracts, such as mining contractors in which the contractor provides services and the use of assets, which may impact the group. Accordingly, the group has initiated a review of relevant contracts to complete an impact assessment. IFRS 9 ‘Financial instruments’ addresses the classification and measurement of financial assets and financial liabilities. The complete version of IFRS 9 was issued in July 2014. It replaces the guidance in IAS 39 that relates to the classification and measurement of financial instruments. IFRS 9 retains but simplifies the mixed measurement model and establishes three primary measurement categories for financial assets: amortized cost, fair value through other comprehensive income (OCI) and fair value through profit or loss. The basis of classification depends on the entity’s business model and the contractual cash flow characteristics of the financial asset. Investments in equity instruments are required to be measured at fair value through profit or loss with the irrevocable option at inception to present changes in fair value in OCI. There is now a new expected credit loss model that replaces the incurred loss impairment model used in IAS 39 and will apply to loans to joint ventures although the impact is not expected to be material. It is noted that TVA receivables are outside the scope of this standard. For financial liabilities there were no changes to classification and measurement except for the recognition of changes in credit risk in other comprehensive income, for liabilities designated at fair value through profit or loss. Contemporaneous documentation is still required but is different to that currently prepared under IAS 39.
Description of accounting policy for consolidation [text block]	Consolidation The consolidated financial information includes the financial statements of the company, its subsidiaries and the company’s equity accounted joint ventures using uniform accounting policies for similar transactions and other events in similar circumstances.
Description of accounting policy for subsidiaries [text block]	Subsidiaries Subsidiaries are entities over which the group has power, exposure, or rights, to variable returns from its involvement and the ability to use its power over the investee to affect the amount of the group's returns; generally accompanying an interest of more than one-half of the voting rights. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. The purchase method of accounting is used to account for the acquisition of subsidiaries by the group. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. Acquisition costs are expensed. Identifiable assets acquired (including mineral property interests or other identifiable intangible assets) and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the cost of acquisition over the fair value of the group’s share of the identifiable net assets acquired is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the statement of comprehensive income. Inter-company transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.
Description of accounting policy for investments in joint ventures [text block]	Joint ventures The group holds interests in a number of joint ventures. In a joint venture the parties that have joint control of the arrangement (the joint venturers) have a right to the net assets of the arrangement. This right is accounted for in the consolidated financial statements using the equity method. Joint control is considered to exist when there is contractual joint control; control being the power to govern the financial and operating policies of an entity so as to obtain benefits from the activities and the ability to use its power over the investee to affect the amounts of the group’s returns by the joint venturers. Acquisitions Except for initial recognition under IFRS 11 transition rules, further investments in additional joint venture companies are initially recognized at cost. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued or liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the acquisition. Goodwill on joint ventures represents the excess of the cost of acquisition of the joint venture over the group’s share of the fair value of the identifiable net assets of the joint venture and is included in the carrying amount of the investments. Joint ventures are accounted for using the equity method of accounting. In applying the equity method of accounting, the group’s share of its joint ventures’ post-acquisition profits or losses are recognized in profit or loss and its share of post-acquisition other comprehensive income is recognized in other comprehensive income. These post-acquisition movements and distributions received from the joint venture companies are adjusted against the carrying amount of the investments. When the group’s share of losses in a joint venture company equals or exceeds its interest in the joint venture company, including any other unsecured non-current receivables, the group does not recognize further losses, unless it has obligations to make or has made payments on behalf of the joint venture company. Unrealized gains on transactions between the group and its joint venture companies are eliminated to the extent of the group’s interest in the joint venture companies. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Any trading receivables and payables with joint venture companies are classified within trade and other receivables and payables. The accounting policies of joint venture companies have been changed where necessary to ensure consistency with the accounting policies adopted by the group. Dividends received are classified as operating cash flows in the consolidated cash flow statement.
Description of accounting policy for investments in subsidiaries joint ventures [text block]	Investments in subsidiaries and joint ventures Investment in subsidiaries and joint ventures are stated at cost less any provisions for impairment in the individual financial statements of the company. Dividends are accounted for when the company becomes entitled to receive them. On the disposal of an investment, the difference between the net disposal proceeds and the carrying amount is charged or credited to the statement of comprehensive income.
Description of accounting policy for segment reporting [text block]	Segmental reporting An operating segment is a group of assets and operations engaged in performing mining or advanced exploration that are subject to risks and returns that are different from those of other segments. Other parts of the business are aggregated and treated as part of a ‘corporate and exploration’ segment. The group provides segmental information using the same categories of information the group’s chief operating decision maker utilizes. The group’s chief operating decision maker is considered by management to be the board of directors. The group has only one business segment, that of gold mining. Segment analysis is based on individual mining operations and exploration projects that have a significant amount of capitalized expenditure or other fixed assets.
Description of accounting policy for foreign currency translation [text block]	Foreign currency translation Functional and presentation currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in US dollars, which is also the functional currency of the company and its significant subsidiaries and joint ventures. Transactions and balances Foreign currency transactions are translated into the relevant functional currency using the exchange rates prevailing at the date of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of comprehensive income in other income and other expenses.
Description of accounting policy for property, plant and equipment [text block]	Property, plant and equipment Long-lived assets and mine development costs Long-lived assets including development costs and mine plant facilities (such as processing plants, tailings facilities, raw water dams and power stations) are initially recorded at cost. Development of orebodies includes the development costs of shaft systems and waste rock removal that allows access to reserves that are economically recoverable in the future. Costs associated with underground development are capitalized when the works provide access to the orebody, whereas costs associated with ore extraction from operating orebody sections are treated as operating costs. Where relevant the estimated cost of dismantling the asset and remediating the site is included in the cost of property, plant and equipment, subsequently they are measured at cost less accumulated amortization and impairment. Development costs consist primarily of direct expenditure incurred to establish or expand productive capacity. Costs are capitalized during the construction of a new mine until commercial levels of production are achieved (refer to ‘Commercial production’ below), after which the relevant costs are depreciated. Costs are capitalized provided that the project is considered to be commercially, technically and economically viable. Such viability is deemed to be achieved when the group is confident that the project will provide a satisfactory return relative to its perceived risks and is sufficiently certain of economic production. Costs which are necessarily incurred while commissioning new assets, in the period before they are capable of operating in the manner intended by management, are capitalized under ‘Long-lived assets and mine development costs’. Development costs incurred after the commencement of production are capitalized to the extent they are expected to give rise to a future economic benefit. Commercial production The group assesses the stage of each mine construction project to determine when a mine moves into the production stage. The criteria used to assess the start date are determined by the unique nature of each mine construction project and include factors such as the complexity of a plant and its location. The group considers various relevant criteria to assess when the mine construction project is substantially complete and ready for its intended use and moves into the production stage. Some of the criteria would include but are not limited to the following: • The level of capital expenditure compared to construction cost estimates; • Completion of a reasonable period of testing of the mine plant and equipment; • The ability to produce gold in saleable form; and • The ability to sustain commercial levels of gold production. When a mine construction project moves into the production stage, the capitalization of certain mine construction costs ceases and subsequent costs are either regarded as inventory or expensed, except for capitalizable costs related to subsequent mining asset additions or improvements, open cast stripping, underground mine development or ore reserve development. The commissioning of an underground mine typically occurs in phases, with sections brought into production while deeper levels remain under construction. The shared infrastructures, such as declines of shafts, are assessed to determine whether they contribute to the production areas. Where they contribute to production, the attributable costs are transferred to production assets and start to be depreciated. The costs transferred comprise costs directly attributable to producing zones or, where applicable, estimates of the portion of shared infrastructure that are attributed to the producing zones. Development expenditure approval Development activities commence after project sanctioning by the appropriate level of management. Judgment is applied by management in determining when a project has reached a stage at which economically recoverable reserves exist such that development may be sanctioned. In exercising this judgment, management is required to make certain estimates and assumptions similar to those described below for capitalized exploration and evaluation expenditure. Any such estimates and assumptions may change as new information becomes available. Stripping costs In surface mining operations, the group may find it necessary to remove waste materials to gain access to mineral ore deposits prior to and after production commences. This waste removal activity is known as ‘stripping’. Prior to production commencing from a pit, stripping costs are measured internally and capitalized until the point where the overburden has been removed and access to the ore commences. Subsequent to production, waste stripping continues, either as part of ore extraction as a run of mine activity or due to strategic decisions such as pit push-back campaigns. There are two benefits accruing to the group from stripping activity during the production phase: usable ore that can be used to produce inventory and improved access to further quantities of material that will be mined in future periods. Economic ore extracted during this period and subsequently is accounted for as inventory. The production stripping costs relating to improved access to further quantities in future periods are capitalized as a stripping activity asset, if and only if, all of the following are met: • It is probable that the future economic benefit (improved access to the orebody) associated with the stripping activity will flow to the group; • The group can identify the component of the orebody for which access has been improved; and • The costs relating to the stripping activity associated with that component or components can be measured reliably. In determining the relevant component of the orebody for which access is improved, the group componentizes each of its mines into geographically distinct orebody sections or phases to which the stripping activities being undertaken within that component are allocated. Such phases are determined based on assessment of factors such as geology and mine planning. Once determined that any portion of the production stripping costs should be capitalized, the group typically uses the average stripping ratio of the component or phase of the mine to which the production stripping cost related to determine the amount of the production stripping costs that should be capitalized, unless the direct costs of stripping activity can be separately identified in which case such costs are capitalized. The group depreciates the deferred costs capitalized as stripping assets on a unit of production method, with reference to the ex-pit ore treated from the relevant orebody component or phase. Short-lived assets Short-lived assets including non-mining assets are shown at cost less accumulated depreciation and impairment. Depreciation and amortization Long-lived assets include mining properties, such as metallurgical plant, tailings and raw water dams, power plant and mine infrastructure, as well as mine development costs and are depreciated on a unit of production basis. Depreciation and amortization are charged over the life of the mine (or over the remaining useful life of the asset, if shorter) based on estimated ore tonnes contained in proven and probable reserves to be extracted using the relevant asset. As an example, underground assets are depreciated over underground proven and probable reserves and tonnes milled from those orebodies. No future capital expenditure is included in the depreciable value. Proven and probable ore reserves reflect estimated quantities of economically recoverable reserves, which can be recovered in the future from known mineral deposits. Only proven and probable reserves are used in the tonnes milled units of production depreciation calculation. Any changes to the expected life of the mine (or asset) are applied prospectively in calculating depreciation and amortization charges. Depreciation of construction and development costs for new mines commences when commercial production is achieved, as detailed above. Underground development costs that are attributable to the commissioned sections of an underground mine are depreciated from the date the development provides access to operational areas and ore extraction begins from those areas. Other assets under construction, such as plant improvement projects, are depreciated from the date they are commissioned, based on assessment by the group’s engineers. Short-lived assets which include motor vehicles, office equipment and computer equipment are depreciated over estimated useful lives of between two to five years but limited to the remaining mine life. Residual values and useful lives are reviewed, and adjusted if appropriate, at each statement of financial position date. Changes to the estimated residual values or useful lives are accounted for prospectively. Depreciation starts when the assets are ready and available for use. Impairment The carrying amount of the property, plant and equipment and investments in joint ventures of the group is compared to the recoverable amount of the assets whenever events or changes in circumstances indicate that the net book value may not be recoverable. The recoverable amount is the higher of value in use and the fair value less cost to sell. In assessing the value in use, the expected future cash flows from the assets is determined by applying a discount rate to the anticipated risk adjusted future cash flows. The discount rate used is the group’s weighted average cost of capital adjusted for asset specific factors when applicable. An impairment is recognized in the income statement to the extent that the carrying amount exceeds the assets’ recoverable amount. Only proven and probable reserves are used in the calculations and the models use the approved mine plans and exclude capital expenditure which enhance the assets or extractable ore tonnes outside of such approved mine plans. The revised asset carrying amounts are depreciated in line with group accounting policies. Assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units) for purposes of assessing impairment. The estimates of future discounted cash flows are subject to risks and uncertainties including the future gold price. It is therefore reasonably possible that changes could occur which may affect the recoverability of property, plant and equipment and investments in joint ventures. A previously recognized impairment loss is reversed if the recoverable amount increases as a result of a reversal of the conditions that originally resulted in the impairment. This reversal is recognized in the income statement and is limited to the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized in prior years.
Description of accounting policy for measuring inventories [text block]	Inventories Inventories include ore stockpiles, gold in process and dóre supplies, stores and materials, and are stated at the lower of cost or net realizable value. The cost of ore stockpiles and gold produced is determined principally by the weighted average cost method using related production costs. Cost of ore stockpiles include costs incurred up to the point of stockpiling, such as mining and grade control costs, but exclude future costs of production. Ore extracted is allocated to stockpiles based on estimated grade, with grades below defined cut-off levels treated as waste and expensed. While held in physically separate stockpiles, the group blends the ore from each stockpile at an individual mine when feeding the processing plant to achieve the resultant gold content. In such circumstances, lower and higher grade ore stockpiles each represent a raw material, used in conjunction with each other, to deliver overall gold production, as supported by the relevant feed plan. Morila’s full grade ore stockpile was depleted in 2015. At Loulo, full grade open pit stockpile material is above 3.0 1.58 0.7 2.58 1.09 1.34 0.79 1.53 0.99 The processing of ore in stockpiles occurs in accordance with the Life of Mine (LoM) processing plan that has been optimized based on the known mineral reserves, current plant capacity and mine design. Ore tonnes contained in the stockpile which exceed the annual tonnes to be milled as per the mine plan in the following year, are classified as non-current in the statement of financial position. The net realizable value of ore stockpiles is determined with reference to estimated contained gold and market gold prices applicable. Ore stockpiles which are blended together or with future ore mined when fed to the plant are assessed as an input to the gold production process to ensure the combined stockpiles are carried at the lower of cost and net realizable value. Ore stockpiles which are not blended in production are assessed separately to ensure they are carried at the lower of cost and net realizable value, although no such stockpiles are currently held. Costs of gold inventories include all costs incurred up until production of an ounce of gold such as milling costs, mining costs and directly attributable mine general and administration costs but exclude transport costs, refining costs and royalties. Net realizable value is determined with reference to estimated contained gold and market gold prices. Stores and materials consist of consumable stores and are valued at weighted average cost after appropriate impairment of redundant and slow moving items. Consumable stock for which the group has substantially all the risks and rewards of ownership are brought onto the statement of financial position as current assets.
Description of accounting policy for borrowing costs [text block]	Interest/borrowing costs Interest is recognized on a time proportion basis, taking into account the principal outstanding and the effective rate over the period to maturity. Borrowing costs are expensed as incurred except to the extent that it relates directly to the construction of property, plant and equipment during the time that is required to complete and prepare the asset for its intended use, when it is capitalized as part of property, plant and equipment. Borrowing costs are capitalized as part of the cost of the asset where it is probable that the asset will result in economic benefit and where the borrowing cost can be measured reliably. No interest or borrowing costs have been capitalized during the year or during the prior year.
Description of accounting policy for royalties arrangements [text block]	Royalties Royalty arrangements based on mineral production are in place at each operating mine. The primary type of royalty is a net smelter return royalty. Under this type of royalty, the group pays the holder an amount calculated as the royalty percentage multiplied by the value of gold production at market gold prices less selling costs. A royalty expense is recorded when revenue from the sale of gold is recognized.
Description of accounting policy for financial instruments [text block]	Financial instruments Financial instruments are measured as set out below. Financial instruments carried on the consolidated statement of financial position include cash and cash equivalents, trade and other receivables, trade and other payables, available for sale financial assets, loans to and from subsidiaries and joint ventures and loans to minorities. Cash and cash equivalents Cash and cash equivalents are carried in the consolidated statement of financial position at cost. For the purpose of the cash flow statement, cash and cash equivalents comprise cash on hand, deposits held at call with banks, other short term highly liquid investments with a maturity of three months or less at the date of purchase and bank overdrafts. In the consolidated statement of financial position, bank overdrafts are included in borrowings in current liabilities. Trade and other receivables Trade and other receivables are recognized initially at fair value. There is a rebuttable presumption that the transaction price is fair value unless this could be refuted by reference to market indicators. Subsequently, trade and other receivables are measured at amortized cost using the effective interest method, less provision for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganization, and default or delinquency in payments are considered indicators that the trade receivable may be impaired. The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognized in mining and processing costs in the consolidated statement of comprehensive income. Available-for-sale financial assets Available-for-sale financial assets are non-derivatives that are either designated in this category or not classified in any of the other categories. Available-for-sale financial assets are designated on acquisition. They are normally included in current assets and are carried at fair value. Where a decline in the fair value of an available-for-sale financial asset constitutes objective evidence of impairment, the amount of the loss is recognized in the consolidated statement of comprehensive income within other expenses, other movements in fair value are recognized in other reserves within equity. Borrowings (including bank borrowings when applicable, loans from subsidiaries, joint ventures and minorities) Borrowings are recognized initially at fair value, which equates to the proceeds received, net of transaction costs incurred. Borrowings are subsequently stated at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the statement of comprehensive income over the period of the borrowings using the effective interest method. Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least 12 months after the statement of financial position date. Trade and other payables Accounts payable and other short term monetary liabilities, are initially recognized at fair value, which equates to the transaction price, and subsequently carried at amortized cost using the effective interest method.
Description of accounting policy for decommissioning, restoration and rehabilitation provisions [text block]	Rehabilitation costs The net present value of estimated future rehabilitation costs is provided for in the consolidated financial statements and capitalized within property, plant and equipment on initial recognition. Rehabilitation will generally occur on closure or after closure of a mine. Initial recognition is at the time of the construction or disturbance occurring and thereafter as and when additional construction or disturbances take place. The estimates are reviewed annually to take into account the effects of inflation and changes in estimated risk adjusted rehabilitation works cost and are discounted using rates that reflect the time value of money. Annual increases in the provision due to the unwinding of the discount are recognized in the consolidated statement of comprehensive income as a finance cost. The present value of additional disturbances and changes in the estimate of the rehabilitation liability are recorded to mining assets against an increase/decrease in the rehabilitation provision. The rehabilitation asset is amortized on a unit of production basis. Rehabilitation projects undertaken, included in the estimates, are charged to the provision as incurred. Environmental liabilities, other than rehabilitation costs, which relate to liabilities arising from specific events, are expensed when they are known, probable and may be reasonably estimated.
Description of accounting policy for provisions [text block]	Provisions Provisions are recognized when the group has a present legal or constructive obligation as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made.
Description of accounting policy for income tax [text block]	Current tax Current tax is the tax expected to be payable on the taxable income for the year calculated using rates (and laws) that have been enacted or substantively enacted by the consolidated statement of financial position date. It includes adjustments for tax expected to be payable or recoverable in respect of previous periods. Taxation paid in the consolidated statement of cash flows relates to corporate tax liability payments. In Mali, the State is not reimbursing value added tax (TVA) due to the group as required under the legally binding mining convention. Morila, Loulo and Gounkoto each have an existing legal right under their respective establishment conventions to offset the TVA against corporate tax as it falls due. As a result, payments made under the TVA taxation system are being made in the knowledge that such payments first represent payments on account for corporate tax. The group records such payments as 'taxation paid' in the consolidated statement of cash flows as this is considered to present a more appropriate reflection of the group's corporate tax contribution by management. Once corporate tax liabilities are met, the remaining payments under the TVA system represent normal recoverable TVA and are not reflected in the consolidated statement of cash flows as 'taxation paid'.
Description of accounting policy for deferred income tax [text block]	Deferred taxation Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, if the temporary difference arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit nor loss, it is not recognized. Deferred tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the statement of financial position date and are expected to apply when the temporary differences reverses. Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred tax is provided on temporary differences arising on investments in subsidiaries and joint ventures, except where the timing of the reversal of the temporary difference is controlled by the group and it is probable that the temporary difference will not reverse in the foreseeable future.
Description of accounting policy for transactions with non-controlling interests [text block]	Accounting for Gounkoto non-controlling interest priority dividends Under the statutory requirements of the 1999 Malian Mining Code (the ‘Code’), the State of Mali is entitled to advanced payment of dividends. The advanced payment entitlement is calculated based on 10% of profits after certain deductions. The advanced dividends paid are deducted from the ordinary dividends that the government receives under its 20 10
Description of accounting policy for contingent liabilities and contingent assets [text block]	Contingent liabilities The group discloses contingent liabilities when possible obligations exist as a result of past events, unless the possible outflows of economic benefits are considered remote. By their nature, contingencies will often only be resolved when one or more future events occur or fail to occur. The assessment of such contingencies inherently involves the exercise of significant judgment and estimates of the outcome of future events. In certain circumstances, to provide transparency, the group voluntarily elects to disclose information regarding claims for which any outflow of economic benefit is considered remote.
Description of accounting policy for issued capital [text block]	Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction from the proceeds.
Description of accounting policy for employee benefits [text block]	Employee benefits Pension obligations The group has defined contribution plans. A defined contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. The group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. For defined contribution plans, the group pays contributions to publicly or privately administered provident funds on a mandatory, contractual or voluntary basis. The group has no further payment obligations once the contributions have been paid. The contributions are recognized as employee benefit expenses when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available. Termination benefits Termination benefits are payable when employment is terminated before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The group recognizes termination benefits when it is demonstrably committed to either: terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal; or providing termination benefits as a result of an offer made to encourage voluntary redundancy. Benefits falling due more than 12 months after statement of financial position date are discounted to present value. Profit-sharing and bonus plans The group recognizes a liability and an expense for bonuses. The group recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation. Share-based payments The fair value of the employee services received in exchange for the grant of options, restricted shares or participation in the group’s Co-Investment Plan is recognized as an expense. The total amount to be expensed over the vesting period is determined by reference to the fair value of the options or shares awards determined at the grant date: • Including any market performance conditions (for example, the correlation used between the Euromoney Global Gold Index and the company TSR); and • Excluding the impact of any service and non-market performance vesting conditions (for example, profitability, reserve growth targets and remaining an employee of the entity over a specified time period). Non-market vesting conditions are included in assumptions about the number of options that are expected to become exercisable or the number of shares that the employee will ultimately receive. This estimate is revised at each statement of financial position date and the difference is charged or credited to the statement of comprehensive income, with a corresponding adjustment to equity. Market performance conditions are included in the fair value assumptions on the grant date with no subsequent adjustment. The proceeds received on exercise of the options net of any directly attributable transaction costs are credited to equity. When the options are exercised, the company issues new shares. The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised. Transfers are made between other reserves and share premium when options are exercised and shares vest for the cumulative share based expense.
Description of accounting policy for leases [text block]	Leases Determining whether an arrangement is, or contains, a lease is based on the substance of the arrangement and requires an assessment of whether fulfilment of the arrangement is dependent on the use of a specific asset or assets and whether the arrangement conveys a right to use the asset. Leases of plant and equipment where the group assumes a significant portion of risks and rewards of ownership are classified as a finance lease. Finance leases are capitalized at the estimated present value of the underlying lease payments. Each lease payment is allocated between the liability and the finance charges to achieve a constant rate on the finance balance outstanding. The interest portion of the finance payment is charged to the consolidated statement of comprehensive income over the lease period. The plant and equipment acquired under the finance lease are depreciated over the useful lives of the assets, or over the lease term if shorter. Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the consolidated statement of comprehensive income on a straight-line basis over the period of the lease.
Description of accounting policy for recognition of revenue [text block]	Revenue recognition The company enters into contracts for the sale of gold. Revenue arising from gold sales under these contracts is recognized when the price is determinable, the product has been delivered in accordance with the terms of the contract, the significant risks and rewards of ownership have been transferred to the customer and collection of the sales price is reasonably assured. These criteria are met when the gold leaves the mines’ smelt houses. As sales from gold contracts are subject to customer survey adjustment, sales are initially recorded on a provisional basis using the group’s best estimate of the contained metal. Subsequent adjustments are recorded in revenue to take into account final assay and weight certificates from the refinery, if different from the initial certificates. The differences between the estimated and actual contained gold have historically not been significant.
Description of accounting policy for exploration and evaluation expenditures [text block]	Exploration and evaluation costs The group expenses all exploration and evaluation expenditures until the directors conclude that a future economic benefit is more likely than not of being realized, i.e. ‘probable’. While the criteria for concluding that an expenditure should be capitalized is always probable, the information that the directors use to make that determination depends on the level of exploration. Exploration and evaluation expenditure on brownfield sites, being those adjacent to mineral deposits which are already being mined or developed, is expensed as incurred until the directors are able to demonstrate that future economic benefits are probable through the completion of a suitable technical and financial study that demonstrates the viability of the project, after which the expenditure is capitalized as a mine development cost. The technical and financial study consists of a comprehensive study of the viability of a mineral project that has advanced to a stage where the mining method, in the case of underground mining, or the pit configuration, in the case of an open pit, has been established, and which, if an effective method of mineral processing has been determined, includes a financial analysis based on reasonable assumptions of technical, engineering, operating economic factors and the evaluation of other relevant factors. The technical and financial study, when combined with existing knowledge of the mineral property that is adjacent to mineral deposits that are already being mined or developed, allows the directors to conclude that it is more likely than not that the group will obtain future economic benefit from the expenditures. Exploration and evaluation expenditure on greenfield sites, being those where the group does not have any mineral deposits which are already being mined or developed, is expensed until such time as the directors have sufficient information to determine that future economic benefits are probable, after which the expenditure is capitalized as a mine development cost. The information required by directors is typically a final feasibility study; however, a suitable technical and financial study may be deemed to be sufficient where the additional work required to prepare a final feasibility study is not significant or the work done at technical and financial study level clearly demonstrates an economic asset. Exploration and evaluation expenditure relating to extensions of mineral deposits which are already being mined or developed, including expenditure on the definition of mineralization of such mineral deposits, is capitalized as a mine development cost following the completion of an economic evaluation equivalent to a technical and financial study. This economic evaluation is distinguished from a technical and financial study in that some of the information that would normally be determined from first principles is instead obtained from the existing mine or development. This information when combined with existing knowledge of the mineral property already being mined or developed allows the directors to conclude that more likely than not the group will obtain future economic benefit from the expenditures. Costs relating to property acquisitions are capitalized within development costs.
Description of accounting policy for dividends [text block]	Dividend distribution Dividend distribution to the company’s shareholders is recognized as a liability in the group’s financial statements in the period in which the dividends are approved by the board of directors and declared to shareholders.
Description of accounting policy for earnings per share [text block]	Earnings per share Earnings per share are computed by dividing net income by the weighted average number of ordinary shares in issue during the year.
Description of accounting policy for earnings per share [text block]	Diluted earnings per share Diluted earnings per share are presented when the inclusion of potential ordinary shares has a dilutive effect on earnings per share.
Kibali Jersey Limited [member]
Description of other accounting policies relevant to understanding of financial statements [text block]	BASIS OF PREPARATION The consolidated financial statements of Kibali (Jersey) Limited and its subsidiaries and joint venture have been prepared in accordance with International Financial Reporting Standards and Interpretations (collectively (IFRS)) issued by the International Accounting Standards Board (IASB). The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the group’s After reviewing the group’s budget for the next financial year, and other longer term plans, the directors are satisfied, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements. The directors have no reason to believe that the group will not be a going concern for at least the next 12 months based on forecasts and available cash resources and available facilities.
Description of accounting policy for new standards and interpretations applied [text block]	NEW STANDARDS AND INTERPRETATIONS APPLIED The IASB has issued the following new standards, amendments to published standards and interpretations to existing standards with effective dates on or prior to January 1, 2017 which have been adopted by the group for the first time this year. These have not had a material impact. Effective period IAS 12 Amendments – Recognition of deferred tax assets for unrealized losses January 1, 2017 IAS 7 Amendments – Disclosure initiative January 1, 2017 Annual improvements to IFRSs (2014 – 2016 cycle) January 1, 2017
Description of accounting policy for standards effective in future period [text block]	STANDARDS EFFECTIVE IN FUTURE PERIOD Certain new standards, amendments and interpretations to existing standards have been published that are relevant to the group’s activities and are mandatory for the group’s accounting periods beginning after January 1, 2018 or later periods and which the group has decided not to adopt early. These include: Effective period Financial instruments January 1, 2018 IFRS 15 Revenue from contracts with customers January 1, 2018 IFRS 16 Leases January 1, 2019 Clarifications to IFRS 15 revenue from Contracts with Customers January 1, 2018 IFRIC 22 Foreign Currency Transactions and Advance Consideration January 1, 2018 IFRIC 23 Uncertainty over Income Tax Treatments January 1, 2019 IAS 28 Amendments – Long-term interests in Associates and Joint Ventures January 1, 2019 Annual Improvements to IFRSs (2015-2017 Cycle) January 1, 2019 IFRS 15 is intended to introduce a single framework for revenue recognition and clarify principles of revenue recognition. This standard modifies the determination of when to recognize revenue and how much revenue to recognize. The core principle is that an entity recognizes revenue to depict the transfer of promised goods and services to the customer of an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Management have completed an assessment of the existing gold sale contract and, based on the analysis performed, do not anticipate any material impact to the recognition of revenue upon adoption of this standard based on the existing arrangements at their operations. IFRS 16 introduces a single lease accounting model. This standard requires lessees to account for all leases under a single on-balance sheet model. Under the new standard, a lessee is required to recognize all lease assets and liabilities on the balance sheet; recognize amortization of leased assets and interest on lease liabilities over the lease term; and separately present the principal amount of cash paid and interest in the cash flow statement. The requirements of IFRS 16 extend to certain service contracts, such as mining contractors in which the contractor provides services and the use of assets, which may impact the group. Accordingly, the group have initiated a review of relevant contracts to complete an impact assessment in 2018. IFRS 9 “Financial instruments” addresses the classification and measurement of financial assets and financial liabilities. The complete version of IFRS 9 was issued in July 2014. It replaces the guidance in IAS 39 that relates to the classification and measurement of financial instruments. IFRS 9 retains but simplifies the mixed measurement model and establishes three primary measurement categories for financial assets: amortized cost, fair value through other comprehensive income (OCI) and fair value through profit or loss. The basis of classification depends on the entity’s business model and the contractual cash flow characteristics of the financial asset. Investments in equity instruments are required to be measured at fair value through profit or loss with the irrevocable option at inception to present changes in fair value in OCI. There is now a new expected credit loss model that replaces the incurred loss impairment model used in IAS 39 and will apply to loans to joint ventures although the impact is not expected to be material. It is noted that value added tax (TVA) receivables are outside the scope of this standard. For financial liabilities there were no significant changes to classification and measurement except for the recognition of changes in credit risk in other comprehensive income, for liabilities designated at fair value through profit or loss. Contemporaneous documentation is still required but is different to that currently prepared under IAS 39.
Description of accounting policy for consolidation [text block]	CONSOLIDATION The consolidated financial information includes the financial statements of the Company, its subsidiaries and the Company’s equity accounted joint ventures using uniform accounting policies for similar transactions and other events in similar circumstances.
Description of accounting policy for subsidiaries [text block]	SUBSIDIARIES Subsidiaries are entities over which the group has power, exposure, or rights, to variable returns from its involvement and the ability to use its power over the investee to affect the amount of the group's returns; generally accompanying an interest of more than one-half of the voting rights. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. The purchase method of accounting is used to account for the acquisition of subsidiaries by the group. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. Acquisition costs are expensed. Identifiable assets acquired (including mineral property interests or other identifiable intangible assets) and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the cost of acquisition over the fair value of the group’s share of the identifiable net assets acquired is recorded as goodwill. If the cost of acquisition is less than the fair value of the net assets of the subsidiary acquired, the difference is recognized directly in the statement of comprehensive income. Intercompany transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group.
Description of accounting policy for investments in joint ventures [text block]	JOINT VENTURES The group holds interests in one joint venture. In a joint venture the parties that have joint control of the arrangement (the joint venturer) have a right to the net assets of the arrangement. This right is accounted for in the consolidated financial statements using the equity method. Joint control is considered to exist when there is contractual joint control; control being the power to govern the financial and operating policies of an entity so as to obtain benefits from the activities and the ability to use its power over the investee to affect the amounts of the group’s returns by the joint venturers. Acquisitions Except for initial recognition under IFRS 11 transition rules, further investments in additional joint ventures are initially recognized at cost. The cost of an acquisition is measured at the fair value of the assets given, equity instruments issued or liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the acquisition. Goodwill on associated companies and joint ventures represents the excess of the cost of acquisition of the associate or joint venture over the group’s share of the fair value of the identifiable net assets of the associate or joint venture and is included in the carrying amount of the investment. Joint ventures are accounted for using the equity method of accounting. In applying the equity method of accounting, the group’s share of its joint ventures’ post-acquisition profits or losses are recognized in profit or loss and its share of post-acquisition other comprehensive income is recognized in other comprehensive income. These post-acquisition movements and distributions received from the joint venture companies are adjusted against the carrying amount of the investments. When the group’s share of losses in a joint venture company equals or exceeds its interest in the joint venture company, including any other unsecured non-current receivables, the group does not recognize further losses, unless it has obligations to make or has made payments on behalf of the joint venture company. Unrealized gains on transactions between the group and its joint venture companies are eliminated to the extent of the group’s interest in the joint venture companies. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Trading receivables and payables with joint ventures are classified within trade and other receivables and payables. The accounting policies of joint venture companies have been changed where necessary to ensure consistency with the accounting policies adopted by the group. Dividends received are classified as operating cash flows in the consolidated cash flow statement. The carrying value of the investment in joint venture is compared to the recoverable amounts whenever circumstances indicate that the net book value may not be recoverable. An impairment is recognized in the profit or loss to the extent that the carrying value exceeds the recoverable amount.
Description of accounting policy for segment reporting [text block]	SEGMENTAL REPORTING An operating segment is a group of assets and operations engaged in performing mining or advanced exploration that are subject to risks and returns that are different from those of other segments. Other parts of the business are aggregated and treated as part of a ‘corporate and exploration’ segment. The group provides segmental information using the same categories of information which the group’s chief operating decision maker utilizes. The group’s chief operating decision maker is considered by management to be the board of directors. The group has only one business segment, being that of gold mining. Segment analysis is based on the mining operations and exploration projects that have a significant amount of capitalized expenditure or other fixed assets.
Description of accounting policy for foreign currency translation [text block]	FOREIGN CURRENCY TRANSLATION Functional and presentation currency Items included in the financial statements of each of the group’s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in US dollars, which is also the functional currency of the Company and its significant subsidiaries and joint ventures. Transactions and balances Foreign currency transactions are translated into the relevant functional currency using the exchange rates prevailing at the date of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the statement of comprehensive income in other income and other expenses.
Description of accounting policy for intangible assets other than goodwill [text block]	INTANGIBLE ASSETS Mineral properties Mineral properties acquired are recognized at fair value at the acquisition date. Mineral properties are recognized at fair value if acquired as part of a business combination, whereas they are recognized at cost if acquired as an asset. Mineral properties are tested annually for impairment on the same basis that property, plant and equipment are when there is an indication of impairment. Mineral properties are amortized on units of production basis from the point at which the mine commences production (refer to ‘depreciation and amortization’ policy below).
Description of accounting policy for property, plant and equipment [text block]	PROPERTY, PLANT AND EQUIPMENT Long-lived assets and mine development costs Long-lived assets including development costs and mine plant facilities (such as metallurgical plant, tailings and raw water dams, power plant and mine infrastructure) are initially recorded at cost. Development of ore bodies includes the development cost of shaft systems and waste rock removal that allows access to reserves that are economically recoverable in the future. Cost associated with underground development are capitalized when the works provide access to the ore body, whereas costs associated with ore extraction from operating ore body sections are treated as operating costs. Where relevant the estimated cost of dismantling the asset and remediating the site is included in the cost of property, plant and equipment, subsequently they are measured at cost less accumulated amortization and impairment. Development costs consist primarily of direct expenditure incurred to establish or expand productive capacity. Costs are capitalized during the construction of a new mine until commercial levels of production are achieved (refer to ?commercial production’ below), after which the relevant costs are amortized. Costs are capitalized provided that the project is considered to be commercially, technically and economically viable. Such viability is deemed to be achieved when the group is confident that the project will provide a satisfactory return relative to its perceived risks and is sufficiently certain of economic production. Costs which are necessarily incurred while commissioning new assets, in the period before they are capable of operating in the manner intended by management, are capitalized under ‘Long-lived assets and mine development costs’. Development costs incurred after the commencement of production are capitalized to the extent they are expected to give rise to a future economic benefit. Commercial production When a mine construction project is substantially complete and ready for its intended use the asset moves into the production stage, the capitalization of certain mine construction costs ceases and subsequent costs are either regarded as inventory or expensed, except for capitalizable costs related to subsequent mining asset additions or improvements, underground mine development or ore reserve development. The commissioning of an underground mine typically occurs in phases, with sections brought into production while deeper levels remain under construction. The shared infrastructures, such as declines of shafts, are assessed to determine whether they contribute to the production areas. Where they contribute to production, the attributable costs are transferred to production assets and start to be depreciated. The costs transferred comprise costs directly attributable to producing zones or, where applicable, estimates of the portion of shared infrastructure that are attributed to the producing zones. Development expenditure approval Development activities commence after project sanctioning by the appropriate level of management. Judgment is applied by management in determining when a project has reached a stage at which economically recoverable reserves exists such that development may be sanctioned. In exercising this judgment, management is required to make certain estimates and assumptions similar to those described below for capitalized exploration and evaluation expenditure. Any such estimates and assumptions may change as new information becomes available. Stripping costs In surface mining operations, the group may find it necessary to remove waste materials to gain access to mineral ore deposits prior to and after production commences. This waste removal activity is known as ‘stripping’. Prior to production commencing from a pit, stripping costs are measured internally and capitalized until the point where the overburden has been removed and access to the ore commences. Subsequent to production, waste stripping continues, either as part of ore extraction as a run of mine activity or due to strategic decisions such as pit push-back campaigns. There are two benefits accruing to the group from stripping activity during the production phase: usable ore that can be used to produce inventory and improved access to further quantities of material that will be mined in future periods. Economic ore extracted during this period and subsequently is accounted for as inventory. The production stripping costs relating to improved access to further quantities in future periods are capitalized as a stripping activity asset, if and only if, all of the following are met: · it is probable that the future economic benefit (improved access to the ore body) associated with the stripping activity will flow to the group; · the group can identify the component of the ore body for which access has been improved; and · the costs relating to the stripping activity associated with that component or components can be measured reliably. In determining the relevant component of the ore body for which access is improved, the group componentizes its mine into geographically distinct ore body sections or phases to which the stripping activities being undertaken within that component are allocated. Such phases are determined based on assessment of factors such as geology and mine planning. Once determined that any portion of the production stripping costs should be capitalized, the group typically uses the average stripping ratio of the component or phase of the mine to which the production stripping cost related to determine the amount of the production stripping costs that should be capitalized, unless the direct costs of stripping activity can be separately identified in which case such costs are capitalized. The group depreciates the deferred costs capitalized as stripping assets on a unit of production method, with reference to the ex-pit ore production from the relevant ore body component or phase. Short-lived assets Short-lived assets including non-mining assets are shown at cost less accumulated depreciation and impairment. Depreciation and amortization Long-lived assets include mining properties, such as metallurgical plant, tailings and raw water dams, power plant and mine infrastructure, as well as mine development costs and are depreciated on a unit of production basis. Depreciation and amortization are charged over the life of the mine (or over the remaining useful life of the asset, if shorter) based on estimated ore tonnes contained in proven and probable reserves to be extracted using the relevant asset, to reduce the cost to estimated residual values. No future capital expenditure is included in the depreciable value. Proven and probable ore reserves reflect estimated quantities of economically recoverable reserves, which can be recovered in the future from known mineral deposits. Only proven and probable reserves are used in the tonnes milled units of production depreciation calculation. Any changes to the expected life of the mine (or asset) are applied prospectively in calculating depreciation and amortization charges. Depreciation of construction and development costs commences when commercial production is achieved, as detailed above. Underground development costs that are attributable to the commissioned sections of an underground mine are depreciated from the date the development provides access to operational areas and ore extraction begins from those areas. Other assets under construction, such as plant improvement projects, are depreciated from the date they are commissioned, based on assessment by the group’s engineers. Short-lived assets which include motor vehicles, office equipment and computer equipment are depreciated over estimated useful lives of between two to five years but limited to the remaining mine life. Residual values and useful lives are reviewed, and adjusted if appropriate, at each statement of financial position date. Changes to the estimated residual values or useful lives are accounted for prospectively. Depreciation starts when the assets are ready and available for use. Impairment The carrying amount of the property, plant and equipment of the group is compared to the recoverable amount of the assets whenever events or changes in circumstances indicate that the net book value may not be recoverable. The recoverable amount is the higher of value in use and the fair value less cost to sell. In assessing the value in use, the expected future cash flows from the assets is determined by applying a discount rate to the anticipated risk adjusted future cash flows. The discount rate used is derived from the group’s weighted average cost of capital adjusted for asset specific factors as applicable. An impairment is recognized in the profit or loss to the extent that the carrying amount exceeds the assets’ recoverable amount. Only proven and probable reserves are used in the calculations and the models use the approved mine plan and exclude capital expenditure which enhance the assets or extractable ore tonnes outside of such approved mine plan. The revised carrying amounts are depreciated in line with group accounting policies. A previously recognized impairment loss is reversed if the recoverable amount increases as a result of a reversal of the conditions that originally resulted in the impairment. This reversal is recognized in the profit or loss and is limited to the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized in prior years. Assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units) for purposes of assessing impairment. The estimates of future discounted cash flows are subject to risks and uncertainties including the future gold price. It is therefore reasonably possible that changes could occur which may affect the recoverability of property, plant and equipment.
Description of accounting policy for measuring inventories [text block]	INVENTORIES Inventories include ore stockpiles, gold in process and doré, and supplies and spares and are stated at the lower of cost or net realizable value. The cost of ore stockpiles and gold produced is determined principally by the weighted average cost method using related production costs. Costs of stockpiles include costs incurred up to the point of stockpiling, such as mining and grade control costs, but exclude future costs of production. Ore extracted is allocated to separate stockpiles based on estimated grade, with grades below defined cut-off levels treated as waste and expensed. While held in physically separate stockpiles, the group blends the ore from each stockpile when feeding the processing plant to achieve the resultant gold content. In such circumstances, lower and higher grade ore stockpiles each represent a raw material, used in conjunction with each other, to deliver overall gold production, as supported by the relevant feed plan. Kibali’s high and medium grade ore stockpile is above 1.53 0.99 The processing of ore in stockpiles occurs in accordance with the Life of Mine (LOM) processing plan that has been optimized based on the known mineral reserves, current plant capacity and mine design. Ore tonnes contained in the stockpile which are to be milled as per the mine plan over the period beyond the next twelve months, are classified as non-current in the statement of financial position. Net realizable value of ore stockpiles is determined with reference to estimated contained gold and market gold prices applicable. Ore stockpiles which are blended together or with future ore mined when fed to the plant are assessed as an input to the gold production process to ensure the combined stockpiles are carried at the lower of cost and net realizable value. Ore stockpiles which are not planned to be blended in production are assessed separately to ensure they are carried at the lower of cost and net realizable value, although no such stockpiles are currently held. Costs of gold inventories include all costs incurred up until production of an ounce of gold such as milling costs, mining costs and directly attributable mine general and administration costs but exclude transport costs, refining costs and royalties. Net realizable value is determined with reference to estimated contained gold and market gold prices. Stores and materials consist of consumable stores and are valued at weighted average cost after appropriate impairment of redundant and slow moving items. Consumable stock for which the group has substantially all the risks and rewards of ownership are brought onto the statement of financial position as current assets.
Description of accounting policy for borrowing costs [text block]	INTEREST/BORROWING COSTS Interest is recognized on a time proportion basis, taking into account the principal outstanding and the effective rate over the period to maturity. Borrowing cost is expensed as incurred except to the extent that it relates directly to the construction of property, plant and equipment during the time that is required to complete and prepare the asset for its intended use, when it is capitalized as part of property, plant and equipment. Borrowing costs are capitalized as part of the cost of the asset where it is probable that the asset will result in economic benefit and where the borrowing cost can be measured reliably. No interest or borrowing costs have been capitalized during the year or during the prior year.
Description of accounting policy for royalties arrangements [text block]	ROYALTIES Royalty arrangements based on mineral production are in place at each operating mine. The primary type of royalty is a net smelter return royalty. Under this type of royalty the group pays the holder an amount calculated as the royalty percentage multiplied by the value of gold production at market gold prices less selling costs. A royalty expense is recorded when revenue from the sale of gold is recognized.
Description of accounting policy for financial instruments [text block]	FINANCIAL INSTRUMENTS Financial instruments are measured as set out below. Financial instruments carried on the statement of financial position include cash and cash equivalents, trade and other receivables, trade and other payables, available for sale financial assets, loans to joint ventures and loans to minorities. Cash and cash equivalents Cash and cash equivalents are carried in the statement of financial position at cost. For the purpose of the cash flow statement, cash and cash equivalents comprise cash on hand, deposits held at call with banks, other short term highly liquid investments with a maturity of three months or less at the date of purchase and bank overdrafts. In the statement of financial position, bank overdrafts are included in borrowings in current liabilities. Trade and other receivables Trade and other receivables are recognized initially at fair value. There is a rebuttable presumption that the transaction price is fair value unless this could be refuted by reference to market indicators. Subsequently, trade and other receivables are measured at amortized cost using the effective interest method, less provision for impairment. A provision for impairment of trade receivables is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of receivables. Significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganization, and default or delinquency in payments are considered indicators that the trade receivable may be impaired. The amount of the provision is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. Value added tax (TVA) TVA receivables are recognized initially at cost. Subsequently, TVA receivables are measured at amortized cost using the effective interest method, less provision for impairment. The group assesses at each reporting period whether there is an indication that these receivables may be impaired taking into account the risk of non-collectability and timing of receipt. Available-for-sale financial assets Available-for-sale financial assets are non-derivatives that are either designated in this category or not classified in any of the other categories. Available-for-sale financial assets are designated on acquisition. They are normally included in current assets and are carried at fair value. Where a decline in the fair value of an available-for-sale financial asset constitutes objective evidence of impairment, the amount of the loss is recognized in the statement of comprehensive income within other expenses, other movements in fair value are recognized in other reserves within other comprehensive income. Loans and borrowings (including bank borrowings when applicable, loans from joint venture partners and related companies and finance leases) Borrowings are recognized initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the statement of comprehensive income over the period of the borrowings using the effective interest method. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least 12 months after the statement of financial position date. Trade and other payables Accounts payable and other short term monetary liabilities, are initially recognized at fair value, which equates to the transaction price, and subsequently carried at amortized cost using the effective interest method.
Description of accounting policy for decommissioning, restoration and rehabilitation provisions [text block]	REHABILITATION COSTS The net present value of estimated future rehabilitation costs is provided for in the financial statements and capitalized within property, plant and equipment on initial recognition. Rehabilitation will generally occur on closure or after closure of a mine. Initial recognition is at the time of the construction or disturbance occurring and thereafter as and when additional construction or disturbances take place. The estimates are reviewed annually to take into account the effects of inflation and changes in estimated risk adjusted rehabilitation works cost and are discounted using rates that reflect the time value of money. Annual increases in the provision due to the unwinding of the discount are recognized in the statement of comprehensive income as a finance cost. The present value of additional disturbances and changes in the estimate of the rehabilitation liability are recorded to mining assets against an increase/decrease in the rehabilitation provision. The rehabilitation asset is amortized as noted previously. Rehabilitation projects undertaken, included in the estimates, are charged to the provision as incurred. Environmental liabilities, other than rehabilitation costs, which relate to liabilities arising from specific events, are expensed when they are known, probable and may be reasonably estimated.
Description of accounting policy for provisions [text block]	PROVISIONS Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made.
Description of accounting policy for income tax [text block]	CURRENT TAX Current tax is the tax expected to be payable on the taxable income for the year calculated using rates (and laws) that have been enacted or substantively enacted by the reporting date. It includes adjustments for tax expected to be payable or recoverable in respect of previous periods.
Description of accounting policy for deferred income tax [text block]	DEFERRED TAXATION Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, if the temporary difference arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit nor loss, it is not recognized. Deferred tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the statement of financial position date and are expected to apply when the temporary differences reverses. Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred tax is provided on temporary differences arising on investments in subsidiaries and joint ventures, except where the timing of the reversal of the temporary difference is controlled by the group and it is probable that the temporary difference will not reverse in the foreseeable future.
Description of accounting policy for contingent liabilities and contingent assets [text block]	CONTINGENT LIABILITIES The group discloses contingent liabilities when possible obligations exist as a result of past events, unless the possible outflows of economic benefits are considered remote. By their nature, contingencies will often only be resolved when one or more future events occur or fail to occur. The assessment of such contingencies inherently involves the exercise of significant judgment and estimates of the outcome of future events. In certain circumstances, to provide transparency, the group voluntarily elects to disclose information regarding claims for which any outflow of economic benefit is considered remote.
Description of accounting policy for issued capital [text block]	SHARE CAPITAL Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction from the proceeds.
Description of accounting policy for leases [text block]	LEASES As lessee Determining whether an arrangement is, or contains, a lease is based on the substance of the arrangement and requires an assessment of whether fulfillment of the arrangement is dependent on the use of a specific asset or assets and whether the arrangement conveys a right to use the asset. Leases of plant and equipment where the Company assumes a significant portion of risks and rewards of ownership are classified as a finance lease. Finance leases are capitalized at the estimated present value of the underlying lease payments. Each lease payment is allocated between the liability and the finance charges to achieve a constant rate on the finance balance outstanding. The interest portion of the finance payment is charged to the statement of comprehensive income over the lease period. The plant and equipment acquired under the finance lease are depreciated over the useful lives of the assets, or over the lease term if shorter. Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the statement of comprehensive income on a straight-line basis over the period of the lease. As lessor Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Lease income under operating leases is recognized to the statement of comprehensive income on a straight-line basis over the period of the lease. Where a significant portion of the risks and rewards of ownership are transferred the group is required to account as though it were acting as a lessor in a finance lease. Hire purchase loans disclosed under receivables represent outstanding amounts due under finance lease arrangements less finance charges allocated to future periods.
Description of accounting policy for recognition of revenue [text block]	REVENUE RECOGNITION The group enters into contracts for the sale of gold. Revenue arising from gold sales under these contracts is recognized when the price is determinable, the product has been delivered in accordance with the terms of the contract, the significant risks and rewards of ownership have been transferred to the customer and collection of the sales price is reasonably assured. These criteria are met when the gold leaves the mines smelt house. As sales from gold contracts are subject to customer survey adjustment, sales are initially recorded on a provisional basis using the group’s best estimate of the contained metal. Subsequent adjustments are recorded in revenue to take into account final assay and weight certificates from the refinery, if different from the initial certificates. The differences between the estimated and actual contained gold have historically not been significant.
Description of accounting policy for exploration and evaluation expenditures [text block]	EXPLORATION AND EVALUATION COSTS The group expenses all exploration and evaluation expenditures until the directors conclude that a future economic benefit is more likely than not of being realized, i.e. ‘probable’. While the criteria for concluding that expenditure should be capitalized is always probable, the information that the directors use to make that determination depends on the level of exploration. Exploration and evaluation expenditure on brownfield sites, being those adjacent to mineral deposits which are already being mined or developed, is expensed as incurred until the directors are able to demonstrate that future economic benefits are probable through the completion of a suitable technical and financial study that demonstrates the viability of the project, after which the expenditure is capitalized as a mine development cost. The technical and financial study consists of a comprehensive study of the viability of a mineral project that has advanced to a stage where the mining method, in the case of underground mining, or the pit configuration, in the case of an open pit, has been established, and which, if an effective method of mineral processing has been determined, includes a financial analysis based on reasonable assumptions of technical, engineering, operating economic factors and the evaluation of other relevant factors. The study, when combined with existing knowledge of the mineral property that is adjacent to mineral deposits that are already being mined or developed, allow the directors to conclude that it is more likely than not that the group will obtain future economic benefit from the expenditures. Exploration and evaluation expenditure on greenfield sites, being those where the group does not have any mineral deposits which are already being mined or developed, is expensed until such time as the directors have sufficient information to determine that future economic benefits are probable, after which the expenditure is capitalized as a mine development cost. The information required by directors is typically a final feasibility study however a technical and financial study may be deemed to be sufficient where the additional work required to prepare a final feasibility study is not significant or the work done at the technical and financial study level clearly demonstrates an economic asset. Exploration and evaluation expenditure relating to extensions of mineral deposits which are already being mined or developed, including expenditure on the definition of mineralization of such mineral deposits, is capitalized as a mine development cost following the completion of an economic evaluation. This economic evaluation is distinguished from a technical and financial study in that some of the information that would normally be determined from first principles is instead obtained from the existing mine or development. This information when combined with existing knowledge of the mineral property already being mined or developed allow the directors to conclude that more likely than not the Company will obtain future economic benefit from the expenditures. Costs relating to property acquisitions are capitalized within development costs.
Description of accounting policy for dividends [text block]	DIVIDEND DISTRIBUTION Dividend distribution to the Company’s shareholders is recognized as a liability in the group’s financial statements in the period in which the dividends are approved by the board of directors and declared to shareholders.

Key accounting estimates and 44

Key accounting estimates and judgments (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Detailed Information Of Gold Price Assumptions Used In Reserve Optimization Calculations [text block]	The following gold prices were used in the mineral reserves optimization calculations: $/oz 2017 2016 2015 Morila 1,000 1,000 1,000 Loulo: open pit 1,000 1,000 1,000 Loulo: underground 1,000 1,000 1,000 Tongon 1,000 1,000 1,000 Kibali 1,000 1,000 1,000 Massawa 1,000 1,000 1,000 Gounkoto 1,000 1,000 1,000
Kibali Jersey Limited [member]
Disclosure Of Detailed Information Of Gold Price Assumptions Used In Reserve Optimization Calculations [text block]	The following gold prices were used in the mineral reserves optimization calculation: Kibali 2017 2016 2015 $/oz 1,000 1,000 1,000

OTHER INCOME AND EXPENSES (Tabl

OTHER INCOME AND EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of detailed information of other operating income expenses [text block]	$000 Dec 31, Dec 31, Dec 31, Other Income from operating activities comprise: Other income 146 136 - Net foreign exchange gains - - 1,657 146 136 1,657 The total other income is not considered to be part of the main revenue generating activities and as such the group presents this income separately from revenue. $000 Dec 31, Dec 31, Dec 31, Other Expenses: Management Fee 4,385 4,296 3,658 Net foreign exchange loss 38,469 36,134 - Discounting provision 12,177 7,820 - 55,031 48,250 3,658

MINING AND PROCESSING COSTS (Ta

MINING AND PROCESSING COSTS (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of detailed information of mining and processing costs [text block]	$000 Dec 31, Dec 31, Dec 31, Mining and processing costs comprise: Mine production costs 232,209 202,323 177,467 Movement in production inventory and ore stockpiles 28,933 (7,389) 8,234 Depreciation and amortization 264,415 210,925 192,509 Other mining and processing costs 173,423 188,863 172,502 698,980 594,722 550,712

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about Income taxes [text block]	$000 Note Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Current taxation 135,412 101,546 41,972 Deferred taxation 11 10,395 6,838 6,031 145,807 108,384 48,003 The tax on the group’s profit before tax differs from the theoretical amount that would arise using the statutory tax rate applicable to the group’s operations. Profit before tax 480,854 402,605 260,778 Tax calculated at effective tax rate of 30% 144,256 120,782 78,233 Difference in tax rates in overseas jurisdictions (4,771) (3,513) - Reconciling items: • Income taxed at 0% (17,499) (17,002) (8,483) • Expenses deductible at 0% 12,864 10,947 7,528 Withholding tax adjustment on Tongon dividend 10,908 2,272 - Côte d’Ivoire tax holiday permanent differences - - (7,868) Share of equity accounted joint venture profits (3,585) (5,190) (23,191) Other permanent differences 3,634 88 1,784 Taxation charge 145,807 108,384 48,003
Kibali Jersey Limited [member]
Disclosure of detailed information about Income taxes [text block]	$000 Dec 31, Dec 31, Dec 31, Current taxation - 7,868 8,377 Deferred taxation 10 (54,333) (30,830) 9,463 (54,333) (22,962) 17,840 The tax on the group’s profit before tax differs from the theoretical amount that would arise using the statutory tax rate applicable to the group’s operations. $000 Dec 31, Dec 31, Dec 31, (Loss)/profit before tax (40,349) 26,728 155,825 Tax calculated at the DRC effective tax rate of 30% (12,105) 8,018 46,748 Reconciling items: Exempt income (40,948) (38,922) (34,218) Net capital allowances not deductible - - (157) Other permanent differences (1,280) 74 (2,910) Corporate tax at 1/100 from revenue - 7,868 8,377 Taxation (credit) / charges (54,333) (22,962) 17,840

Share capital and premium (Tabl

Share capital and premium (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of detail information about annual movement of Number Of Shares Outstanding [text block]	Refer to the Statement of Changes in Equity for more detail on the annual movement of share capital and share premium. $000 Dec 31, Dec 31, Dec 31, Movement in the number of ordinary shares outstanding: Balance at the beginning of the year 5 5 5 Shares issued - - Balance at the end of the year 5 5 5

Earnings and dividends per sh49

Earnings and dividends per share (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Earnings Per Share [Abstract]
Earnings per share [text block]	Income Shares Per share For the year ended December 31, 2017 Basic earnings per share 93,803,752 Shares outstanding at January 1, 2017 251,010 Weighted number of shares issued 278,017 94,054,762 2.96 Income available to shareholders Effective of dilutive securities Share options 5,257 Restricted shares 1,074,144 Diluted earnings per share 278,017 95,134,163 2.92 For the year ended December 31, 2016 Basic earnings per share Shares outstanding at January 1, 2016 93,232,920 Weighted number of shares issued 411,190 Income available to shareholders 247,474 93,644,110 2.64 Effective of dilutive securities Share options 38,833 Restricted shares 1,110,899 Diluted earnings per share 247,474 94,793,842 2.61 For the year ended December 31, 2015 Basic earnings per share Shares outstanding at January 1, 2015 92,674,085 Weighted number of shares issued 419,607 Income available to shareholders 188,677 93,093,692 2.03 Effective of dilutive securities Share options 77,227 Restricted shares 922,884 Diluted earnings per share 188,677 94,093,803 2.01

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about trade and other receivables [text block]	$000 Note Dec 31, 2017 Dec 31, 2016 Trade receivables 17,998 34,099 Advances to contractors 2,638 7,861 Taxation debtors 7.1 142,090 112,684 Prepayments and other receivables 68,999 67,712 Gounkoto advance dividend 7.2 7,602 9,074 Total 239,327 231,430 Less: current portion (184,275) (231,430) Non-current portion 7.1 55,052 -
Kibali Jersey Limited [member]
Disclosure of detailed information about trade and other receivables [text block]	$000 Dec 31, Dec 31, Dec 31, Advances to contractors 2,280 6,070 5,238 Trade receivables 28,295 1,497 850 Prepayments and other receivables 21,544 24,239 37,501 Loan to SOKIMO (refer to note 26) 18,827 17,381 16,046 Other loans 8,360 3,081 5,231 TVA receivables 134,514 131,214 137,369 Hire purchase loans 4,465 10,978 11,277 218,285 194,460 213,512 Less: Non-current portion Loan to SOKIMO 18,827 17,381 16,046 Other loans and receivables (including TVA receivables) 105,768 65,616 10,445 Hire purchase loans 699 4,438 6,297 125,294 87,435 32,788 Current portion 92,991 107,025 180,724
Disclosure of finance lease and operating lease by lessor [text block]	$000 Dec 31, Dec 31, Dec 31, Gross hire purchase loans – minimum lease payments: No later than 1 year 3,766 6,540 4,980 Later than 1 year and no later than 5 years 699 4,438 6,297 Later than 5 years - - - Gross investment on hire purchase loans 4,465 10,978 11,277

Inventories and ore stockpiles

Inventories and ore stockpiles (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about inventories [text block]	$000 Dec 31, 2017 Dec 31, 2016 Consumable stores 100,992 100,530 Stockpiles 162,468 172,541 Gold in process 12,871 10,662 Total inventories and ore stockpiles 276,331 283,733 Less: current portion (116,797) (119,027) Non-current portion 159,534 164,706
Kibali Jersey Limited [member]
Disclosure of detailed information about inventories [text block]	$000 Dec 31, Dec 31, Dec 31, Gold on hand 8,970 16,041 5,385 Consumables stores 43,728 43,363 39,782 Ore stockpiles 29,869 52,332 70,874 Gold in process 3,443 4,540 5,719 86,010 116,276 121,760 Less: Non-current portion Ore stockpiles 12,779 43,771 43,162 Current portion 73,231 72,505 78,598

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [text block]	$000 Dec 31, 2017 Dec 31, 2016 Mine properties, mine development costs and mine plant facilities and equipment cost At the beginning of year 2,462,421 2,272,985 Additions 199,324 189,436 2,661,745 2,462,421 Accumulated depreciation and amortization At beginning of year 901,561 726,218 Charge for the year 182,900 175,343 1,084,461 901,561 Net book value 1,577,284 1,560,860
Disclosure of detailed information about useful lives of property, plant and equipment [text block]	Dec 31, 2017 Dec 31, 2016 The remaining maximum estimated useful lives in respect of proven and probable reserves for each mine included above is as follows: Loulo 12 years Gounkoto 10 years 10 years Tongon 4 years 4 years
Kibali Jersey Limited [member] | Mining assets [member]
Disclosure of detailed information about property, plant and equipment [text block]	$000 Dec 31, Dec 31, Dec 31, Mine properties, mine development costs and mine plant facilities and equipment cost Cost Balance at the beginning of the year 2,475,924 2,266,854 1,989,757 Additions 246,406 209,070 277,097 Balance at the end of the year 2,722,330 2,475,924 2,266,854 Accumulated depreciation Balance at the beginning of the year (407,617) (254,551) (121,620) Depreciation charged for the year (206,995) (153,067) (132,931) Balance at the end of the year (614,612) (407,618) (254,551) Net book value 2,107,718 2,068,306 2,012,303
Disclosure of detailed information about useful lives of property, plant and equipment [text block]	$000 Dec 31, Dec 31, Dec 31, Finance Lease Mining Assets 16,627 46,153 53,908

MINERAL PROPERTIES (Tables)

MINERAL PROPERTIES (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [text block]	$000 Dec 31, 2017 Dec 31, 2016 Mine properties, mine development costs and mine plant facilities and equipment cost At the beginning of year 2,462,421 2,272,985 Additions 199,324 189,436 2,661,745 2,462,421 Accumulated depreciation and amortization At beginning of year 901,561 726,218 Charge for the year 182,900 175,343 1,084,461 901,561 Net book value 1,577,284 1,560,860
Kibali Jersey Limited [member] | Mining property [member]
Disclosure of detailed information about property, plant and equipment [text block]	$000 Dec 31, Dec 31, Dec 31, Cost At the beginning and end of the year 745,092 745,092 745,092 Amortization At the beginning of the year (168,556) (110,698) (51,120) Charge for the year (57,419) (57,858) (59,578) At the end of the year (225,975) (168,556) (110,698) Net book value 519,117 576,536 634,394

Investments and loans in subs54

Investments and loans in subsidiaries and joint ventures (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of joint ventures [text block]	$000 Dec 31, 2017 Dec 31, 2016 Beginning of year Investments in equity accounted joint ventures 1,414,211 1,427,316 Other investments in joint venture 34,423 45,940 Total investments in joint ventures 1,448,634 1,473,256 Funds invested in equity accounted joint ventures 30,898 - Loans repaid by equity accounted joint ventures (746) (11,927) Share of profits of equity accounted joint ventures 11,950 17,299 Dividends - (30,000) Share of other comprehensive income of joint ventures (17) 6 End of year Investments in equity accounted joint ventures 1,440,610 1,414,211 Other investments in joint ventures 50,109 34,423 Total investments in joint ventures 1,490,719 1,448,634
Kibali Jersey Limited [member]
Disclosure of joint ventures [text block]	Set out below is the summarized financial information for Kibali (Jersey) Limited which is accounted for using the equity method (amounts stated at 100% before intercompany eliminations). $000 Dec 31, 2017 Dec 31, 2016 Summarized statement of financial position Current Cash and cash equivalents 3,288 18,865 Other current assets (excluding cash) 166,278 179,588 Total current assets 169,566 198,453 Financial liabilities (excluding trade payables) (8,656) (10,285) Other current liabilities (including trade payables) (105,565) (133,113) Total current liabilities (114,221) (143,398) Non-current Assets 2,833,946 2,805,020 Financial liabilities (41,210) (46,929) Other liabilities (23,244) (32,259) Total non-current liabilities (64,454) (79,188) Net assets 2,824,837 2,780,887 $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Summarized statement of comprehensive income Revenue 754,852 709,372 747,272 Depreciation and amortization (264,415) (210,925) (192,509) Interest income 4,147 4,735 4,818 Interest expense (5,478) (5,298) (5,376) Profit before tax (40,349) 26,728 155,825 Income tax 54,333 22,962 (17,840) Post-tax profit 13,984 49,690 137,985 Other comprehensive income—gain on available for sale financial asset - - 3,144 $000 Dec 31, 2017 Dec 31, 2016 Reconciliation of the group’s summarized financial information presented to the carrying amount of the group’s interest in the Kibali joint venture Opening net assets January 1 2,780,887 2,791,184 Profit for the period 13,984 49,690 (Loss)/gain on available-for-sale financial asset (34) 13 Other comprehensive income (34) 13 Funds advanced 30,000 - Dividends received - (60,000) Closing net assets 2,824,837 2,780,887 Interest in joint venture at 50% 1,412,419 1,390,443 Mineral property at acquisition 23,549 26,154 Adjustment to reflect attributable interest 8,793 1,565 Carrying value 1,444,760 1,418,162
Morila [Member]
Disclosure of joint ventures [text block]	Set out below is the summarized financial information for Morila which is accounted for using the equity method (amounts stated at 100% before intercompany eliminations). $000 Dec 31, 2017 Dec 31, 2016 Summarized statement of financial position Current Cash and cash equivalents 86 8,569 Other current assets (excluding cash) 54,126 49,804 Total current assets 54,212 58,373 Other current liabilities (including trade payables) (20,787) (53,484) Total current liabilities (20,787) (53,484) Non-current Assets 14,851 15,493 Other liabilities (41,562) (25,315) Total non-current liabilities (41,562) (25,315) Net liabilities (5,172) (4,933) $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Summarized statement of comprehensive income Revenue 86,073 65,086 142,992 Depreciation and amortization (16,480) (9,464) (23,337) Interest income 18 14 2 Interest expense (1,080) (806) (999) Loss before tax (239) (16,256) 24,856 Income tax - (1,543) (7,455) Post-tax loss (239) (17,799) 17,401 Other comprehensive expense - - - Total comprehensive expense (239) (17,799) 17,401 Dividends received from joint venture - - 25,680 $000 Dec 31, 2017 Dec 31, 2016 Reconciliation of the summarized financial information presented to the carrying amount of the group’s interest in the Morila joint venture Summarized financial information Opening net (liabilities)/assets January 1 (4,933) 12,866 Loss for the period (239) (17,799) Closing net liabilities (5,172) (4,933) Interest in joint venture at 40% (2,069) (1,973) Carrying value (2,069) (1,973)
RAL 1 Limited [Member]
Disclosure of joint ventures [text block]	Set out below is the summarized financial information for RAL 1 Limited which is accounted for using the equity method (amounts stated at 100% before intercompany eliminations). $000 Dec 31, 2017 Dec 31, 2016 Summarized statement of financial position Current Cash and cash equivalents 8,820 649 Other current assets (excluding cash) 805 632 Total current assets 9,625 1,281 Other current liabilities (including trade payables) (19,237) (6,318) Total current liabilities (19,237) (6,318) Non-current Assets 32,474 9,417 Financial liabilities (21,351) (3,517) Total non-current liabilities (21,351) (3,517) Net assets 1,511 863 $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Summarized statement of comprehensive income Revenue 5,186 5,133 1,463 Depreciation and amortization (3,647) (4,211) (779) Interest income 554 544 1 Interest expense (1,018) (650) (354) Profit before tax 648 376 201 Income tax - - - Post-tax profit 648 376 201 Other comprehensive income - - - Total comprehensive income 648 376 201 Reconciliation of the summarized financial information presented to the carrying amount of the group’s interest in the RAL 1 joint venture Opening net assets January 1 863 487 286 Profit for the period 648 376 201 Closing net assets 1,511 863 487 Interest in joint venture at 50.1% 757 432 244 Funding classified as long term debt by joint venture in ‘other investments in joint ventures’ 21,970 2,335 4,146 Carrying value 22,727 2,767 4,390
RAL 2 Limited [Member]
Disclosure of joint ventures [text block]	Set out below is the summarized financial information for RAL 2 Limited which are accounted for using the equity method (amounts stated at 100% before intercompany eliminations). The group has a 50.1% interest with WAMFF Ltd being the joint venture partner. $000 Dec 31, 2017 Dec 31, 2016 Summarized statement of financial position Current Cash and cash equivalents 1,692 1,122 Other current assets (excluding cash) 5,790 1,922 Total current assets 7,482 3,044 Other current liabilities (including trade payables) (19,911) (24,706) Total current liabilities (19,911) (24,706) Non-current Assets 32,583 46,978 Financial liabilities (18,737) (24,262) Total non-current liabilities (17,737) (24,262) Net assets 1,417 1,054 $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Summarized statement of comprehensive income Revenue 18,679 22,179 23,840 Depreciation and amortization (14,395) (16,638) (17,290) Interest expense (2,080) (2,237) (3,718) Profit before tax 363 442 455 Income tax - - - Post-tax profit 363 442 455 Other comprehensive income - - - Total comprehensive income 363 442 455 Reconciliation of the summarized financial information presented to the carrying amount of the group’s interest in the RAL 2 joint venture Opening net assets January 1 1,054 612 157 Profit for the period 363 442 455 Closing net assets 1,417 1,054 612 Interest in joint venture at 50.1% 710 528 307 Funding classified as long term debt by joint venture in ‘other investments in joint ventures’ 26,644 31,128 41,243 Carrying value 27,354 31,656 41,550

Deferred taxation (Tables)

Deferred taxation (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about deferred taxes [text block]	$000 Note Dec 31, 2017 Dec 31, 2016 Deferred tax is calculated on temporary differences under the liability method using a tax rate of 30% in respect of the Malian operations and 25% in respect of the Ivorian operations. The movement on deferred taxation is as follows: At the beginning of the year 42,386 35,548 Statement of comprehensive income charge 4 10,395 6,838 At the end of the year 52,781 42,386 Deferred taxation assets and liabilities comprise the following: Accelerated tax depreciation 52,181 41,786 Deferred stripping 600 600 Deferred taxation liability 52,781 42,386 Net deferred tax liability 52,781 42,386
Kibali Jersey Limited [member]
Disclosure of detailed information about deferred taxes [text block]	$000 Dec 31, Dec 31, Dec 31, Deferred taxation is calculated on temporary differences under the liability method using a tax rate of 30% in respect of the DRC operations. The movement on deferred taxation is as follows: At the beginning of the year (11,096) (41,926) (32,463) Statement of comprehensive income charge 54,333 30,830 (9,463) At the end of the year 43,237 (11,096) (41,926) Deferred taxation comprise the following: Tax losses carried forward attributable to accelerated capital allowances 520,526 359,449 292,981 Accelerated capital allowances (477,289) (370,545) (334,907) Net deferred taxation asset/(liability) 43,237 (11,096) (41,926)

AVAILABLE-FOR-SALE FINANCIAL 56

AVAILABLE-FOR-SALE FINANCIAL ASSET (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of detailed information about available for sale assets [text block]	$000 Dec 31, Dec 31, Dec 31, Balance at the beginning of the year 58 45 74 Fair value movement recognized in other comprehensive income (34) 12 (20) Exchange gain/(loss) 2 1 (9) Balance at the end of the year 26 58 45

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about trade and other payables [text block]	$000 Note Dec 31, 2017 Dec 31, 2016 Trade payables 26,766 27,993 Payroll and other compensation 13,513 11,609 Accruals and other payables 101,407 78,701 Gounkoto priority dividend 2 7,602 9,074 149,288 127,377
Kibali Jersey Limited [member]
Disclosure of detailed information about trade and other payables [text block]	$000 Dec 31, Dec 31, Dec 31, Trade payables 46,060 57,590 61,193 Payroll and other compensations 1,908 1,813 2,240 Bank account in overdraft 12,762 11,551 7,346 Accruals and other payables 43,903 60,905 46,304 104,633 131,859 117,083

Provision for environmental r58

Provision for environmental rehabilitation (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Provision For Environmental Rehabilitation [Abstract]
Disclosure Of Detailed Information About Non Current Provision [text block]	$000 Dec 31, 2017 Dec 31, 2016 Opening balance 55,455 47,581 Unwinding of discount 1,386 1,070 Change in estimates (1,103) 6,804 At December 31 55,738 55,455

Employment cost (Tables)

Employment cost (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of employee benefits [text block]	Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Total employee benefit cost was as follows: Short term benefits 75,507 71,453 50,199 Pension contributions 13,665 11,460 5,104 Share-based payments 21,993 23,891 22,943 Total 111,165 106,804 78,246
Disclosure of number and weighted average remaining contractual life of outstanding share options [text block]	Range of exercise price ($) Number of options Weighted average Weighted average At December 31, 2017 2,000 0.39 45.27 2,000 0.39 45.27 At December 31, 2016 22.19 – 22.19 12,477 0.64 22.19 26.26 – 46.34 2,000 1.39 45.27 14,477 0.74 25.38 At December 31, 2015 22.19 – 22.19 78,277 1.64 22.19 26.26 – 46.34 31,000 2.80 30.69 56.99 – 56.99 16,000 3.67 56.99 125,277 2.19 28.74
Disclosure of number and weighted average exercise prices of share options Exercisable [text block]	The following table summarizes information about options that are exercisable as at December 31, 2017, 2016 and 2015: Range of exercise price ($) Number of exercisable options Weighted average At December 31, 2017 26.26 – 46.34 2,000 45.27 2,000 45.27 At December 31, 2016 22.19 – 22.19 12,477 22.19 26.26 – 46.34 2,000 45.27 14,477 25.38 At December 31, 2015 22.19 – 22.19 78,277 22.19 26.26 – 46.34 31,000 30.69 56.99 – 56.99 16,000 56.99 125,277 28.74
Disclosure of number and weighted average exercise prices of other equity instruments [text block]	Weighted Weighted Weighted Shares 2017 Shares 2016 Shares 2015 Weighted Weighted Weighted Shares granted to executive directors At January 1 82.62 80.88 84.54 191,472 189,142 160,655 - Awarded 87.87 92.75 73.42 49,357 44,664 55,781 - Vested - 76.53 76.53 - (3,882) (3,882) - Lapsed 90.76 86.45 89.08 (26,810) (38,452) (23,412) - At December 31 82.81 82.62 80.88 214,019 191,472 189,142 1.39 1.74 2.42 Shares awarded to non-executive Directors - At January 1 - - 76.15 - - - - Awarded 88.99 99.68 76.15 10,500 13,500 13,500 - Vested 88.99 99.68 76.15 (10,500) (13,500) (13,500) - At December 31 - - - - - - - - - Shares awarded to employees At January 1 82.53 81.36 84.36 1,220,600 1,189,300 1,248,800 - Awarded 94.73 89.63 75.99 179,100 374,100 286,300 - Vested 83.28 89.75 89.08 (259,450) (234,100) (222,300) - Lapsed 80.88 76.57 84.66 (76,950) (108,700) (123,500) - At December 31 82.85 82.53 81.36 1,063,300 1,220,600 1,189,300 2.45 2.14 2.75
Employee [Member]
Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block]	The key assumptions used in this model for shares granted during the year ending December 31, 2017 were as follows: $000 Note January 2017 August 2017 Quantity of shares issued 149,100 30,000 Fair value of shares issued $13.6 million $2.7 million Performance period 3,4 and 5 years 3,4 and 5 years Volatility 14.1 37.2%,36.7% and 39.5% 36.9%,35.3% and 36.3% Risk-free interest rate 1.4%,1.8% and 1.8% 1.5%,1.8% and 1.8% Dividend yield 1.07 % 1.06 % Weighted average share price on grant and valuation date 14.2 $ 94.94 $ 93.70
Executive Director [Member]
Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block]	The key assumptions used in this model for shares awarded during the years ending December 31, 2017 and 2016 were as follows: $000 Note March 2017 March 2016 March 2015 Quantity of shares issued 49,357 44,664 55,782 Fair value of shares awarded $1.9 million $2.2 million $2.0 million Performance period 4 years and a 1 year post vesting retention requirement 4 years and a 1 year post vesting retention requirement 4 years and a 1 year post vesting retention requirement Risk free interest rate 1.90 % 1.01 % 1.45 % Volatility 14.1 37 % 35 % 35 % Euromoney Global Gold Index volatility 37 % 35 % 35 % Correlation used between the Euromoney Global Gold Index and the company TSR 60 % 85 % 85 % Weighted average share price on grant and valuation date 14.2 $ 87.41 $ 88.50 $ 67.41
Executive Director [Member] | Co-Investment Plan [Member]
Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block]	The key assumptions used in this model for awards made under the Co-Investment Plan during the years ending December 31, 2017, 2016 and 2015 were as follows: $000 Note March 2017 March 2016 March 2015 Quantity of shares committed 61,697 55,830 69,726 Fair value $2.8 million $2.3 million $2.6 million Performance period 3 years 3 years 3 years Risk free interest rate 1.66 % 1.01 % 0.89 % Volatility 14.1 37 % 35 % 35 % Euromoney Global Gold Index volatility 37 % 35 % 35 % Correlation used between the Euromoney Global Gold Index and the company TSR 85 % 85 % 85 % Weighted average share price on grant and valuation date 14.2 $ 87.41 $ 88.50 $ 74.0
Senior Management [Member] | Co-Investment Plan [Member]
Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block]	The key assumptions used in this model for awards made under the Co-Investment Plan during the years ending December 31, 2017 and 2016 were as follows: $000 Note March 2017 March 2016 March 2015 Quantity of shares committed 6,845 10,739 20,730 Fair value $0.3 million $0.4 million $0.8 million Performance period 3 years 3 years 3 years Risk free interest rate 1.66 % 1.01 % 0.95 % Volatility 14.1 37 % 35 % 35 % Euromoney Global Gold Index volatility 37 % 35 % 35 % Correlation used between the Euromoney Global Gold Index and the company TSR 85 % 85 % 85 % Weighted average share price on grant and valuation date 14.2 $ 87.41 $ 88.50 $ 73.38

Segmental information (Tables)

Segmental information (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Segmental Information [Line Items]
Disclosure of operating segments [text block]	Country of Mali Côte DRC Jersey $000 Group’s Loulo Gounkoto Tongon Group’s Corporate Intercompany Sub-total Joint Total Year ended December 31, 2017 Total revenue 34,429 544,941 366,510 368,765 339,683 - 1,654,329 374,112 1,280,217 Mining and processing costs excluding depreciation (24,722) (198,834) (139,598) (186,508) (195,554) 11,957 - (733,259) 208,320 (524,939) Depreciation and amortization (6,592) (106,255) (10,506) (65,304) (123,679) (835) - (313,171) 130,271 (182,900) Mining and processing costs (31,314) (305,089) (150,104) (251,812) (319,233) 11,122 - (1,046,430) 338,591 (707,839) Royalties (2,064) (32,616) (21,991) (11,055) (14,361) - - (82,087) 16,424 (65,663) Exploration and corporate expenditure - (3,874) (1,228) (1,979) (1,764) (40,704) - (49,549) 1,764 (47,785) Other (expenses)/income (530) (20,193) (6,297) (8,922) (16,274) 22,364 - (29,852) 36,915 7,063 Finance costs (432) (12,096) (208) (643) (2,739) 6,327 11,407 1,616 (4,723) (3,107) Finance Income 7 25 4 1,066 2,074 16,607 (11,407) 8,376 (2,358) 6,018 Share of profits equity accounted joint ventures - - - - - - - - 11,950 11,950 Profit before income tax 96 171,098 186,686 95,420 (12,613) 15,716 - 456,404 24,450 480,854 Income tax expense - (51,399) (55,744) (27,721) 24,450 (10,943) - (121,357) (24,450) (145,807) Net profit 96 119,699 130,942 67,699 11,837 4,773 - 335,047 - 335,047 Capital expenditure (4,204) (104,700) (49,738) (9,131) (111,608) (32,410) - (311,791) 115,812 (195,979) Total assets 27,625 1,419,695 239,693 504,841 1,501,756 2,180,571 - 5,874,181 (1,570,712) 4,303,469 Total external liabilities (24,940) (111,979) (48,883) (78,835) (83,159) (49,125) - (396,920) 88,485 (308,435) Year ended December 31, 2016 Total revenue 26,035 524,357 357,171 319,249 319,218 - 1,546,029 (345,252) 1,200,777 Mining and processing costs excluding depreciation (21,744) (200,489) (146,574) (187,839) (172,709) 13,683 - (715,673) 180,771 (534,902) Depreciation and amortization (3,785) (105,236) (23,513) (45,704) (102,718) (11,335) (292,292) 116,949 (175,343) Mining and processing costs (25,529) (305,725) (170,088) (233,544) (275,427) 2,348 (1,007,965) 297,720 (710,245) Royalties (1,544) (31,384) (21,430) (9,562) (14,839) - (78,760) 16,383 (62,377) Exploration and corporate expenditure - (2,435) (1,026) (1,221) (1,809) (36,520) (43,010) 1,809 (41,202) Other (expenses)/income (5,151) (16,750) (23,004) (4,204) (13,872) 32,151 (30,830) 30,823 (7) Finance costs (317) (14,693) (149) (486) (3,282) 6,355 14,108 1,536 (4,729) (3,193) Finance income 6 24 3 20 3,985 15,960 (14,108) 5,889 (4,336) 1,553 Share of profits of equity accounted joint ventures - - - - - - - - 17,299 17,299 Profit before income tax (6,501) 153,393 141,478 70,252 13,974 20,294 - 392,889 9,716 402,605 Income tax expense (617) (46,072) (42,444) (17,563) 10,333 (2,306) (98,668) (9,716) (108,384) Net profit (7,118) 107,321 99,034 52,689 24,307 17,988 - 294,221 - 294,221 Capital expenditure (444) (144,363) (3,800) (15,446) (56,222) (7,174) - (227,449) (56,666) (170,783) Total assets 29,546 1,399,837 204,375 536,014 1,501,737 1,931,345 - 5,602,854 (1,561,896) 4,040,958 Total external liabilities (31,520) (128,557) (38,842) (69,878) (111,293) (64,501) - (444,591) 158,355 (286,236) Year ended December 31, 2015 Total revenue 57,197 406,643 317,524 277,253 336,272 - - 1,394,889 (393,469) 1,001,420 Mining and processing costs excluding depreciation (31,583) (236,439) (145,952) (193,504) (161,191) 12,677 - (755,992) 180,097 (575,895) Depreciation and amortization (9,335) (98,761) (6,705) (44,362) (87,275) (10,141) (256,579) 105,677 (150,902) Mining and processing costs (40,918) (335,200) (152,657) (237,866) (248,466) 2,536 - (1,012,571) 285,774 (726,797) Royalties (1,419) (24,329) (19,052) (8,292) (13,588) - - (66,680) 15,007 (51,673) Exploration and corporate expenditure - (2,079) (1,064) (1,206) (3,390) (41,146) - (48,885) 3,818 (45,067) Other (expenses)/income (4,520) (9,727) (12,533) (2,487) (1,290) 32,599 - 2,042 7,849 9,891 Finance costs (399) (13,428) (171) (1,734) 4,839 (3,544) 13,208 (1,229) (3,182) (4,411) Finance income 1 17 3 10 4,108 13,291 (13,208) 4,222 (4,110) 112 Share of profits of equity accounted joint ventures - - - - - - - - 77,303 77,303 Profit before income tax 9,942 21,897 132,050 25,678 78,485 3,736 - 271,788 (11,010) 260,778 Income tax expense (2,982) (4,013) (39,615) (4,342) (8,028) (33) - (59,013) 11,010 (48,003) Net profit 6,960 17,884 92,435 21,336 70,457 3,703 - 212,775 - 212,775 Capital expenditure (2,924) (192,271) (3,087) (18,573) (123,728) (4,107) - (344,690) 128,652 (216,038) Total assets 37,370 1,409,986 196,388 472,724 1,517,381 1,620,700 - 5,254,549 (1,517,229) 3,737,320 Total external liabilities (32,124) (126,380) (33,850) (43,514) (121,790) (52,051) - (409,709) 167,459 (242,250)
Kibali Jersey Limited [member]
Disclosure Of Segmental Information [Line Items]
Disclosure of detailed information about operating segments [text block]	Major customers are not identifiable because all gold is sold through an agent. Country of operation DRC Jersey $000 Kibali Corporate Intercompany Total Year ended December 31, 2017 Profit and loss Total revenue 754,852 - - 754,852 Mining and processing costs excluding depreciation (436,054) - 1,489 (434,565) Depreciation and amortization (240,345) (2,494) (21,575) (264,415) Mining and processing costs (676,399) (2,494) (20,086) (698,980) Royalties (31,913) - - (31,913) Exploration and corporate expenditure (7,089) (1,116) - (8,205) Other (expenses)/income and JV profit (54,042) 758 (1,489) (54,772) Finance costs (163,730) - 158,252 (5,478) Finance income 1,464 13,861 (11,178) 4,147 (Loss)/profit before income tax (176,857) 11,009 125,499 (40,349) Income tax expense 54,333 - - 54,333 Net (loss)/profit for the year (122,524) 11,009 125,499 13,984 Capital expenditure 246,406 - 246,406 Total assets 2,969,999 9,514,687 (9,481,173) 3,003,512 Total liabilities (3,093,485) (5,778,281) 8,693,091 (178,675) Year ended December 31, 2016 Profit and loss Total revenue 709,372 - - 709,372 Mining and processing costs excluding depreciation (385,295) - 1,498 (383,797) Depreciation and amortization (186,124) (2,165) (22,636) (210,925) Mining and processing costs (571,419) (2,165) (21,138) (594,722) Royalties (32,976) - - (32,976) Exploration and corporate expenditure (6,270) (128) - (6,398) Other (expenses)/income and JV profit (47,200) (713) (72) (47,985) Finance costs (154,288) - 148,990 (5,298) Finance income 1,345 14,599 (11,209) 4,735 (Loss)/profit before income tax (101,436) 11,593 116,571 26,728 Income tax expense 22,962 - - 22,962 Net (loss)/profit for the year (78,474) 11,593 116,571 49,690 Capital expenditure 208,708 362 - 209,070 Total assets 2,790,160 6,852,741 (6,639,428) 3,003,473 Total liabilities (2,515,598) (3,339,052) 6,077,236 (222,586) Country of operation DRC Jersey $000 Kibali Corporate Intercompany Total Year ended December 31, 2015 Profit and loss Total revenue 747 272 - - 747,272 Mining and processing costs excluding depreciation (358,872) - 669 (358,203) Depreciation and amortization (160,900) (2,055) (29,554) (192,509) Mining and processing costs (519,772) (2,055) (28,885) (550,712) Royalties (30,196) - - (30,196) Exploration and corporate expenditure (4,211) (4,037) - (8,248) Other (expenses)/income and JV profit (2,861) 161 967 (1,733) Finance costs (149,710) - 144,334 (5,376) Finance income 1,245 14,750 (11,177) 4,818 Profit before income tax 41,767 8,819 105,239 155,825 Income tax expense (20,750) - 2,910 (17,840) Net profit for the year 21,017 8,819 108,149 137,985 Capital expenditure 274,952 2,145 - 277,097 Total assets 2,713,792 6,572,090 (6,251,120) 3,034,762 Total liabilities (2,654,254) (3,197,100) 5,607,776 (243,578)

Financial risk management (Tabl

Financial risk management (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of financial risk management [Line Items]
Disclosure of credit risk exposure [text block]	$000 Dec 31, 2017 Dec 31, 2016 Level of exposure of foreign currency risk Carrying value of foreign currency balances Cash and cash equivalents includes balances denominated in: • Communauté Financi?re Africaine franc (CFA) 676 1,289 • Euro (EUR) 2,170 2,222 • South African rand (ZAR) 1,217 166 • British pound (GBP) 702 277 Trade and other receivables includes balances dominated in: • Communauté Financi?re Africaine franc (CFA) 19,165 6,886 • South African rand (ZAR) - 89 • Euro (EUR) 7,546 4,806 • British pound (GBP) 46 2 Trade and other payables includes balances dominated in: • Communauté Financi?re Africaine franc (CFA) (37,067) (4,525) • Euro (EUR) (321) (486) • South African rand (ZAR) (1,296) (868) • British pound (GBP) (742) (898)
Disclosure of effect of changes in foreign exchange rates [text block]	The group’s exposure to foreign currency arises where a company holds monetary assets and liabilities denominated in a currency different to the functional currency of the holder of the instrument which is the US dollar. The following table shows the impact of a 10% change in the US dollar on profit and equity arising as a result of the revaluation of the group’s foreign currency financial instruments. The TVA balance in Kibali is denominated in CDF and while not a financial instrument under IFRS 7, a movement of 10% in the year end rate would have an effect of $ 11.9 Closing exchange Effect of 10% At December 31, 2017 Euro (EUR) 0.8347 940 Communauté Financi?re Africaine franc (CFA) 547.53 (1,723) South African rand (ZAR) 12.36 (8) British pound (GBP) 0.74 1 At December 31, 2016 Euro (EUR) 0.9490 654 Communauté Financi?re Africaine franc (CFA) 623.30 365 South African rand (ZAR) 13.65 (61) British pound (GBP) 0.81 (62)
Disclosure of risk management strategy related to hedge accounting [text block]	Maturity date Amount $000 Effective rate Cash and cash equivalents: All less than 90 days as from December 31, 2017 719,808 0.9029 %
Disclosure Of Detailed Information of Capital Risk Management [text block]	$000 Dec 31, 2017 Dec 31, 2016 Capital risk management Trade and other payables (149,288) (127,377) Less: cash and cash equivalents 719,808 516,301 Net position 570,520 388,924 Total equity 3,992,269 3,751,957 Total capital 3,421,749 3,363,033 Gearing ratio 0% 0%
Disclosure of detailed information of contractual undiscounted cash flows [text block]	As the amounts disclosed in the table are the contractual undiscounted cash flows, these balances will not necessarily correspond with the amounts disclosed in the statement of financial position. $000 Trade and Borrowings Other financial At December 31, 2017 Financial liabilities Within 1 year on demand 134,662 - - Later than 1 year and no later than 5 years - - - After 5 years - - 2,765 Total 134,662 - 2,765 At December 31, 2016 Financial liabilities Within 1 year on demand 106,548 - - Later than 1 year and no later than 5 years - - - After 5 years - - 2,765 Total 106,548 - 2,765
Kibali Jersey Limited [member]
Disclosure of financial risk management [Line Items]
Disclosure detailed information about of external credit grades [text block]	The group is also exposed to fluctuations in the price of consumables, such as fuel, steel, rubber, cyanide and lime, mainly due to changes in the price of oil, as well as fluctuations in exchange rates. $000 Dec 31, Dec 31, Dec 31, Level of exposure of foreign currency risk carrying value of foreign currency balances. Cash and cash equivalents includes balances denominated in: · Congolese Franc (CDF) 28 249 71 · Euro (EUR) 297 17 47 · South African Rand (ZAR) 65 758 17 · British Pound (GBP) 3 55 4 · Australian Dollar (AUD) 402 369 363 Trade and other receivables includes balances denominated in: · Congolese Franc (CDF) 4 5 - · Euro (EUR) - - 306 · South African Rand (ZAR) - - 298 · British Pound (GBP) - - 1 · Australian Dollar (AUD) - - - $000 Dec 31, Dec 31, Dec 31, Trade and other payables includes balances denominated in: · Euro (EUR) (284 ) (825 ) (772 ) · South African Rand (ZAR) (1,003 ) (671 ) (2,567 ) · British Pound (GBP) (2 ) - (3 ) · Australian Dollar (AUD) (87 ) (193 ) (191 )
Disclosure of effect of changes in foreign exchange rates [text block]	The TVA balance is denominated in CDF and while not a financial instrument under IFRS 7 a movement of 10% in the year end rate would have an effect of $12.2 million on the receivable. Closing Effect of 10% strengthening of $000 on At December 31, 2017 · Euro (EUR) 0.83382 (28 ) · South African Rand (ZAR) 12.34503 (100 ) At December 31, 2016 · Euro (EUR) 0.94868 (83 ) · South African Rand (ZAR) 13.71502 (67 ) At December 31, 2015 · Euro (EUR) 0.91525 (47 ) · South African Rand (ZAR) 15.45369 (204 )
Disclosure of risk management strategy related to hedge accounting [text block]	The directors believe that the working capital resources, by way of internal sources and banking facilities, are sufficient to the group’s currently foreseeable future business requirements. Effective Amount rate for $000 the year % Cash and cash equivalents: All less than 90 days 3,288 0.08
Disclosure Of Detailed Information of Capital Risk Management [text block]	$000 Dec 31, Dec 31, Dec 31, Capital risk management Borrowings and trade and other payables (note 16 and 18) 153,439 189,073 178,638 Less: cash and cash equivalents (3,288 ) (18,865 ) (21,373 ) Net borrowings, trade and other payables and cash 150,151 170,208 157,265 Total equity 2,824,838 2,780,887 2,791,184 Total capital 2,974,988 2,915,095 2,948,449 Gearing ratio 5 % 6 % 5 %
Disclosure of detailed information of contractual undiscounted cash flows [text block]	The following table analyzes the group’s financial liabilities into the relevant maturity groupings based on the remaining period from the Statement of Financial Position to the contractual maturity date. Expected Trade and Future other interest payables Borrowings payments At December 31, 2017 Financial liabilities Within 1 year in demand 104,633 7,596 3,345 Later than 1 year and no later than 5 years - 41,210 6,820 After 5 years - - 305 Total 104,633 48,806 10,470 At December 31, 2016 Financial liabilities Within 1 year in demand 131,859 10,285 3,974 Later than 1 year and no later than 5 years - 46,929 8,693 After 5 years - - 878 Total 131,859 57,214 13,545 At December 31, 2015 Financial liabilities Within 1 year in demand 117,083 9,808 2,461 Later than 1 year and no later than 5 years - 39,075 12,430 After 5 years - 12,672 3,805 Total 117,083 61,555 18,696

Fair value of financial instr62

Fair value of financial instruments (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [Member]
Disclosure Of Fair Value Of Financial Instruments [Line Items]
Disclosure of detailed information about financial instruments [text block]	The fair value of a financial instrument is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Carrying $000 amount Fair Value As at December 31, 2017 Categorized as level 1¹ Available-for-sale financial asset Available for sale 26 26 As at December 31, 2016 Categorized as level 1¹ Available-for-sale financial asset Available for sale 58 58 As at December 31, 2015 Categorized as level 1¹ Available-for-sale financial asset Available for sale 45 45 No derivative financial instruments currently exist. ¹Level 1: fair values are derived from quoted market prices for identical assets from an active market for which an entity has immediate access.

NON-CONTROLLING INTEREST (Table

NON-CONTROLLING INTEREST (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of non controlling for interests [text block]	$000 Dec 31, Dec 31, Dec 31, Balance at the beginning of the year 19,777 27,624 25,522 Non-controlling interest in results of Kibali Goldmines SA (12,357) (7,847) 2,102 Balance at the end of the year 7,420 19,777 27,624

LOANS AND BORROWINGS (Tables)

LOANS AND BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of detailed information about borrowings [text block]	$000 Dec 31, Dec 31, Dec 31, Non-current Finance lease liability (refer to note 19) 40,350 46,707 51,530 Loan – Randgold (refer to note 26) 860 222 217 41,210 46,929 51,747 Current Finance lease liability (refer to note 19) 7,596 8,310 8,223 Loan – Randgold (refer to note 26) - 1,975 1,585 7,596 10,285 9,808 Total loans and borrowings 48,806 57,214 61,555

PROVISION FOR REHABILITATION (T

PROVISION FOR REHABILITATION (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure Of Detailed Information About Non Current For Provision [text block]	$000 Dec 31, Dec 31, Dec 31, Balance at the beginning of the year 21,163 15,533 15,341 Unwinding of discount 529 349 384 Change in estimates 1,552 5,281 (192) Balance at the end of the year 23,244 21,163 15,533

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of detailed information about leases [text block]	The lease liability is effectively secured as the rights to the leased asset revert to the lessor in the event of default. $000 Dec 31, Dec 31, Dec 31, Gross finance lease liabilities – minimum lease payments: No later than 1 year 11,042 12,979 12,100 Later than 1 year and no later than 5 years 39,872 42,239 52,968 Later than 5 years 6,694 13,344 13,381 Future finance charges (9,662) (13,545) (18,696) Present value of the finance lease liability 47,946 55,017 59,753 No later than 1 year 7,596 8,310 8,223 Later than 1 year and no later than 5 years 32,618 32,853 38,858 Later than 5 years 7,732 13,854 12,672 47,946 55,017 59,753

CASH FLOW FROM OPERATING ACTI67

CASH FLOW FROM OPERATING ACTIVITIES AND NON-CASH ITEMS (Tables) - Kibali Jersey Limited [member]	12 Months Ended
	Dec. 31, 2017
Schedule of Cash Flow from Operating Activities and Non-Cash Items [text block]	$000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 (Loss)/Profit before income taxation (40,349) 26,728 155,825 Adjustments for: Interest received (Note 6) (4,147) (4,735) (4,818) Finance cost (Note 6) 4,949 4,949 4,992 Share of profits of equity accounted joint venture (113) (129) (268) Depreciation and amortization 264,415 210,925 192,509 Foreign exchange loss 38,469 36,134 - Movement in discounting provision on TVA (Note 3) 12,177 7,820 - Recycling of permanent losses on available-for-sale asset - - 3,144 Unwinding of rehabilitation provision 529 349 384 275,930 282,041 351,768 Effects of changes in operating working capital items - Receivables (69,741) (29,287) (7,122) - Inventories 30,266 5,484 12,565 - Trade and other payables (11,026) 14,712 12,447 Cash generated from operations 225,429 272,950 369,658
Disclosure of reconciliation of liabilities arising from financing activities [text block]	Cash flows relating to loans and borrowings within financing activities comprises the following movements in finance lease liabilities: Non-current Current loans and loans and $000 borrowings borrowings Total At January 1, 2017 46,707 8,310 55,017 Cash flows: Lease repayments - (7,228 ) (7,228 ) Non cash flows: Loans and borrowings classified as non- current at December 31, 2016 (6,357 ) 6,357 - Interest and capital accrued - 157 157 At December 31, 2017 1 40,350 7,596 47,946 1

Commitments and contingent li68

Commitments and contingent liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of commitments and contingent liabilities [Line Items]
Disclosure of detailed information about commitments and contingent liabilities [text block]	$000 Dec 31, 2017 Dec 31, 2016 Capital expenditure contracted for at statement of financial position date but not yet incurred is: Property plant and equipment – subsidiaries 17,262 7,019 Commitments of joint ventures (attributable share) Kibali 8,599 9,655 Morila - 37 RAL 1 16,262 - Total commitments of joint ventures (attributable share) 24,861 9,692 42,123 16,711
Disclosure of detailed information about future aggregate minimum lease payments of operating lease payments [text block]	The lease relates to the oxygen plant at Loulo leased from Maligaz. The duration of the contract is 10 5 1 $000 Dec 31, 2017 Dec 31, 2016 No later than 1 year 2,886 2,486 Later than 1 year and no later than 5 years 11,544 9,944 Later than 5 years 8,658 7,458 23,088 19,888
Kibali Jersey Limited [Member]
Disclosure of commitments and contingent liabilities [Line Items]
Disclosure of detailed information about commitments and contingent liabilities [text block]	Dec 31, Dec 31, Dec 31, Capital expenditure contracted for at statement of financial position date but not yet incurred is: Property, plant and equipment 19,108 21,456 27,385

INVESTMENT IN JOINT VENTURE (Ta

INVESTMENT IN JOINT VENTURE (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of joint ventures [text block]	$000 Dec 31, 2017 Dec 31, 2016 Beginning of year Investments in equity accounted joint ventures 1,414,211 1,427,316 Other investments in joint venture 34,423 45,940 Total investments in joint ventures 1,448,634 1,473,256 Funds invested in equity accounted joint ventures 30,898 - Loans repaid by equity accounted joint ventures (746) (11,927) Share of profits of equity accounted joint ventures 11,950 17,299 Dividends - (30,000) Share of other comprehensive income of joint ventures (17) 6 End of year Investments in equity accounted joint ventures 1,440,610 1,414,211 Other investments in joint ventures 50,109 34,423 Total investments in joint ventures 1,490,719 1,448,634
Kibali Jersey Limited [Member]
Disclosure of joint ventures [text block]	Set out below is the summarized financial information for Kibali (Jersey) Limited which is accounted for using the equity method (amounts stated at 100% before intercompany eliminations). $000 Dec 31, 2017 Dec 31, 2016 Summarized statement of financial position Current Cash and cash equivalents 3,288 18,865 Other current assets (excluding cash) 166,278 179,588 Total current assets 169,566 198,453 Financial liabilities (excluding trade payables) (8,656) (10,285) Other current liabilities (including trade payables) (105,565) (133,113) Total current liabilities (114,221) (143,398) Non-current Assets 2,833,946 2,805,020 Financial liabilities (41,210) (46,929) Other liabilities (23,244) (32,259) Total non-current liabilities (64,454) (79,188) Net assets 2,824,837 2,780,887 $000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Summarized statement of comprehensive income Revenue 754,852 709,372 747,272 Depreciation and amortization (264,415) (210,925) (192,509) Interest income 4,147 4,735 4,818 Interest expense (5,478) (5,298) (5,376) Profit before tax (40,349) 26,728 155,825 Income tax 54,333 22,962 (17,840) Post-tax profit 13,984 49,690 137,985 Other comprehensive income—gain on available for sale financial asset - - 3,144 $000 Dec 31, 2017 Dec 31, 2016 Reconciliation of the group’s summarized financial information presented to the carrying amount of the group’s interest in the Kibali joint venture Opening net assets January 1 2,780,887 2,791,184 Profit for the period 13,984 49,690 (Loss)/gain on available-for-sale financial asset (34) 13 Other comprehensive income (34) 13 Funds advanced 30,000 - Dividends received - (60,000) Closing net assets 2,824,837 2,780,887 Interest in joint venture at 50% 1,412,419 1,390,443 Mineral property at acquisition 23,549 26,154 Adjustment to reflect attributable interest 8,793 1,565 Carrying value 1,444,760 1,418,162
Kibali Jersey Limited [Member] | KAS Limited [Member]
Disclosure of joint ventures [text block]	Set out below is the summarized financial information for KAS which is accounted for using the equity method (amounts stated at 100% before intercompany eliminations). $000 Dec 31, Dec 31, Dec 31, Summarized statement of financial position Current assets Cash and cash equivalents 2,039 1,167 1,222 Other current assets (excluding cash) 1,649 10,061 10,584 Total current assets 3,688 11,228 11,806 Other current liabilities (including trade payables) (1,505) (1,457) (1,653) Total current liabilities (1,505) (1,457) (1,653) Non-current Assets 48,065 46,707 51,718 Financial liabilities (49,739) (56,195) (61,295) Net assets 509 283 576 Summarized statement of comprehensive income Operating (loss)/profit (39) (21) 234 Interest income 3,959 4,489 4,802 Interest expense (3,695) (4,210) (4,500) Profit and total comprehensive income for the period 225 258 536 Dividends received from joint venture - 550 - Reconciliation of the summarized financial information presented to the carrying amount of the group's interest in KAS Opening net assets January 1 284 576 40 Profit for the period 225 258 536 Dividends received - (550) - Closing Net assets 509 284 576 Interest in joint venture at 50.1% 255 142 289 Funding classified as long term debt by joint venture recorded in ‘other investments in joint ventures’ 25,577 28,830 31,086 Carrying value 25,832 28,972 31,375

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Related Party [Abstract]
Disclosure Of Transaction Between Related Parties Explanatory [text block]	$000 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Management fee received from Rockwell Diamonds Inc - 9 37 Net income from Loulo - - - Net income from Tongon - - - Net income from Morila 3,764 3,522 14,259 Net income from Gounkoto - - - Net income from Kibali 13,829 43,106 47,555 Net income from RAL 1 778 2,319 3,049 Net income from RAL 2 2,595 405 335
Disclosure of amounts incurred by entity for provision of key management personnel services provided by separate management entities [text block]	Dec 31, 2017 Dec 31, 2016 Key management remuneration Short term employee benefits 13,009 12,899 Share-based payments 10,831 10,836 Total 23,840 23,735

RELATED PARTIES AND RELATED P71

RELATED PARTIES AND RELATED PARTY TRANSACTIONS (Tables) - Kibali Jersey Limited [Member]	12 Months Ended
	Dec. 31, 2017
Disclosure of transactions between related parties [line items]
Disclosure of detailed information about of transactions between related parties [text block]	Related parties Nature of relationship Randgold Ultimate Joint Venture partner AngloGold Ashanti Ultimate Joint Venture partner AngloGold Ashanti Holdings plc Joint Venture partner Randgold Resources (Kibali) Limited Joint Venture partner Randgold Resources Congo SPRL Entity under common control (subsidiary of Randgold) Société des Mines de Loulo SA Entity under common control (subsidiary of Randgold) Société des Mines de Tongon SA Entity under common control (subsidiary of Randgold) Société des Mines de Gounkoto SA Entity under common control (subsidiary of Randgold) Rand Refinery (Pty) Limited Associate of AngloGold Ashanti SOKIMO Government interest in Kibali KAS Joint Venture Isiro (Jersey) Limited Joint Venture of Randgold KGL Isiro SARL Subsidiary of Isiro (Jersey) Limited
Disclosure of transactions between related parties [text block]	$000 Dec 31, Dec 31, Dec 31, Related party transactions Management fee paid to Randgold 4,385 4,296 4,265 Refining fees to Rand Refinery (Pty) Limited 3,632 3,062 3,564 Interest received from SOKIMO 1,097 1,335 1,232 Shareholders interest received from KAS 1,846 2,105 2,254 Interest incurred to KAS on the finance lease liability 3,753 4,482 4,800 Amounts included in trade and other receivables owing by related parties Rand Refinery (Pty) Limited 30,457 1,497 850 Loan to SOKIMO 18,827 17,381 16,046 Loan to Randgold Resources Congo SPRL 182 45 - Loan to Randgold - 942 - Loan to KGL Isiro SARL 64 1 21 Loan to Société des Mines de Loulo SA 4 - 3 Loan to Société des Mines de Tongon SA 41 76 3 Loan to Société des Mines de Gounkoto SA - 32 32 Amounts included in other investment in joint venture owing by related parties Loan to KAS 25,660 28,830 31,086 Amounts included in loans and borrowings owed to related parties Loan from Randgold (860) (2,197) (1,802) Finance lease liability with KAS (47,946) (55,017) (59,753)

SUBSIDIARIES AND NON-CONTROLL72

SUBSIDIARIES AND NON-CONTROLLING INTERESTS (Tables)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Disclosure of subsidiaries [line items]
Disclosure of interests in subsidiaries [text block]	The consolidated financial statements include the accounts of the Company and all of its subsidiaries and jointly controlled entities at December 31, 2017. The Company, the principal subsidiaries and their interests are: Country of incorporation % of and interest residence Company Kibali (Jersey) Ltd Jersey Subsidiary Border Energy East Africa (Pty) Ltd 100 % Uganda Subsidiary Moto (Jersey) 1 Ltd 100 % Jersey Subsidiary Kibali 2 (Jersey) Ltd 100 % Jersey Subsidiary 0858065 B.C. Limited 100 % Canada Subsidiary Moto Goldmines Australia Pty Ltd 100 % Australia Subsidiary Kibali Goldmines SA 90 % DRC Jointly controlled entity KAS 1 Limited 50.1 % Jersey

Mining and processing costs a73

Mining and processing costs and other disclosable items (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of mining and processing costs and other disclosable items [Abstract]
Disclosure of detailed information about mining and processing costs and other disclosable items [text block]	Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Mine production costs 473,909 461,522 498,779 Movement in production inventory and ore stockpiles (12,095) 13,239 17,109 Depreciation and amortization 182,900 175,343 150,902 Other mining and processing costs 63,125 60,141 60,007 707,839 710,245 726,797

Exploration and corporate exp74

Exploration and corporate expenditure (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about exploration and corporate for expenditure [text block]	$000 Year ended Year ended Year ended Exploration and corporate expenditure comprise: Exploration expenditure 27,705 19,609 17,322 Corporate expenditure 20,080 21,593 27,745 47,785 41,202 45,067
Kibali Jersey Limited [member]
Disclosure of detailed information about exploration and corporate for expenditure [text block]	$000 Dec 31, Dec 31, Dec 31, Exploration and corporate expenditure comprise: Exploration expenditure 2,760 2,748 3,132 Corporate expenditure 5,445 3,650 1,943 Recycling of permanent losses on available-for-sale asset - - 3,173 8,205 6,398 8,248

Finance income and costs (Table

Finance income and costs (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of detailed information about finance income and costs [text block]	Year ended Year ended Year ended Finance income – interest income 5,432 1,553 112 Finance income – net foreign exchange gain on financing activities 586 - - Finance income 6,018 1,553 112 Interest expense – borrowings (1,721) (1,724) (1,147) Finance costs – net foreign exchange loss on financing activities - (399) (1,867) Unwind of discount on provisions for environmental rehabilitation (1,386) (1,070) (1,397) Finance costs (3,107) (3,193) (4,411) Finance income/(costs) – net 2,911 (1,640) (4,299) Interest income arises on cash and cash equivalents. Interest expenses arise on borrowings measured at amortized cost.
Kibali Jersey Limited [member]
Disclosure of detailed information about finance income and costs [text block]	$000 Dec 31, Dec 31, Dec 31, Finance income comprise: Bank interest 20 15 19 Interest received – loans and receivables 4,127 4,720 4,799 Total finance income 4,147 4,735 4,818 Finance costs comprise: Interest expense on finance lease (3,931) (4,482) (4,800) Interest expense on bank borrowings (1,018) (467) (192) Unwinding of discount on provisions for Rehabilitation (529) (349) (384) Total finance costs (5,478) (5,298) (5,376) Net finance costs (1,331) (563) (558)

Nature of operations (Details T

Nature of operations (Details Textual)	12 Months Ended
	Dec. 31, 2017
The Morila gold mine [Member]
Proportion of ownership interest in joint venture	40.00%
Proportion of ownership interests held by non-controlling interests	80.00%
The Morila gold mine [Member] | AngloGold Ashanti Limited [Member]
Proportion of ownership interest in joint venture	40.00%
The Morila gold mine [Member] | The State of Mali [Member]
Proportion of ownership interest in joint venture	20.00%
Kibali gold mine [Member]
Proportion of ownership interest in joint venture	45.00%
Proportion of ownership interests held by non-controlling interests	90.00%
Kibali gold mine [Member] | AngloGold Ashanti Limited [Member]
Proportion of ownership interest in joint venture	45.00%
Kibali gold mine [Member] | SOKIMO [Member]
Proportion of ownership interest in joint venture	10.00%
The Loulo mine [Member]
Proportion of ownership interest in joint venture	80.00%
The Loulo mine [Member] | The State of Mali [Member]
Proportion of ownership interest in joint venture	20.00%
The Tongon mine [Member]
Proportion of ownership interest in joint venture	89.70%
The Tongon mine [Member] | The State of Cote d Ivoire [Member]
Proportion of ownership interest in joint venture	10.00%
The Tongon mine [Member] | Ivorian company [Member]
Proportion of ownership interest in joint venture	0.30%

Significant accounting polici77

Significant accounting policies (Details Textual)	12 Months Ended
	Dec. 31, 2017
Percentage of dividends	10.00%
The Loulo mine [Member]
Proportion of ownership interest in joint venture	80.00%
The Loulo mine [Member] | the State of Mali [Member]
Proportion of ownership interest in joint venture	20.00%
The Loulo mine [Member] | Full grade [Member]
Grams of gold per metric tonne	3
the Gara mine [Member] | Full grade [Member]
Grams of gold per metric tonne	1.58
the Yalea mine [Member] | Full grade [Member]
Grams of gold per metric tonne	0.7
the Gounkoto mine [Member] | the State of Mali [Member]
Proportion of ownership interest in joint venture	20.00%
the Gounkoto mine [Member] | Full grade [Member]
Grams of gold per metric tonne	2.58
the Gounkoto mine [Member] | Marginal [Member]
Grams of gold per metric tonne	1.09
the Tongon mine [Member]
Proportion of ownership interest in joint venture	89.70%
the Tongon mine [Member] | Full grade [Member]
Grams of gold per metric tonne	1.34
the Tongon mine [Member] | Marginal [Member]
Grams of gold per metric tonne	0.79
Kibali gold mine [Member]
Proportion of ownership interest in joint venture	45.00%
Kibali gold mine [Member] | High and medium grade [Member]
Grams of gold per metric tonne	1.53
Kibali gold mine [Member] | High and medium grade [Member] | Kibali Jersey Limited [member]
Grams of gold per metric tonne	1.53
Kibali gold mine [Member] | marginal ore cut-off grade [Member]
Grams of gold per metric tonne	0.99
Kibali gold mine [Member] | marginal ore cut-off grade [Member] | Kibali Jersey Limited [member]
Grams of gold per metric tonne	0.99

Key accounting estimates and 78

Key accounting estimates and judgments (Details) - $ / Ounce-oz	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Gold Price Per Ounces For Probable Reserve Calculation	1,000	1,000	1,000
Kibali Jersey Limited [member]
Gold Price Per Ounces For Probable Reserve Calculation	1,000	1,000	1,000
Societe des Mines de Morila [Member]
Gold Price Per Ounces For Probable Reserve Calculation	1,000	1,000	1,000
Societe des Mines de Loulo SA [Member] | Open Pit Mining Property [Member]
Gold Price Per Ounces For Probable Reserve Calculation	1,000	1,000	1,000
Societe des Mines de Loulo SA [Member] | Underground Mining Property [Member]
Gold Price Per Ounces For Probable Reserve Calculation	1,000	1,000	1,000
Societe des Mines de Tongon SA [Member]
Gold Price Per Ounces For Probable Reserve Calculation	1,000	1,000	1,000
Kibali Goldmines S [Member]
Gold Price Per Ounces For Probable Reserve Calculation	1,000	1,000	1,000
Massawa project [Member]
Gold Price Per Ounces For Probable Reserve Calculation	1,000	1,000	1,000
Societe des Mines de Gounkoto SA [Member]
Gold Price Per Ounces For Probable Reserve Calculation	1,000	1,000	1,000

Key accounting estimates and 79

Key accounting estimates and judgments (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2016USD ($)	Dec. 31, 2016USD ($)bbl$ / Ounce-oz	Dec. 31, 2017USD ($)bbl$ / Ounce-oz	Dec. 31, 2016USD ($)bbl$ / Ounce-oz	Dec. 31, 2015USD ($)bbl$ / Ounce-oz
Current value added tax receivables		$ 89,400		$ 89,400	$ 96,500
Non-current value added tax receivables			$ 55,100		$ 6,400
Payment Of Advance Taxes	$ 25,000
Future Commodity Prices Per Barrel | bbl		60	70	60	60
Gold Price Curve Per Ounce | $ / Ounce-oz		1,200	1,250	1,200	1,150
Annual Increase Percentage in Gold Price Curve		2.00%	2.50%	2.00%	1.50%
Discount rate applied to cash flow projections		8.20%	8.20%	8.20%	7.90%
Growth rate used to extrapolate cash flow projections		0.00%	0.00%	0.00%	1.50%
Gold Price Per Ounces For Probable Reserve Calculation | $ / Ounce-oz		1,000	1,000	1,000	1,000
Discount rate used in current estimate of value in use		2.50%	2.50%	2.50%	2.25%
Increase (decrease) through change in discount rate, other provisions			$ (1,103)	$ 6,804
Percentage of amounts forecasted through offsetting			2
Description of recoverable period by the impact of receipts in next twelve months			Management have assumed a recoverable period of 48 months with a reduced level of receipts in the next 12 months.
Description of increase in provision that impacts discount rate and recovery period			The increase in provision reflects an increase in the discount rate to reflect assessed risk and an extension in the recovery period from 18 months to 48 months.
Increase (decrease) in other provisions			$ 3,600
Deferred Tax Liabilities, Net		$ 42,386	$ 52,781	42,386	$ 0
Description regarding impact of provision as by change in discount rate			A 1% change in the discount rate would increase the provision by $0.5 million (at 45% attributable share).
Decrease of Gold Price before tax losses which are unused | bbl			1,040
Trade and other receivables [Member]
Value added tax receivables			$ 114,400
Kibali joint venture [Member]
Proportion of ownership interest in joint venture			45.00%
Investment in joint ventures [Member]
Proportion of ownership interest in joint venture			40.00%
Morila [Member]
Value added tax receivables		$ 5,000	$ 7,000	5,000	6,300
1% change [Member]
Other comprehensive income, net of tax, change in fair value of financial liability attributable to change in credit risk of liability			$ 600	$ 500	600
Provision for decommissioning, restoration and rehabilitation costs [member]
Discount rate used in current estimate of value in use		2.50%	2.50%	2.50%
Provision for decommissioning, restoration and rehabilitation costs [member] | 1% change [Member]
Increase (decrease) through change in discount rate, other provisions			$ 6,800	$ 5,300	5,300
Mali operations [Member]
Value added tax receivables			200,500
Societe des Mines de Loulo SA [Member]
Income taxes paid (refund), classified as financing activities		$ 29,200
Value Added Tax [Member]
Value added tax receivables		64,900	70,200	64,900	61,800
Allowance account for credit losses of financial assets		7,800	$ 8,100	7,800	0
Discount rate applied to cash flow projections			10.00%
Discounting provision			$ 2,500	1,400	2,900
Kibali Goldmines SA [Member]
Value added tax receivables		64,900	$ 70,200	64,900
Discount rate applied to cash flow projections			18.70%
Growth rate used to extrapolate cash flow projections			20.40%
Kibali Jersey Limited [member]
Value added tax receivables		$ 131,214	$ 134,514	$ 131,214	$ 137,369
Proportion of ownership interest in joint venture			50.00%
Future Commodity Prices Per Barrel | bbl		60	70	60	60
Gold Price Curve Per Ounce | $ / Ounce-oz		1,200	1,250	1,200	1,150
Annual Increase Percentage in Gold Price Curve		2.00%	2.50%	2.00%	1.50%
Discount rate applied to cash flow projections		7.80%	8.20%	7.80%	7.90%
Growth rate used to extrapolate cash flow projections		6.00%	5.00%	6.00%	5.00%
Explanation of main events and circumstances that led to recognition of impairment losses and reversals of impairment losses			A reduction in forward gold prices in excess of 17.0% or an increase in the discount rate to 18.7% is required to give rise to impairment
Gold Price Per Ounces For Probable Reserve Calculation | $ / Ounce-oz		1,000	1,000	1,000	1,000
Discount rate used in current estimate of value in use		2.50%	2.50%	2.50%	2.25%
Increase (decrease) through change in discount rate, other provisions			$ 1,552	$ 5,281	$ (192)
Percentage of amounts forecasted through offsetting			2
Description of recoverable period by the impact of receipts in next twelve months			Management have assumed a recoverable period of 48 months with a reduced level of receipts in the next 12 months.
Description of increase in provision that impacts discount rate and recovery period			The increase in provision reflects an increase in the discount rate to reflect assessed risk and an extension in the recovery period from 18 months to 48 months.
Change in discount rate			1.00%
Increase (decrease) in other provisions			$ 7,800
Stripping costs capitalised			19,200	15,200	0
Stripping assets book value		$ 9,600	12,300	9,600
Deferred tax assets		0	43,237	0	0
Deferred Tax Liabilities, Net		$ 11,096	$ 0	11,096	41,926
Kibali Jersey Limited [member] | Mine plan [Member]
Useful lives or amortisation rates, intangible assets other than goodwill			3 years
Kibali Jersey Limited [member] | 1% change [Member]
Other comprehensive income, net of tax, change in fair value of financial liability attributable to change in credit risk of liability			$ 200	$ 200	$ 50
Kibali Jersey Limited [member] | Provision for decommissioning, restoration and rehabilitation costs [member]
Discount rate used in current estimate of value in use		2.50%	2.50%	2.50%	2.25%
Kibali Jersey Limited [member] | Provision for decommissioning, restoration and rehabilitation costs [member] | 1% change [Member]
Increase (decrease) through change in discount rate, other provisions			$ 3,200	$ 3,200	$ 1,800
Kibali Jersey Limited [member] | Value Added Tax [Member]
Proportion of ownership interest in joint venture			45.00%
Allowance account for credit losses of financial assets		$ 7,800	$ 17,900	$ 7,800	$ 0

OTHER INCOME AND EXPENSES (Deta

OTHER INCOME AND EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Income from operating activities comprise:
Other income	$ 0
Other income	14,928	$ 5,960	$ 15,616
Other Expenses:
Other expenses, by nature	7,865	5,967	5,725
Kibali Jersey Limited [member]
Other Income from operating activities comprise:
Other income	146	136	0
Net foreign exchange gains	0	0	1,657
Other income	146	136	1,657
Other Expenses:
Management Fee	4,385	4,296	3,658
Net foreign exchange loss	38,469	36,134	0
Discounting provision	12,177	7,820	0
Other expenses, by nature	$ 55,031	$ 48,250	$ 3,658

MINING AND PROCESSING COSTS (De

MINING AND PROCESSING COSTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Mining and processing costs comprise:
Depreciation and amortization	$ 0
Mining and processing costs	0
Kibali Jersey Limited [member]
Mining and processing costs comprise:
Mine production costs	232,209	$ 202,323	$ 177,467
Movement in production inventory and ore stockpiles	28,933	(7,389)	8,234
Depreciation and amortization	264,415	210,925	192,509
Other mining and processing costs	173,423	188,863	172,502
Mining and processing costs	$ 698,980	$ 594,722	$ 550,712

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of income tax [Line Items]
Current taxation	$ 135,412	$ 101,546	$ 41,972
Deferred taxation	10,395	6,838	6,031
Tax expense (income), continuing operations	145,807	108,384	48,003
The tax on the group’s profit before tax differs from the theoretical amount that would arise using the statutory tax rate applicable to the group’s operations.
(Loss)/profit before tax	480,854	402,605	260,778
Tax calculated at the DRC effective tax rate of 30%	144,256	120,782	78,233
Difference in tax rates in overseas jurisdictions	(4,771)	(3,513)	0
Reconciling items:
• Income taxed at 0%	(17,499)	(17,002)	(8,483)
• Expenses deductible at 0%	12,864	10,947	7,528
Withholding tax adjustment on Tongon dividend	10,908	2,272	0
Côte d’Ivoire tax holiday permanent differences	0	0	(7,868)
Share of equity accounted joint venture profits	(3,585)	(5,190)	(23,191)
Other permanent differences	3,634	88	1,784
Taxation (credit) / charges	145,807	108,384	48,003
Kibali Jersey Limited [member]
Disclosure of income tax [Line Items]
Current taxation	0	7,868	8,377
Deferred taxation	(54,333)	(30,830)	9,463
Tax expense (income), continuing operations	(54,333)	(22,962)	17,840
The tax on the group’s profit before tax differs from the theoretical amount that would arise using the statutory tax rate applicable to the group’s operations.
(Loss)/profit before tax	(40,349)	26,728	155,825
Tax calculated at the DRC effective tax rate of 30%	(12,105)	8,018	46,748
Reconciling items:
• Income taxed at 0%	(40,948)	(38,922)	(34,218)
Withholding tax adjustment on Tongon dividend	0	7,868	8,377
Net capital allowances not deductible	0	0	(157)
Other permanent differences	(1,280)	74	(2,910)
Taxation (credit) / charges	$ (54,333)	$ (22,962)	$ 17,840

Income taxes (Details Textual)

Income taxes (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of income tax [Line Items]
Income Tax Holiday, AggregateTax Benefit Amount	$ 0	$ 0	$ 7,900
Income Tax Holiday, Expected Reduction In Earnings Per Share	$ 0	$ 0	$ 0.09
Income tax relating to Share of profit loss from continuing operations of associates and joint ventures accounted for using equity method	$ 3,585	$ 5,190	$ 23,191
Tax expense (income) at applicable tax rate	144,256	120,782	78,233
Deferred tax liability (asset)	52,781	42,386	35,548
Income taxes paid (refund)	200,500	122,700
Morila and Kibali [Member]
Disclosure of income tax [Line Items]
Income tax relating to Share of profit loss from continuing operations of associates and joint ventures accounted for using equity method	23,100	9,700	11,000
Kibali Jersey Limited [member]
Disclosure of income tax [Line Items]
Tax expense (income) at applicable tax rate	(12,105)	8,018	46,748
Deferred tax liability (asset)	43,237	(11,096)	(41,926)	$ (32,463)
Income taxes paid (refund)	13,300
Kibali Jersey Limited [member] | Unused tax losses [member]
Disclosure of income tax [Line Items]
Deferred tax liability (asset)	$ 520,500	$ 359,400	293,000
Societe des Mines de Gounkoto SA [Member]
Disclosure of income tax [Line Items]
Applicable tax rate		25.00%
Jersey [Member]
Disclosure of income tax [Line Items]
Applicable tax rate	0.00%
Jersey [Member] | Kibali Jersey Limited [member]
Disclosure of income tax [Line Items]
Applicable tax rate	0.00%
Malian operations [Member]
Disclosure of income tax [Line Items]
Applicable tax rate	30.00%
Applicable Tax Rate On Gross Revenue	0.75%
Ivorian operations [Member]
Disclosure of income tax [Line Items]
Applicable tax rate	25.00%
Applicable Tax Rate On Gross Revenue	0.50%
Democratic Republic of Congo [Member] | Kibali Jersey Limited [member]
Disclosure of income tax [Line Items]
Applicable tax rate	30.00%
Tax expense (income) at applicable tax rate	$ 0	$ 7,900	$ 8,400
Description of Minimum Corporate Tax Required To Pay	1/100	1/100	1/100

Share capital and premium (Deta

Share capital and premium (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Balance (in shares)	93,232,920	92,674,085
Balance (in shares)	93,803,752	93,232,920
Kibali Jersey Limited [member] | Issued capital [member]
Balance (in shares)	5,000	5,000
Shares issued	0	0
Balance (in shares)	5,000	5,000

Share capital and premium (De85

Share capital and premium (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of shares authorised	120,000,000	120,000,000	120,000,000
Par value per share	$ 0.05	$ 0.05	$ 0.05
Number of shares issued	94,124,872	93,803,752	93,232,920
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share	$ 2
Increase decrease in dividend by rate, prior year comparision	100.00%
Number of shares outstanding	94,124,872	93,803,752	93,232,920	92,674,085
Dividends recognised as distributions to owners per share	$ 1
Kibali Jersey Limited [member]
Number of shares authorised	10,000	10,000	10,000
Number of shares issued	4,648	4,620	4,620
Value of shares authorised	$ 10,000	$ 10,000	$ 10,000
Number of shares outstanding	4,648
Value of shares issued	$ 15,000,000
Total value of shares issued	$ 30,000,000
Share price per share	$ 1,071,428.57
Number Of Shares Purchased	14

Earnings and dividends per sh86

Earnings and dividends per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Basic earnings per share
Income available to shareholders, Income	$ 278,017	$ 247,474	$ 188,677
Shares outstanding, Shares	94,124,872	93,803,752	93,232,920	92,674,085
Weighted number of shares issued, Shares	251,010	411,190	419,607
Income available to shareholders, Shares	94,055,000	93,644,000	93,094,000
Income available to shareholders, Per share amount	$ 2.96	$ 2.64	$ 2.03
Effective of dilutive securities
Diluted earnings per share, Income	$ 278,017	$ 247,474	$ 188,677
Share options,Shares	5,257	38,833	77,227
Restricted shares,Shares	1,074,144	1,110,899	922,884
Diluted earnings per share,Shares	95,134,163	94,793,842	94,093,803
Diluted earnings per share	$ 2.92	$ 2.61	$ 2.01

Earnings and dividends per sh87

Earnings and dividends per share (Details Textual) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Earnings Per Share [Line Items]
Dividends paid	$ 94
Dividends paid, ordinary shares per share	$ 1	$ 0.66	$ 0.60
Dividends paid, classified as financing activities		$ 61.7	$ 55.7
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share	$ 2
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners	$ 188.2
Dilutive effect of share options on number of ordinary shares	5,257	38,833	77,227
Restricted stock [Member]
Disclosure Of Earnings Per Share [Line Items]
Dilutive effect of share options on number of ordinary shares	298,238	377,387	470,212
Potentially Issuable Shares [Member]
Disclosure Of Earnings Per Share [Line Items]
Dilutive effect of share options on number of ordinary shares	1,506,422	1,655,138	1,766,813

Trade and other receivables (De

Trade and other receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Trade receivables	$ 17,998	$ 34,099
Advances to contractors	2,638	7,861
Taxation debtors	142,090	112,684
Prepayments and other receivables	68,999	67,712
Gounkoto advance dividend	7,602	9,074
Total	239,327	231,430
Less: Non-current portion
Current portion	(184,275)	(231,430)
Non-current portion	55,052	0
Kibali Jersey Limited [member]
Trade receivables	28,295	1,497	$ 850
Advances to contractors	2,280	6,070	5,238
Prepayments and other receivables	21,544	24,239	37,501
Loan to SOKIMO (refer note 26)	18,827	17,381	16,046
Other loans	8,360	3,081	5,231
TVA receivables	134,514	131,214	137,369
Hire purchase loans	4,465	10,978	11,277
Total	218,285	194,460	213,512
Less: Non-current portion
Loan to SOKIMO (refer note 26)	18,827	17,381	16,046
Other loans and receivables (including TVA receivables)	105,768	65,616	10,445
Hire purchase loans	699	4,438	6,297
Current portion	(92,991)	(107,025)	(180,724)
Non-current portion	$ 125,294	$ 87,435	$ 32,788

Trade and other receivables (89

Trade and other receivables (Details 1) - Kibali Jersey Limited [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Gross hire purchase loans - minimum lease payments:
Gross investment on Hire purchase loans	$ 4,465	$ 10,978	$ 11,277
Not later than one year [member]
Gross hire purchase loans - minimum lease payments:
Gross investment on Hire purchase loans	3,766	6,540	4,980
Later than one year and not later than five years [member]
Gross hire purchase loans - minimum lease payments:
Gross investment on Hire purchase loans	699	4,438	6,297
Later than five years [member]
Gross hire purchase loans - minimum lease payments:
Gross investment on Hire purchase loans	$ 0	$ 0	$ 0

Trade and other receivables (90

Trade and other receivables (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Trade And Other Receivables [Line Items]
Receivables from taxes other than income tax	$ 142,090,000	$ 112,684,000
Increase (decrease) through change in discount rate, other provisions	(1,103,000)	6,804,000
Kibali Jersey Limited [member]
Disclosure Of Trade And Other Receivables [Line Items]
Value added tax receivables	134,514,000	131,214,000	$ 137,369,000
Increase (decrease) through change in discount rate, other provisions	$ 1,552,000	5,281,000	(192,000)
Loan receivables,interest rate	8.00%
Hire purchase loan receivables,interest rate	10.00%
Federal Reserve Rate	0.75%
Hire purchase loan,maturity term	3 years
Receivables due from related parties	$ 900,000	1,100,000	$ 0
Loulo gold mine [Member]
Disclosure Of Trade And Other Receivables [Line Items]
Value added tax receivables	91,900,000	61,600,000
Receivables from taxes other than income tax	21,000,000	18,500,000
Gounkoto gold mine [Member]
Disclosure Of Trade And Other Receivables [Line Items]
Value added tax receivables	21,900,000	26,200,000
Receivables from taxes other than income tax	$ 7,300,000	$ 6,400,000

Inventories and ore stockpile91

Inventories and ore stockpiles (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Consumables stores	$ 100,992	$ 100,530
Ore stockpiles	162,468	172,541
Gold in process	12,871	10,662
Total inventories and ore stockpiles	276,331	283,733
Less: current portion	(116,797)	(119,027)
Non-current portion	159,534	164,706
Less: Non-current portion
Long term ore stockpiles	159,534	164,706
Kibali Jersey Limited [member]
Gold on hand	8,970	16,041	$ 5,385
Consumables stores	43,728	43,363	39,782
Ore stockpiles	29,869	52,332	70,874
Gold in process	3,443	4,540	5,719
Total inventories and ore stockpiles	86,010	116,276	121,760
Less: current portion	(73,231)	(72,505)	(78,598)
Less: Non-current portion
Long term ore stockpiles	$ 12,779	$ 43,771	$ 43,162

Property, plant and equipment92

Property, plant and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	$ 1,560,860	$ 1,535,400
Balance at the end of the year	1,577,284	1,560,860	$ 1,535,400
Kibali Jersey Limited [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	2,068,306	2,012,303
Balance at the end of the year	2,107,718	2,068,306	2,012,303
Mining assets [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	1,560,860
Balance at the end of the year	1,577,284	1,560,860
Mining assets [member] | Kibali Jersey Limited [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	2,068,306	2,012,303
Balance at the end of the year	2,107,718	2,068,306	2,012,303
Mining assets [member] | Gross carrying amount [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	2,462,421	2,272,985
Additions	199,324	189,436
Balance at the end of the year	2,661,745	2,462,421	2,272,985
Mining assets [member] | Gross carrying amount [member] | Kibali Jersey Limited [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	2,475,924	2,266,854	1,989,757
Additions	246,406	209,070	277,097
Balance at the end of the year	2,722,330	2,475,924	2,266,854
Mining assets [member] | Accumulated depreciation and amortisation [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	901,561	726,218
Depreciation charged for the year	182,900	175,343
Balance at the end of the year	1,084,461	901,561	726,218
Mining assets [member] | Accumulated depreciation and amortisation [member] | Kibali Jersey Limited [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	(407,617)	(254,551)	(121,620)
Depreciation charged for the year	(206,995)	(153,067)	(132,931)
Balance at the end of the year	$ (614,612)	$ (407,617)	$ (254,551)

Property, plant and equipment93

Property, plant and equipment (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about property, plant and equipment [line items]
Finance Lease Mining Assets	$ 1,577,284	$ 1,560,860	$ 1,535,400
Kibali Jersey Limited [member]
Disclosure of detailed information about property, plant and equipment [line items]
Finance Lease Mining Assets	2,107,718	2,068,306	2,012,303
Kibali Jersey Limited [member] | Assets under Finance Lease [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Finance Lease Mining Assets	$ 16,627	$ 46,153	$ 53,908
Loulo gold mine [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	15 years	12 years
Gounkoto gold mine [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	10 years	10 years
Tongon gold mine [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives or depreciation rates, property, plant and equipment	4 years	4 years

Property, plant and equipment94

Property, plant and equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 1,577,284	$ 1,560,860	$ 1,535,400
Kibali Jersey Limited [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 2,107,718	2,068,306	2,012,303
Proportion of ownership interest in joint venture	50.00%
KAS Limited [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Proportion of ownership interest in joint venture	50.10%
Mining property [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 1,462,900	1,553,500	1,535,400
Mining property [member] | Kibali Jersey Limited [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	2,023,000	1,997,000	1,939,600
Motor vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	95,400	6,000	7,700
Undeveloped property [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	1,200	1,400	1,700
Capitalized expenditure [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	17,800		2,000
Construction in Progress [Member] | Kibali Jersey Limited [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	229,900	507,000	454,300
Short-lived assets [Member] | Kibali Jersey Limited [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	51,600	7,900	5,800
Rehabilitation asset [Member] | Kibali Jersey Limited [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	$ 17,200	$ 17,100	$ 13,000

MINERAL PROPERTIES (Details)

MINERAL PROPERTIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	$ 1,560,860	$ 1,535,400
Balance at the end of the year	1,577,284	1,560,860	$ 1,535,400
Mining property [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	1,553,500	1,535,400
Balance at the end of the year	1,462,900	1,553,500	1,535,400
Kibali Jersey Limited [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	2,068,306	2,012,303
Balance at the end of the year	2,107,718	2,068,306	2,012,303
Net book value	519,117	576,536	634,394
Kibali Jersey Limited [member] | Mining property [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	1,997,000	1,939,600
Balance at the end of the year	2,023,000	1,997,000	1,939,600
Kibali Jersey Limited [member] | Mining property [member] | Gross carrying amount [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	745,092	745,092
Balance at the end of the year	745,092	745,092	745,092
Kibali Jersey Limited [member] | Mining property [member] | Accumulated depreciation and amortisation [member]
Reconciliation of changes in property, plant and equipment [abstract]
Balance at the beginning of the year	(168,556)	(110,698)	(51,120)
Charge for the year	(57,419)	(57,858)	(59,578)
Balance at the end of the year	$ (225,975)	$ (168,556)	$ (110,698)

Investments and loans in subs96

Investments and loans in subsidiaries and joint ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Investments And Loans In Subsidiaries And Joint Ventures [Abstract]
Investments in equity accounted joint ventures (Beginning of year)	$ 1,414,211	$ 1,427,316
Other investments in joint venture (Beginning of year)	34,423	45,940
Total investments in joint ventures (Beginning of year)	1,448,634	1,473,256
Funds invested in equity accounted joint ventures	30,898	0
Loans repaid by equity accounted joint ventures	(746)	(11,927)
Share of profits of equity accounted joint ventures	11,950	17,299	$ 77,303
Dividends	0	(30,000)
Share of other comprehensive income of joint ventures	(17)	6
Investments in equity accounted joint ventures (End of year)	1,440,610	1,414,211	1,427,316
Other investments in joint ventures (End of year)	50,109	34,423	45,940
Total investments in joint ventures (End of year)	$ 1,490,719	$ 1,448,634	$ 1,473,256

Investments and loans in subs97

Investments and loans in subsidiaries and joint ventures (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016		Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current
Cash and cash equivalents					$ 719,808	$ 516,301	$ 213,372	$ 82,752
Total current assets					1,020,880	866,758
Other current liabilities (including trade payables)					149,288	127,377
Total current liabilities					199,916	188,395
Non-current
Assets					(3,282,589)	(3,174,200)
Financial liabilities					2,765	2,765
Total non-current liabilities					111,284	100,606
Net assets	$ (4,933)	$ (4,933)		$ 12,866	(5,172)	(4,933)	12,866
Revenue	1,280,217	1,200,777		1,001,420
Depreciation and amortization	0
Interest income	6,018	1,553		112
Interest expense	3,107	3,193		4,411
Profit before income tax	480,854	402,605		260,778
Income tax	145,807	108,384		48,003
Post-tax profit	335,047	294,221		212,775
Other comprehensive income - gain on available for sale financial asset		1,600	[1]	(561)
Opening net assets January 1	(4,933)	12,866
Gain/(loss) on available-for-sale financial asset	0	1,600		(561)
Other comprehensive income	(17)	1,606		1,011
Closing net assets	(5,172)	(4,933)		12,866
Interest in joint venture at 50%					(2,069)	(1,973)
Carrying value					1,490,719	1,448,634	1,473,256
Profit for the period	335,047	294,221		212,775
Kibali Jersey Limited [member]
Current
Cash and cash equivalents					3,288	18,865	21,373
Total current assets					169,536	198,453	280,740
Other current liabilities (including trade payables)					104,633	131,859	117,083
Total current liabilities					114,221	143,398	134,372
Non-current
Assets					(2,833,977)	(2,805,020)	(2,754,022)
Financial liabilities					41,210	46,929	51,747
Total non-current liabilities					64,454	79,188	109,206
Depreciation and amortization	264,415	210,925		192,509
Interest income	4,147	4,735		4,818
Interest expense	5,478	5,298		5,376
Profit before income tax	(40,349)	26,728		155,825
Income tax	(54,333)	(22,962)		17,840
Post-tax profit	13,984	49,690		137,985
Other comprehensive income - gain on available for sale financial asset	(33)	13		(29)
Gain/(loss) on available-for-sale financial asset	(33)	13		(29)
Other comprehensive income	(33)	13		3,144
Carrying value					25,832	28,972	31,375
Profit for the period	13,984	49,690		137,985
Kibali Jersey Limited [member] | Joint ventures [member]
Current
Cash and cash equivalents					3,288	18,865
Other current assets (excluding cash)					166,278	179,588
Total current assets					169,566	198,453
Financial liabilities (excluding trade payables)					(8,656)	(10,285)
Other current liabilities (including trade payables)					(105,565)	(133,113)
Total current liabilities					(114,221)	(143,398)
Non-current
Assets					2,833,946	2,805,020
Financial liabilities					(41,210)	(46,929)
Other liabilities					(23,244)	(32,259)
Total non-current liabilities					(64,454)	(79,188)
Net assets	2,824,837	2,780,887		2,791,184	2,824,837	2,780,887	$ 2,791,184
Revenue	754,852	709,372		747,272
Depreciation and amortization	(264,415)	(210,925)		(192,509)
Interest income	4,147	4,735		4,818
Interest expense	(5,478)	(5,298)		(5,376)
Profit before income tax	(40,349)	26,728		155,825
Income tax	54,333	22,962		(17,840)
Post-tax profit	13,984	49,690		137,985
Other comprehensive income - gain on available for sale financial asset	0	0		3,144
Opening net assets January 1	2,780,887	2,791,184
Gain/(loss) on available-for-sale financial asset	(34)	13
Other comprehensive income	(34)	13
Dividends received	0	(60,000)
Closing net assets	2,824,837	2,780,887		2,791,184
Interest in joint venture at 50%					1,412,419	1,390,443
Mineral property at acquisition	23,549	26,154
Adjustment to reflect attributable interest					8,793	1,565
Carrying value					$ 1,444,760	$ 1,418,162
Profit for the period	13,984	49,690		$ 137,985
Funds advanced	$ 30,000	$ 0
[1]	Other reserves include the cumulative charge recognized under IFRS 2 in respect of share option schemes (net of amounts transferred to share capital and share premium) as well as the foreign currency translation reserve and the movements in available-for-sale financial assets.

Investments and loans in subs98

Investments and loans in subsidiaries and joint ventures (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current
Cash and cash equivalents				$ 719,808	$ 516,301	$ 213,372	$ 82,752
Total current assets				1,020,880	866,758
Other current liabilities (including trade payables)				149,288	127,377
Total current liabilities				199,916	188,395
Non-current
Assets				3,282,589	3,174,200
Total non-current liabilities				111,284	100,606
Net (liabilities)/assets	$ (4,933)	$ (4,933)	$ 12,866	(5,172)	(4,933)	12,866
Revenue	1,280,217	1,200,777	1,001,420
Depreciation and amortization	0
Interest income	6,018	1,553	112
Interest expense	3,107	3,193	4,411
Profit before income tax	480,854	402,605	260,778
Income tax	145,807	108,384	48,003
(Loss)/profit for the period	335,047	294,221	212,775
Total comprehensive (expense)/income	335,030	295,827	213,786
Opening net assets January 1	(4,933)	12,866
Closing net assets	(5,172)	(4,933)	12,866
Interest in joint venture at 40%				(2,069)	(1,973)
Carrying value				1,490,719	1,448,634	$ 1,473,256
Societe des Mines de Morila SA [member]
Current
Cash and cash equivalents				86	8,569
Other current assets (excluding cash)				54,126	49,804
Total current assets				54,212	58,373
Other current liabilities (including trade payables)				(20,787)	(53,484)
Total current liabilities				(20,787)	(53,484)
Non-current
Assets				14,851	15,493
Other liabilities				(41,562)	(25,315)
Total non-current liabilities				(41,562)	(25,315)
Net (liabilities)/assets	(5,172)	(4,933)		$ (5,172)	$ (4,933)
Revenue	86,073	65,086	142,992
Depreciation and amortization	(16,480)	(9,464)	(23,337)
Interest income	18	14	2
Interest expense	(1,080)	(806)	(999)
Profit before income tax	(239)	(16,256)	24,856
Income tax	0	(1,543)	(7,455)
(Loss)/profit for the period	(239)	(17,799)	17,401
Other comprehensive income	0	0	0
Total comprehensive (expense)/income	(239)	(17,799)	17,401
Dividends received	0	0	$ 25,680
Opening net assets January 1	(4,933)
Closing net assets	$ (5,172)	$ (4,933)

Investments and loans in subs99

Investments and loans in subsidiaries and joint ventures (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016		Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current
Cash and cash equivalents					$ 719,808	$ 516,301	$ 213,372	$ 82,752
Total current assets					1,020,880	866,758
Other current liabilities (including trade payables)					149,288	127,377
Total current liabilities					(199,916)	(188,395)
Non-current
Assets					3,282,589	3,174,200
Total non-current liabilities					(111,284)	(100,606)
Net assets	$ (4,933)	$ (4,933)		$ 12,866	(5,172)	(4,933)	12,866
Revenue	1,280,217	1,200,777		1,001,420
Depreciation and amortization	0
Interest income	6,018	1,553		112
Finance costs	3,107	3,193		4,411
Profit before tax	480,854	402,605		260,778
Income tax expense	145,807	108,384		48,003
Post-tax profit	335,047	294,221		212,775
Other comprehensive income		1,600	[1]	(561)
Total comprehensive income	335,030	295,827		213,786
Opening net assets January 1	(4,933)	12,866
Profit for the period	335,047	294,221		212,775
Closing net assets	(5,172)	(4,933)		12,866
Interest in joint venture at 50.1%					(2,069)	(1,973)
Funding classified as long term debt by joint venture in 'other investments in joint ventures'					50,109	34,423	45,940
Carrying value					1,490,719	1,448,634	1,473,256
RAL 1 Limited [Member]
Current
Cash and cash equivalents					8,820	649
Other current assets (excluding cash)					805	632
Total current assets					9,625	1,281
Other current liabilities (including trade payables)					(19,237)	(6,318)
Total current liabilities					(19,237)	(6,318)
Non-current
Assets					32,474	9,417
Financial liabilities					(21,351)	(3,517)
Total non-current liabilities					(21,351)	(3,517)
Net assets	1,511	863		487	1,511	863	487	$ 286
Revenue	5,186	5,133		1,463
Depreciation and amortization	(3,647)	(4,211)		(779)
Interest income	554	544		1
Finance costs	(1,018)	(650)		(354)
Profit before tax	648	376		201
Income tax expense	0	0		0
Post-tax profit	648	376		201
Other comprehensive income	0	0		0
Total comprehensive income	648	376		201
Opening net assets January 1	863	487		286
Profit for the period	648	376		201
Closing net assets	$ 1,511	$ 863		$ 487
Interest in joint venture at 50.1%					757	432	244
Funding classified as long term debt by joint venture in 'other investments in joint ventures'					21,970	2,335	4,146
Carrying value					$ 22,727	$ 2,767	$ 4,390
[1]	Other reserves include the cumulative charge recognized under IFRS 2 in respect of share option schemes (net of amounts transferred to share capital and share premium) as well as the foreign currency translation reserve and the movements in available-for-sale financial assets.

Investments and loans in sub100

Investments and loans in subsidiaries and joint ventures (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016		Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current
Cash and cash equivalents					$ 719,808	$ 516,301	$ 213,372	$ 82,752
Total current assets					1,020,880	866,758
Other current liabilities (including trade payables)					149,288	127,377
Total current liabilities					199,916	188,395
Non-current
Assets					3,282,589	3,174,200
Total non-current liabilities					111,284	100,606
Net assets	$ (4,933)	$ (4,933)		$ 12,866	(5,172)	(4,933)	12,866
Revenue	1,280,217	1,200,777		1,001,420
Depreciation and amortization	0
Interest expense	3,107	3,193		4,411
Profit before income tax	480,854	402,605		260,778
Income tax expense	145,807	108,384		48,003
Post-tax profit	335,047	294,221		212,775
Other comprehensive income		1,600	[1]	(561)
Total comprehensive income	335,030	295,827		213,786
Opening net assets January 1	(4,933)	12,866
Profit for the period	335,047	294,221		212,775
Closing net assets	(5,172)	(4,933)		12,866
Interest in joint venture at 50.1%					(2,069)	(1,973)
Funding classified as long term debt by joint venture in 'other investments in joint ventures'					50,109	34,423	45,940
Carrying value					1,490,719	1,448,634	1,473,256
RAL 2 Limited [Member]
Current
Cash and cash equivalents					1,692	1,122
Other current assets (excluding cash)					5,790	1,922
Total current assets					7,482	3,044
Other current liabilities (including trade payables)					(19,911)	(24,706)
Total current liabilities					(19,911)	(24,706)
Non-current
Assets					32,583	46,978
Financial liabilities					(18,737)	(24,262)
Total non-current liabilities					(17,737)	(24,262)
Net assets	1,417	1,054			1,417	1,054
Revenue	18,679	22,179		23,840
Depreciation and amortization	(14,395)	(16,638)		(17,290)
Interest expense	(2,080)	(2,237)		(3,718)
Profit before income tax	363	442		455
Income tax expense	0	0		0
Post-tax profit	363	442		455
Other comprehensive income	0	0		0
Total comprehensive income	363	442		455
Opening net assets January 1	1,054
Profit for the period	363	442		$ 455
Closing net assets	$ 1,417	$ 1,054
Interest in joint venture at 50.1%					710	528	307
Funding classified as long term debt by joint venture in 'other investments in joint ventures'					26,644	31,128	41,243
Carrying value					$ 27,354	$ 31,656	$ 41,550
[1]	Other reserves include the cumulative charge recognized under IFRS 2 in respect of share option schemes (net of amounts transferred to share capital and share premium) as well as the foreign currency translation reserve and the movements in available-for-sale financial assets.

Investments and loans in sub101

Investments and loans in subsidiaries and joint ventures (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Investments And Loans In Subsidiaries And Joint Ventures [Line Items]
Expense arising from exploration for and evaluation of mineral resources	$ 47,785	$ 41,202	$ 45,067
Kibali Goldmines SA [Member]
Disclosure Of Investments And Loans In Subsidiaries And Joint Ventures [Line Items]
Proportion of ownership interest in subsidiary	90.00%
Expense arising from exploration for and evaluation of mineral resources	$ 75	300
Kibali gold mine [Member]
Disclosure Of Investments And Loans In Subsidiaries And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	45.00%
Kibali Jersey Limited [member]
Disclosure Of Investments And Loans In Subsidiaries And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	50.00%
Expense arising from exploration for and evaluation of mineral resources	$ 8,205	6,398	$ 8,248
RAL 1 Limited [Member]
Disclosure Of Investments And Loans In Subsidiaries And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	50.10%
Kilo Goldmines Ltd [Member]
Disclosure Of Investments And Loans In Subsidiaries And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	51.00%
Expense arising from exploration for and evaluation of mineral resources	$ 100	$ 600
KAS 1 Limited [Member]
Disclosure Of Investments And Loans In Subsidiaries And Joint Ventures [Line Items]
Proportion of ownership interest in joint venture	25.01%

Deferred taxation (Details)

Deferred taxation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
The movement on deferred taxation is as follows:
At the beginning of the year	$ 42,386	$ 35,548
Statement of comprehensive income charge	10,395	6,838
At the end of the year	52,781	42,386	$ 35,548
Deferred taxation assets and liabilities comprise the following:
Accelerated tax depreciation				$ 52,181	$ 41,786
Deferred stripping				600	600
Deferred taxation liability				52,781	42,386	$ 0
Net deferred tax liability	42,386	42,386	35,548	52,781	42,386	35,548
Kibali Jersey Limited [member]
The movement on deferred taxation is as follows:
At the beginning of the year	(11,096)	(41,926)	(32,463)
Statement of comprehensive income charge	54,333	30,830	(9,463)
At the end of the year	43,237	(11,096)	(41,926)
Deferred taxation assets and liabilities comprise the following:
Deferred taxation liability				0	11,096	41,926
Tax losses carried forward attributable to accelerated capital allowances				520,526	359,449	292,981
Accelerated capital allowances				(477,289)	(370,545)	(334,907)
Net deferred tax liability	$ (11,096)	$ (11,096)	$ (41,926)	$ 43,237	$ (11,096)	$ (41,926)

AVAILABLE-FOR-SALE FINANCIAL103

AVAILABLE-FOR-SALE FINANCIAL ASSET (Details) - Kibali Jersey Limited [member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Balance at the beginning of the year	$ 58	$ 45	$ 74
other comprehensive income	(34)	12	(20)
Exchange differences	2	1	(9)
Balance at the end of the year	$ 26	$ 58	$ 45

Trade and other payables (Detai

Trade and other payables (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Trade payables	$ 26,766	$ 27,993
Payroll and other compensation	13,513	11,609
Accruals and other payables	101,407	78,701
Gounkoto priority dividend	7,602	9,074
Trade and other current payables	149,288	127,377
Kibali Jersey Limited [member]
Trade payables	46,060	57,590	$ 61,193
Payroll and other compensation	1,908	1,813	2,240
Bank account in overdraft	(12,762)	(11,551)	(7,346)
Accruals and other payables	43,903	60,905	46,304
Gounkoto priority dividend		8,000
Trade and other current payables	$ 104,633	$ 131,859	$ 117,083

Trade and other payables (De105

Trade and other payables (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of trade and other payables [Line Items]
Current dividend payables	$ 7,602	$ 9,074
Kibali Jersey Limited [member]
Disclosure of trade and other payables [Line Items]
Current contract liabilities	$ 8,300	17,900	$ 16,000
Current dividend payables		$ 8,000
Trade and other payables [member] | Kibali Jersey Limited [member]
Disclosure of trade and other payables [Line Items]
Borrowings, maturity	120 days

Provision for environmental 106

Provision for environmental rehabilitation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Balance at the beginning of the year	$ 55,455	$ 47,581
Unwinding of discount	1,386	1,070
Change in estimates	(1,103)	6,804
Balance at the end of the year	$ 55,738	$ 55,455

Provision for environmental 107

Provision for environmental rehabilitation (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-current provisions	$ 55,738	$ 55,455	$ 47,581
Discount rate used in current estimate of value in use	2.50%	2.50%	2.25%
Provision for decommissioning, restoration and rehabilitation costs [member]
Discount rate used in current estimate of value in use	2.50%	2.50%
Loulo gold mine [Member]
Non-current provisions	$ 27,200	$ 23,900
Tongon gold mine [Member]
Non-current provisions	19,700	23,900
Gounkoto gold mine [Member]
Non-current provisions	$ 8,800	$ 7,700

Employment cost (Details)

Employment cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Total employee benefit cost was as follows:
Short term benefits	$ 75,507	$ 71,453	$ 50,199
Pension contributions	13,665	11,460	5,104
Share-based payments	21,993	23,891	22,943
Total	$ 111,165	$ 106,804	$ 78,246

Employment cost (Details 2)

Employment cost (Details 2)	Dec. 31, 2017USD ($)Number	Dec. 31, 2016USD ($)Number	Dec. 31, 2015USD ($)Number
Disclosure of employment cost [Line Items]
Number of share options outstanding in share-based payment arrangement	2,000	14,477	125,277
Weighted average remaining contractual life of outstanding share options	0.39	0.74	2.19
Weighted average exercise price of share options outstanding in share-based payment arrangement | $	$ 45.27	$ 25.38	$ 28.74
Exercise Price Range One [Member]
Disclosure of employment cost [Line Items]
Number of share options outstanding in share-based payment arrangement	2,000	12,477	78,277
Weighted average remaining contractual life of outstanding share options	0.39	0.64	1.64
Weighted average exercise price of share options outstanding in share-based payment arrangement | $	$ 45.27	$ 22.19	$ 22.19
Exercise Price Range Two [Member]
Disclosure of employment cost [Line Items]
Number of share options outstanding in share-based payment arrangement		2,000	31,000
Weighted average remaining contractual life of outstanding share options		1.39	2.8
Weighted average exercise price of share options outstanding in share-based payment arrangement | $		$ 45.27	$ 30.69
Exercise Price Range Three [Member]
Disclosure of employment cost [Line Items]
Number of share options outstanding in share-based payment arrangement			16,000
Weighted average remaining contractual life of outstanding share options			3.67
Weighted average exercise price of share options outstanding in share-based payment arrangement | $			$ 56.99

Employment cost (Details 3)

Employment cost (Details 3)	Dec. 31, 2017USD ($)Number	Dec. 31, 2016USD ($)Number	Dec. 31, 2015USD ($)Number
Disclosure of employment cost [Line Items]
Number of share options exercisable in share-based payment arrangement | Number	2,000	14,477	125,277
Weighted average exercise price of share options exercisable in share-based payment arrangement | $	$ 45.27	$ 25.38	$ 28.74
Exercise Price Range One [Member]
Disclosure of employment cost [Line Items]
Number of share options exercisable in share-based payment arrangement | Number	2,000	12,477	78,277
Weighted average exercise price of share options exercisable in share-based payment arrangement | $	$ 45.27	$ 22.19	$ 22.19
Exercise Price Range Two [Member]
Disclosure of employment cost [Line Items]
Number of share options exercisable in share-based payment arrangement | Number		2,000	31,000
Weighted average exercise price of share options exercisable in share-based payment arrangement | $		$ 45.27	$ 30.69
Exercise Price Range Three [Member]
Disclosure of employment cost [Line Items]
Number of share options exercisable in share-based payment arrangement | Number			16,000
Weighted average exercise price of share options exercisable in share-based payment arrangement | $			$ 56.99

Employment cost (Details 4)

Employment cost (Details 4) - Employee [Member] - Restricted Stocks [Member]	1 Months Ended	8 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)	Aug. 31, 2017USD ($)Number		Dec. 31, 2017USD ($)Number		Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)
Disclosure of employment cost [Line Items]
Quantity of shares issued | Number		30,000		149,100
Fair value of shares issued	$ 1,900,000	$ 2,070,000		$ 1,360,000		$ 2,200,000	$ 2,000,000
Performance period	4 years	3,4 and 5 years		3,4 and 5 years
Volatility		36.9%,35.3% and 36.3%	[1]	37.2%,36.7% and 39.5%	[2]
Risk-free interest rate		1.5%,1.8% and 1.8%		1.4%,1.8% and 1.8%
Dividend yield		1.06%		1.07%
Weighted average share price on grant and valuation date		$ 93,700		$ 94,940
[1]	Weighted average share price for the valuation is calculated taking into account the market price on all grant dates.
[2]	Volatility is based on the three year historical volatility of the company’s shares on each grant date.

Employment cost (Details 5)

Employment cost (Details 5) - Executive Director [Member]		1 Months Ended
		Mar. 31, 2017USD ($)Number		Mar. 31, 2016USD ($)Number	Mar. 31, 2015USD ($)Number
Disclosure of employment cost [Line Items]
Euromoney Global Gold Index volatility		37.00%
Volatility	[1]	37.00%
Correlation used between the Euromoney Global Gold Index and the company TSR		85.00%
Weighted average share price on grant and valuation date	[2]	$ 87,410
Restricted Stocks [Member]
Disclosure of employment cost [Line Items]
Quantity of shares issued | Number		49,357		44,664	55,782
Euromoney Global Gold Index volatility		37.00%		35.00%	35.00%
Risk free interest rate		1.90%		1.01%	1.45%
Volatility	[3]	37.00%		35.00%	35.00%
Correlation used between the Euromoney Global Gold Index and the company TSR		60.00%		85.00%	85.00%
Weighted average share price on grant and valuation date		$ 87,410	[2]	$ 88,500	$ 67,410
[1]	Volatility is based on the three year historical volatility of the company’s shares over the relevant vesting periods.
[2]	Weighted average share price for the valuation is calculated taking into account the market price on all grant dates.
[3]	Volatility is based on the three year historical volatility of the company’s shares over the relevant vesting periods.

Employment cost (Details 6)

Employment cost (Details 6)	12 Months Ended
	Dec. 31, 2017USD ($)Number	Dec. 31, 2016USD ($)Number	Dec. 31, 2015USD ($)Number
Disclosure of employment cost [Line Items]
Weighted Average remaining contractual life (years)	0.39	0.74	2.19
Employee [Member]
Disclosure of employment cost [Line Items]
Balance | $	$ 82.53	$ 81.36	$ 84.36
Awarded | $	94.73	89.63	75.99
Vested | $	83.28	89.75	89.08
Lapsed | $	80.88	76.57	84.66
Balance | $	$ 82.85	$ 82.53	$ 81.36
Balance	1,220,600	1,189,300	1,248,800
Awarded	179,100	374,100	286,300
Vested	(259,450)	(234,100)	(222,300)
Lapsed	(76,950)	(108,700)	(123,500)
Balance	1,063,300	1,220,600	1,189,300
Weighted Average remaining contractual life (years)	2.45	2.14	2.75
Executive Director [Member]
Disclosure of employment cost [Line Items]
Balance | $	$ 82.62	$ 80.88	$ 84.54
Awarded | $	87.87	92.75	73.42
Vested | $	0	76.53	76.53
Lapsed | $	90.76	86.45	89.08
Balance | $	$ 82.81	$ 82.62	$ 80.88
Balance	191,472	189,142	160,655
Awarded	49,357	44,664	55,781
Vested	0	(3,882)	(3,882)
Lapsed	(26,810)	(38,452)	(23,412)
Balance	214,019	191,472	189,142
Weighted Average remaining contractual life (years)	1.39	1.74	2.42
Non Executive Director [Member]
Disclosure of employment cost [Line Items]
Balance | $	$ 0	$ 0	$ 76.15
Awarded | $	88.99	99.68	76.15
Vested | $	88.99	99.68	76.15
Balance | $	$ 0	$ 0	$ 0
Balance	0	0	0
Awarded	10,500	13,500	13,500
Vested	(10,500)	(13,500)	(13,500)
Balance	0	0	0
Weighted Average remaining contractual life (years)	0	0	0

Employment cost (Details 7)

Employment cost (Details 7)		1 Months Ended
		Mar. 31, 2017USD ($)Number	Mar. 31, 2016USD ($)Number	Mar. 31, 2015USD ($)Number
Co-Investment Plan [Member]
Disclosure of employment cost [Line Items]
Volatility	[1]	37.00%
Executive Director [Member]
Disclosure of employment cost [Line Items]
Volatility	[1]	37.00%
Euromoney Global Gold Index volatility		37.00%
Correlation used between the Euromoney Global Gold Index and the company TSR		85.00%
Weighted average share price on grant and valuation date	[2]	$ 87,410
Executive Director [Member] | Co-Investment Plan [Member]
Disclosure of employment cost [Line Items]
Quantity of shares committed | Number		61,697	55,830	69,726
Fair value	[3]	$ 2.8	$ 2,300,000	$ 2,600,000
Performance period	[3]	3	3	3
Risk free interest rate		1.66%	1.01%	0.89%
Volatility	[1]		35.00%	35.00%
Euromoney Global Gold Index volatility			35.00%	35.00%
Correlation used between the Euromoney Global Gold Index and the company TSR			85.00%	85.00%
Weighted average share price on grant and valuation date	[2]		$ 88,500	$ 74,000
[1]	Volatility is based on the three year historical volatility of the company’s shares over the relevant vesting periods.
[2]	Weighted average share price for the valuation is calculated taking into account the market price on all grant dates.
[3]	Volatility is based on the three year historical volatility of the company’s shares on each grant date.

Employment cost (Details 8)

Employment cost (Details 8) - Co-Investment Plan [Member]		1 Months Ended
		Mar. 31, 2017USD ($)Number	Mar. 31, 2016USD ($)Number	Mar. 31, 2015USD ($)Number
Disclosure of employment cost [Line Items]
Volatility	[1]	37.00%
Senior Management [Member]
Disclosure of employment cost [Line Items]
Quantity of shares committed | Number		6,845	10,739	20,730
Fair value	[2]	$ 300,000	$ 400,000	$ 800,000
Performance period	[2]	3	3	3
Risk free interest rate		1.66%	1.01%	0.95%
Volatility	[1]		35.00%	35.00%
Euromoney Global Gold Index volatility		37.00%	35.00%	35.00%
Correlation used between the Euromoney Global Gold Index and the company TSR		85.00%	85.00%	85.00%
Weighted average share price on grant and valuation date	[3]	$ 87,410	$ 88,500	$ 73,380
[1]	Volatility is based on the three year historical volatility of the company’s shares over the relevant vesting periods.
[2]	Volatility is based on the three year historical volatility of the company’s shares on each grant date.
[3]	Weighted average share price for the valuation is calculated taking into account the market price on all grant dates.

Employment cost (Details Textua

Employment cost (Details Textual)		1 Months Ended						12 Months Ended
		Mar. 31, 2017USD ($)Number	Aug. 31, 2016	Apr. 29, 2016Number	Mar. 31, 2016USD ($)Number	Jan. 31, 2016	Mar. 31, 2015USD ($)Number	Dec. 31, 2017USD ($)Number$ / shares	Dec. 31, 2016USD ($)$ / shares	Dec. 31, 2014$ / sharesshares	Dec. 31, 2013$ / sharesshares
Disclosure of employment cost [Line Items]
Description of vesting requirements for share-based payment arrangement								Options vest after two, three and four yearsOptions vest after two, three and four years
Description of maximum term of options granted for share-based payment arrangement								lapse after a maximum term of 10 years
Number of share options exercised in share-based payment arrangement | Number								12,477
Performance Conditions For Sharebased Payment Arrangement | shares										30,018	10,006
Performance Conditions For Sharebased Payment Arrangement Per Share | $ / shares										$ 67.41	$ 71.54
Weighted Average Exercise Price Of Share Options Exercised In Sharebased Payment Arrangements | $ / shares								$ 22.19
Maximum Level Description								one-for-one
Weighted average share price for share options in share-based payment arrangement exercised during period at date of exercise | $	[1]							$ 95.92
Shares retention period								12 years
Employee [Member]
Disclosure of employment cost [Line Items]
Description of vesting requirements for share-based payment arrangement									Vested over three, four and five years
Number of share options granted in share-based payment arrangement			127,300			246,800			374,100
Weighted average fair value at measurement date, share options granted | $									$ 32,500,000
Employee [Member] | Top of range [member]
Disclosure of employment cost [Line Items]
Market Share Price | $ / shares									$ 75.2
Employee [Member] | Bottom of range [member]
Disclosure of employment cost [Line Items]
Market Share Price | $ / shares									$ 117.6
Senior Management [Member] | Co-Investment Plan [Member]
Disclosure of employment cost [Line Items]
Number of share options granted in share-based payment arrangement | Number		6,845			10,739		20,730
Weighted average fair value at measurement date, share options granted | $	[2]	$ 300,000			$ 400,000		$ 800,000
Bonus Percentage On Base Salary								100.00%
Number of share options vested in period | shares											10,841
Chief Executive Officers [Member]
Disclosure of employment cost [Line Items]
Number of share options granted in share-based payment arrangement | Number				40,024
Weighted average fair value at measurement date, share options granted | $								$ 4,000,000
Chief Executive Officers [Member] | Co-Investment Plan [Member]
Disclosure of employment cost [Line Items]
Bonus Percentage On Base Salary								250.00%
Chief Financial Officers [Member] | Co-Investment Plan [Member]
Disclosure of employment cost [Line Items]
Bonus Percentage On Base Salary								125.00%
[1]	Inception date, July 20, 2017.
[2]	Volatility is based on the three year historical volatility of the company’s shares on each grant date.

Segmental information (Details)

Segmental information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Segmental Information [Line Items]
Total revenue	$ 1,280,217	$ 1,200,777	$ 1,001,420
Depreciation and amortization	0
Mining and processing costs	0
Royalties	65,663	62,377	51,673
Exploration and corporate expenditure	47,785	41,202	45,067
Other (expenses)/income and JV profit	0
Finance costs	3,107	3,193	4,411
Finance income	6,018	1,553	112
Share of profits equity accounted joint ventures	11,950	17,299	77,303
Profit before income tax	480,854	402,605	260,778
Income tax expense	145,807	108,384	48,003
Net (loss)/profit for the year	335,047	294,221	212,775
Total assets	4,303,469	4,040,958
Kibali Jersey Limited [member]
Disclosure Of Segmental Information [Line Items]
Total revenue	754,852	709,372	747,272
Depreciation and amortization	264,415	210,925	192,509
Mining and processing costs	698,980	594,722	550,712
Royalties	31,913	32,976	30,196
Exploration and corporate expenditure	8,205	6,398	8,248
Other (expenses)/income and JV profit	146	136	0
Finance costs	5,478	5,298	5,376
Finance income	4,147	4,735	4,818
Profit before income tax	(40,349)	26,728	155,825
Income tax expense	(54,333)	(22,962)	17,840
Net (loss)/profit for the year	13,984	49,690	137,985
Total assets	3,003,513	3,003,473	3,034,762
Operating Segments [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue	1,280,217	1,200,777	1,001,420
Mining and processing costs excluding depreciation	(524,939)	(534,902)	(575,895)
Depreciation and amortization	(182,900)	(175,343)	(150,902)
Mining and processing costs	(707,839)	(710,245)	(726,797)
Royalties	(65,663)	(62,377)	(51,673)
Exploration and corporate expenditure	(47,785)	(41,202)	(45,067)
Other (expenses)/income and JV profit	7,063	(7)	9,891
Finance costs	(3,107)	(3,193)	(4,411)
Finance income	6,018	1,553	112
Share of profits equity accounted joint ventures	11,950	17,299	77,303
Profit before income tax	480,854	402,605	260,778
Income tax expense	(145,807)	(108,384)	(48,003)
Net (loss)/profit for the year	335,047	294,221	212,775
Capital expenditure	(195,979)	(170,783)	(216,038)
Total assets	4,303,469	4,040,958	3,737,320
Total external liabilities	(308,435)	(286,236)	(242,250)
Operating Segments [Member] | Kibali Jersey Limited [member]
Disclosure Of Segmental Information [Line Items]
Total revenue	754,852	709,372	747,272
Mining and processing costs excluding depreciation	(434,565)	(383,797)	(358,203)
Depreciation and amortization	(264,415)	(210,925)	(192,509)
Mining and processing costs	(698,980)	(594,722)	(550,712)
Royalties	(31,913)	(32,976)	(30,196)
Exploration and corporate expenditure	(8,205)	(6,398)	(8,248)
Other (expenses)/income and JV profit	(54,772)	(47,985)	(1,733)
Finance costs	(5,478)	(5,298)	(5,376)
Finance income	4,147	4,735	4,818
Profit before income tax	(40,349)	26,728	155,825
Income tax expense	54,333	22,962	(17,840)
Net (loss)/profit for the year	13,984	49,690	137,985
Capital expenditure	246,406	209,070	277,097
Total assets	3,003,512	3,003,473	3,034,762
Total external liabilities	(178,675)	(222,586)	(243,578)
Intercompany eliminations [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue		0	0
Mining and processing costs excluding depreciation	0	0	0
Depreciation and amortization			0
Mining and processing costs		0	0
Royalties		0	0
Exploration and corporate expenditure		0	0
Other (expenses)/income and JV profit		0	0
Finance costs	11,407	14,108	13,208
Finance income	(11,407)	(14,108)	(13,208)
Share of profits equity accounted joint ventures	0	0	0
Profit before income tax	0	0	0
Income tax expense		0	0
Net (loss)/profit for the year	0	0	0
Capital expenditure	0	0	0
Total assets	0	0	0
Total external liabilities	0	0	0
Intercompany eliminations [Member] | Kibali Jersey Limited [member]
Disclosure Of Segmental Information [Line Items]
Total revenue	0	0	0
Mining and processing costs excluding depreciation	1,489	1,498	669
Depreciation and amortization	(21,575)	(22,636)	(29,554)
Mining and processing costs	(20,086)	(21,138)	(28,885)
Royalties	0	0	0
Exploration and corporate expenditure	0	0	0
Other (expenses)/income and JV profit	(1,489)	(72)	967
Finance costs	158,252	148,990	144,334
Finance income	(11,178)	(11,209)	(11,177)
Profit before income tax	125,499	116,571	105,239
Income tax expense	0	0	2,910
Net (loss)/profit for the year	125,499	116,571	108,149
Capital expenditure	0	0	0
Total assets	(9,481,173)	(6,639,428)	(6,251,120)
Total external liabilities	8,693,091	6,077,236	5,607,776
Sub Total [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue	1,654,329	1,546,029	1,394,889
Mining and processing costs excluding depreciation	(733,259)	(715,673)	(755,992)
Depreciation and amortization	(313,171)	(292,292)	(256,579)
Mining and processing costs	(1,046,430)	(1,007,965)	(1,012,571)
Royalties	(82,087)	(78,760)	(66,680)
Exploration and corporate expenditure	(49,549)	(43,010)	(48,885)
Other (expenses)/income and JV profit	(29,852)	(30,830)	2,042
Finance costs	1,616	1,536	(1,229)
Finance income	8,376	5,889	4,222
Share of profits equity accounted joint ventures	0	0	0
Profit before income tax	456,404	392,889	271,788
Income tax expense	(121,357)	(98,668)	(59,013)
Net (loss)/profit for the year	335,047	294,221	212,775
Capital expenditure	(311,791)	(227,449)	(344,690)
Total assets	5,874,181	5,602,854	5,254,549
Total external liabilities	(396,920)	(444,591)	(409,709)
Joint venture adjustement [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue	374,112	(345,252)	(393,469)
Mining and processing costs excluding depreciation	208,320	180,771	180,097
Depreciation and amortization	130,271	116,949	105,677
Mining and processing costs	338,591	297,720	285,774
Royalties	16,424	16,383	15,007
Exploration and corporate expenditure	1,764	1,809	3,818
Other (expenses)/income and JV profit	36,915	30,823	7,849
Finance costs	(4,723)	(4,729)	(3,182)
Finance income	(2,358)	(4,336)	(4,110)
Share of profits equity accounted joint ventures	11,950	17,299	77,303
Profit before income tax	24,450	9,716	(11,010)
Income tax expense	(24,450)	(9,716)	11,010
Net (loss)/profit for the year	0	0	0
Capital expenditure	115,812	(56,666)	128,652
Total assets	(1,570,712)	(1,561,896)	(1,517,229)
Total external liabilities	88,485	158,355	167,459
Mali [Member] | Societe des Mines de Morila SA [Member] | Operating Segments [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue	34,429	26,035	57,197
Mining and processing costs excluding depreciation	(24,722)	(21,744)	(31,583)
Depreciation and amortization	(6,592)	(3,785)	(9,335)
Mining and processing costs	(31,314)	(25,529)	(40,918)
Royalties	(2,064)	(1,544)	(1,419)
Exploration and corporate expenditure	0	0	0
Other (expenses)/income and JV profit	(530)	(5,151)	(4,520)
Finance costs	(432)	(317)	(399)
Finance income	7	6	1
Share of profits equity accounted joint ventures	0	0	0
Profit before income tax	96	(6,501)	9,942
Income tax expense	0	(617)	(2,982)
Net (loss)/profit for the year	96	(7,118)	6,960
Capital expenditure	(4,204)	(444)	(2,924)
Total assets	27,625	29,546	37,370
Total external liabilities	(24,940)	(31,520)	(32,124)
Mali [Member] | Societe des Mines de Loulo SA [Member] | Operating Segments [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue	544,941	524,357	406,643
Mining and processing costs excluding depreciation	(198,834)	(200,489)	(236,439)
Depreciation and amortization	(106,255)	(105,236)	(98,761)
Mining and processing costs	(305,089)	(305,725)	(335,200)
Royalties	(32,616)	(31,384)	(24,329)
Exploration and corporate expenditure	(3,874)	(2,435)	(2,079)
Other (expenses)/income and JV profit	(20,193)	(16,750)	(9,727)
Finance costs	(12,096)	(14,693)	(13,428)
Finance income	25	24	17
Share of profits equity accounted joint ventures	0	0	0
Profit before income tax	171,098	153,393	21,897
Income tax expense	(51,399)	(46,072)	(4,013)
Net (loss)/profit for the year	119,699	107,321	17,884
Capital expenditure	(104,700)	(144,363)	(192,271)
Total assets	1,419,695	1,399,837	1,409,986
Total external liabilities	(111,979)	(128,557)	(126,380)
Mali [Member] | Societe des Mines de Gounkoto SA [Member] | Operating Segments [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue	366,510	357,171	317,524
Mining and processing costs excluding depreciation	(139,598)	(146,574)	(145,952)
Depreciation and amortization	(10,506)	(23,513)	(6,705)
Mining and processing costs	(150,104)	(170,088)	(152,657)
Royalties	(21,991)	(21,430)	(19,052)
Exploration and corporate expenditure	(1,228)	(1,026)	(1,064)
Other (expenses)/income and JV profit	(6,297)	(23,004)	(12,533)
Finance costs	(208)	(149)	(171)
Finance income	4	3	3
Share of profits equity accounted joint ventures	0	0	0
Profit before income tax	186,686	141,478	132,050
Income tax expense	(55,744)	(42,444)	(39,615)
Net (loss)/profit for the year	130,942	99,034	92,435
Capital expenditure	(49,738)	(3,800)	(3,087)
Total assets	239,693	204,375	196,388
Total external liabilities	(48,883)	(38,842)	(33,850)
Cote d Ivoire [Member] | Societe des Mines de Tongon SA [Member] | Operating Segments [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue	368,765	319,249	277,253
Mining and processing costs excluding depreciation	(186,508)	(187,839)	(193,504)
Depreciation and amortization	(65,304)	(45,704)	(44,362)
Mining and processing costs	(251,812)	(233,544)	(237,866)
Royalties	(11,055)	(9,562)	(8,292)
Exploration and corporate expenditure	(1,979)	(1,221)	(1,206)
Other (expenses)/income and JV profit	(8,922)	(4,204)	(2,487)
Finance costs	(643)	(486)	(1,734)
Finance income	1,066	20	10
Share of profits equity accounted joint ventures	0	0	0
Profit before income tax	95,420	70,252	25,678
Income tax expense	(27,721)	(17,563)	(4,342)
Net (loss)/profit for the year	67,699	52,689	21,336
Capital expenditure	(9,131)	(15,446)	(18,573)
Total assets	504,841	536,014	472,724
Total external liabilities	(78,835)	(69,878)	(43,514)
Democratic Republic of Congo [Member] | Kibali Goldmines SA [Member] | Operating Segments [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue	339,683	319,218	336,272
Mining and processing costs excluding depreciation	(195,554)	(172,709)	(161,191)
Depreciation and amortization	(123,679)	(102,718)	(87,275)
Mining and processing costs	(319,233)	(275,427)	(248,466)
Royalties	(14,361)	(14,839)	(13,588)
Exploration and corporate expenditure	(1,764)	(1,809)	(3,390)
Other (expenses)/income and JV profit	(16,274)	(13,872)	(1,290)
Finance costs	(2,739)	(3,282)	4,839
Finance income	2,074	3,985	4,108
Share of profits equity accounted joint ventures	0	0	0
Profit before income tax	(12,613)	13,974	78,485
Income tax expense	24,450	10,333	(8,028)
Net (loss)/profit for the year	11,837	24,307	70,457
Capital expenditure	(111,608)	(56,222)	(123,728)
Total assets	1,501,756	1,501,737	1,517,381
Total external liabilities	(83,159)	(111,293)	(121,790)
Democratic Republic of Congo [Member] | Kibali Goldmines SA [Member] | Operating Segments [Member] | Kibali Jersey Limited [member]
Disclosure Of Segmental Information [Line Items]
Total revenue	754,852	709,372	747,272
Mining and processing costs excluding depreciation	(436,054)	(385,295)	(358,872)
Depreciation and amortization	(240,345)	(186,124)	(160,900)
Mining and processing costs	(676,399)	(571,419)	(519,772)
Royalties	(31,913)	(32,976)	(30,196)
Exploration and corporate expenditure	(7,089)	(6,270)	(4,211)
Other (expenses)/income and JV profit	(54,042)	(47,200)	(2,861)
Finance costs	(163,730)	(154,288)	(149,710)
Finance income	1,464	1,345	1,245
Profit before income tax	(176,857)	(101,436)	41,767
Income tax expense	54,333	22,962	(20,750)
Net (loss)/profit for the year	(122,524)	(78,474)	21,017
Capital expenditure	246,406	208,708	274,952
Total assets	2,969,999	2,790,160	2,713,792
Total external liabilities	(3,093,485)	(2,515,598)	(2,654,254)
Jersey [Member] | Corporate and exploration [Member] | Operating Segments [Member]
Disclosure Of Segmental Information [Line Items]
Total revenue	0	0	0
Mining and processing costs excluding depreciation	11,957	13,683	12,677
Depreciation and amortization	(835)	(11,335)	(10,141)
Mining and processing costs	11,122	2,348	2,536
Royalties	0	0	0
Exploration and corporate expenditure	(40,704)	(36,520)	(41,146)
Other (expenses)/income and JV profit	22,364	32,151	32,599
Finance costs	6,327	6,355	(3,544)
Finance income	16,607	15,960	13,291
Share of profits equity accounted joint ventures	0	0	0
Profit before income tax	15,716	20,294	3,736
Income tax expense	(10,943)	(2,306)	(33)
Net (loss)/profit for the year	4,773	17,988	3,703
Capital expenditure	(32,410)	(7,174)	(4,107)
Total assets	2,180,571	1,931,345	1,620,700
Total external liabilities	(49,125)	(64,501)	(52,051)
Jersey [Member] | Corporate and exploration [Member] | Operating Segments [Member] | Kibali Jersey Limited [member]
Disclosure Of Segmental Information [Line Items]
Total revenue	0	0	0
Mining and processing costs excluding depreciation	0	0	0
Depreciation and amortization	(2,494)	(2,165)	(2,055)
Mining and processing costs	(2,494)	(2,165)	(2,055)
Royalties	0	0	0
Exploration and corporate expenditure	(1,116)	(128)	(4,037)
Other (expenses)/income and JV profit	758	(713)	161
Finance costs	0	0	0
Finance income	13,861	14,599	14,750
Profit before income tax	11,009	11,593	8,819
Income tax expense	0	0	0
Net (loss)/profit for the year	11,009	11,593	8,819
Capital expenditure		362	2,145
Total assets	9,514,687	6,852,741	6,572,090
Total external liabilities	$ (5,778,281)	$ (3,339,052)	$ (3,197,100)

Financial risk management (Deta

Financial risk management (Details) - Currency risk [member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Trade and other payables [Member]
Credit exposure	$ (37,067)	$ (4,525)
Euro [Member] | Trade and other payables [Member]
Credit exposure	(321)	(486)
Euro [Member] | Trade and other payables [Member] | Kibali Jersey Limited [member]
Credit exposure	(284)	(825)	$ (772)
South African rand [Member] | Trade and other payables [Member]
Credit exposure	(1,296)	(868)
South African rand [Member] | Trade and other payables [Member] | Kibali Jersey Limited [member]
Credit exposure	(1,003)	(671)	(2,567)
British pound [Member] | Trade and other payables [Member]
Credit exposure	(742)	(898)
British pound [Member] | Trade and other payables [Member] | Kibali Jersey Limited [member]
Credit exposure	(2)	0	(3)
Australian Dollar [Member] | Trade and other payables [Member] | Kibali Jersey Limited [member]
Credit exposure	(87)	(193)	(191)
Cash and cash equivalent [Member]
Credit exposure	676	1,289
Cash and cash equivalent [Member] | Congolese franc [Member] | Kibali Jersey Limited [member]
Credit exposure	28	249	71
Cash and cash equivalent [Member] | Euro [Member]
Credit exposure	2,170	2,222
Cash and cash equivalent [Member] | Euro [Member] | Kibali Jersey Limited [member]
Credit exposure	297	17	47
Cash and cash equivalent [Member] | South African rand [Member]
Credit exposure	1,217	166
Cash and cash equivalent [Member] | South African rand [Member] | Kibali Jersey Limited [member]
Credit exposure	65	758	17
Cash and cash equivalent [Member] | British pound [Member]
Credit exposure	702	277
Cash and cash equivalent [Member] | British pound [Member] | Kibali Jersey Limited [member]
Credit exposure	3	55	4
Cash and cash equivalent [Member] | Australian Dollar [Member] | Kibali Jersey Limited [member]
Credit exposure	402	369	363
Trade and other receivables [Member]
Credit exposure	19,165	6,886
Trade and other receivables [Member] | Congolese franc [Member] | Kibali Jersey Limited [member]
Credit exposure	4	5	0
Trade and other receivables [Member] | Euro [Member]
Credit exposure	7,546	4,806
Trade and other receivables [Member] | Euro [Member] | Kibali Jersey Limited [member]
Credit exposure	0	0	306
Trade and other receivables [Member] | South African rand [Member]
Credit exposure	0	89
Trade and other receivables [Member] | South African rand [Member] | Kibali Jersey Limited [member]
Credit exposure	0	0	298
Trade and other receivables [Member] | British pound [Member]
Credit exposure	46	2
Trade and other receivables [Member] | British pound [Member] | Kibali Jersey Limited [member]
Credit exposure	0	0	1
Trade and other receivables [Member] | Australian Dollar [Member] | Kibali Jersey Limited [member]
Credit exposure	$ 0	$ 0	$ 0

Financial risk management (D119

Financial risk management (Details 1) $ in Thousands	Dec. 31, 2017USD ($)Number	Dec. 31, 2016USD ($)Number	Dec. 31, 2015USD ($)Number
Reserve of exchange differences on translation	$ 1,400	$ 1,400	$ 1,400
Currency risk [member] | Communaute Financiere Africaine franc [Member]
Closing foreign exchange rate | Number	547.53	623.3
Reserve of exchange differences on translation	$ (1,723)	$ 365
Currency risk [member] | Euro [member]
Closing foreign exchange rate | Number	0.8347	0.949
Reserve of exchange differences on translation	$ 940	$ 654
Currency risk [member] | South African rand [member]
Closing foreign exchange rate | Number	12.36	13.65
Reserve of exchange differences on translation	$ (8)	$ (61)
Currency risk [member] | British pound [member]
Closing foreign exchange rate | Number	0.74	0.81
Reserve of exchange differences on translation	$ 1	$ (62)
Kibali Jersey Limited [member] | Currency risk [member] | Euro [member]
Closing foreign exchange rate | Number	0.83382	0.94868	0.91525
Reserve of exchange differences on translation	$ (28)	$ (83)	$ (47)
Kibali Jersey Limited [member] | Currency risk [member] | South African rand [member]
Closing foreign exchange rate | Number	12.34503	13.71502	15.45369
Reserve of exchange differences on translation	$ (100)	$ (67)	$ (204)

Financial risk management (D120

Financial risk management (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash and cash equivalents, Amount	$ 719,808	$ 516,301	$ 213,372	$ 82,752
Not later than three months [member] | Interest Rate Risk [Member]
Cash and cash equivalents, Amount	$ 719,808
Cash and cash equivalents, Effective rate for the year	0.9029%
Kibali Jersey Limited [Member]
Cash and cash equivalents, Amount	$ 3,288	$ 18,865	$ 21,373
Kibali Jersey Limited [Member] | Not later than three months [member] | Interest Rate Risk [Member]
Cash and cash equivalents, Amount	$ 3,288
Cash and cash equivalents, Effective rate for the year	0.08%

Financial risk management (D121

Financial risk management (Details 3) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of financial risk management [Line Items]
Trade and other payables	$ (149,288)	$ (127,377)
Less: cash and cash equivalents	719,808	516,301	$ 213,372	$ 82,752
Net position	570,520	388,924
Total equity	3,992,269	3,751,957	$ 3,492,305	3,302,954
Total capital	$ 3,421,749	$ 3,363,033
Gearing ratio	0.00%	0.00%	1.50%
Kibali Jersey Limited [Member]
Disclosure of financial risk management [Line Items]
Trade and other payables	$ (104,633)	$ (131,859)	$ (117,083)
Borrowings and trade and other payables (note 16 and 18)	153,439	189,073	178,638
Less: cash and cash equivalents	3,288	18,865	21,373
Net borrowings, trade and other payables and cash	150,151	170,208	157,265
Total equity	2,824,838	2,780,887	2,791,184	$ 2,720,055
Total capital	$ 2,974,988	$ 2,915,095	$ 2,948,449
Gearing ratio	5.00%	6.00%	5.00%

Financial risk management (D122

Financial risk management (Details 4) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Trade and Other payables	$ 134,662	$ 106,548
Borrowings	0	0
Other financial liabilities	2,765	2,765
Not later than one year [member]
Trade and Other payables	134,662	106,548
Borrowings	0	0
Other financial liabilities	0	0
Later than one year and not later than five years [member]
Trade and Other payables	0	0
Borrowings	0	0
Other financial liabilities	0	0
Later than five years [member]
Trade and Other payables	0	0
Borrowings	0	0
Other financial liabilities	2,765	2,765
Kibali Jersey Limited [Member]
Trade and Other payables	104,633	131,859	$ 117,083
Borrowings	48,806	57,214	61,555
Future finance charge on finance lease	(9,662)	(13,545)	(18,696)
Kibali Jersey Limited [Member] | Not later than one year [member]
Trade and Other payables	104,633	131,859	117,083
Borrowings	7,596	10,285	9,808
Future finance charge on finance lease	3,345	3,974	2,461
Kibali Jersey Limited [Member] | Later than one year and not later than five years [member]
Trade and Other payables	0	0	0
Borrowings	41,210	46,929	39,075
Future finance charge on finance lease	6,820	8,693	12,430
Kibali Jersey Limited [Member] | Later than five years [member]
Trade and Other payables	0	0	0
Borrowings	0	0	12,672
Future finance charge on finance lease	$ 305	$ 878	$ 3,805

Financial risk management (D123

Financial risk management (Details Taxtual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reserve of exchange differences on translation	$ 1,400	$ 1,400	$ 1,400
Trade receivables [member]
Value added tax receivables	114,400	89,400
Kibali Goldmines SA [Member]
Value added tax receivables	$ 70,200	64,900
Kibali Jersey Limited [Member]
Description of reason for change in functional currency	the impact of a 10% change in the US dollar on profit and equity arising as a result of the revaluation of the group’s foreign currency financial instruments.
Value added tax receivables	$ 134,514	$ 131,214	$ 137,369
Unsecured revolving credit facility [Member]
Unsecured bank loans received	400,000
Investments in joint ventures [Member]
Reserve of exchange differences on translation	11,900
Investments in joint ventures [Member] | Kibali Jersey Limited [Member]
Reserve of exchange differences on translation	$ 12,200

Fair value of financial inst124

Fair value of financial instruments (Details) - Level 1 of fair value hierarchy [member] - Financial assets available-for-sale, category [member] - Kibali Jersey Limited [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure Of Fair Value Of Financial Instruments [Line Items]
Financial assets	$ 26	$ 58	$ 45
Financial assets, at fair value	$ 26	$ 58	$ 45

NON-CONTROLLING INTEREST (Detai

NON-CONTROLLING INTEREST (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Balance at the beginning of the year	$ 253,258
Non-controlling interests	57,030	$ 46,747	$ 24,098
Balance at the end of the year	285,914	253,258
Kibali Jersey Limited [member]
Balance at the beginning of the year	19,777	27,624	25,522
Non-controlling interests	(12,357)	(7,847)	2,102
Balance at the end of the year	$ 7,420	$ 19,777	$ 27,624

NON-CONTROLLING INTEREST (De126

NON-CONTROLLING INTEREST (Details Textual)	12 Months Ended
	Dec. 31, 2017
Kibali Jersey Limited [member]
Proportion of ownership interests held by non-controlling interests	10.00%

LOANS AND BORROWINGS (Details)

LOANS AND BORROWINGS (Details) - USD ($) $ in Thousands	Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015
Non-current
Non-current portion of non-current borrowings	$ 2,765		$ 2,765
Current
Total loans and borrowings	47,946	[1]	55,017
Kibali Jersey Limited [member]
Non-current
Finance lease liability (refer to note 19)	40,350		46,707	$ 51,530
Loan - Randgold (refer to note 26)	860		222	217
Non-current portion of non-current borrowings	41,210		46,929	51,747
Current
Finance lease liability (refer to note 19)	7,596		8,310	8,223
Loan - Randgold (refer to note 26)	0		1,975	1,585
Current borrowings and current portion of non-current borrowings	7,596		10,285	9,808
Total loans and borrowings	$ 48,806		$ 57,214	$ 61,555
[1]	Refer to note 19 and the consolidated cash flow statement.

LOANS AND BORROWINGS (Details T

LOANS AND BORROWINGS (Details Textual)	Dec. 31, 2017
Kibali Jersey Limited [member]
Borrowings, interest rate	8.00%

PROVISION FOR REHABILITATION (D

PROVISION FOR REHABILITATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Balance at the beginning of the year	$ 55,455	$ 47,581
Unwinding of discount	1,386	1,070
Change in estimates	(1,103)	6,804
Balance at the end of the year	55,738	55,455	$ 47,581
Kibali Jersey Limited [member]
Balance at the beginning of the year	21,163	15,533	15,341
Unwinding of discount	529	349	384
Change in estimates	1,552	5,281	(192)
Balance at the end of the year	$ 23,244	$ 21,163	$ 15,533

PROVISION FOR REHABILITATION130

PROVISION FOR REHABILITATION (Details Textual)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Discount rate used in current estimate of value in use	2.50%	2.50%	2.25%
Provision for decommissioning, restoration and rehabilitation costs [member]
Discount rate used in current estimate of value in use	2.50%	2.50%
Kibali Jersey Limited [member]
Discount rate used in current estimate of value in use	2.50%	2.50%	2.25%
Kibali Jersey Limited [member] | Provision for decommissioning, restoration and rehabilitation costs [member]
Discount rate used in current estimate of value in use	2.50%	2.50%	2.25%

LEASES (Details)

LEASES (Details) - Kibali Jersey Limited [member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Gross finance lease liabilities - minimum lease payments:
Future finance charges	$ (9,662)	$ (13,545)	$ (18,696)
Present value of the finance lease liability	47,946	55,017	59,753
Not later than one year [member]
Gross finance lease liabilities - minimum lease payments:
Minimum lease payments	11,042	12,979	12,100
Future finance charges	3,345	3,974	2,461
Present value of the finance lease liability	7,596	8,310	8,223
Later than one year and not later than five years [member]
Gross finance lease liabilities - minimum lease payments:
Minimum lease payments	39,872	42,239	52,968
Future finance charges	6,820	8,693	12,430
Present value of the finance lease liability	32,618	32,853	38,858
Later than five years [member]
Gross finance lease liabilities - minimum lease payments:
Minimum lease payments	6,694	13,344	13,381
Future finance charges	305	878	3,805
Present value of the finance lease liability	$ 7,732	$ 13,854	$ 12,672

CASH FLOW FROM OPERATING ACT132

CASH FLOW FROM OPERATING ACTIVITIES AND NON-CASH ITEMS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
(Loss)/Profit before income taxation	$ 480,854	$ 402,605	$ 260,778
Adjustments for:
Depreciation and amortization	182,900	175,343	150,902
Movement in discounting provision on TVA (Note 3)	(1,103)	6,804
Recycling of permanent losses on available-for-sale asset	0	1,600	(561)
Unwinding of rehabilitation provision	1,386	1,070	1,397
Cash flows from (used in) operations before changes in working capital	698,987	617,980	398,474
Effects of changes in operating working capital items
- Trade and other payables	7,402	14,577	6,220
Cash generated from operations	691,346	565,032	410,432
Kibali Jersey Limited [Member]
(Loss)/Profit before income taxation	(40,349)	26,728	155,825
Adjustments for:
Interest received (Note 6)	(4,147)	(4,735)	(4,818)
Finance cost (Note 6)	4,949	4,949	4,992
Share of profits of equity accounted joint venture	113	129	268
Depreciation and amortization	264,415	210,925	192,509
Foreign exchange loss	38,469	36,134	0
Movement in discounting provision on TVA (Note 3)	1,552	5,281	(192)
Recycling of permanent losses on available-for-sale asset	(33)	13	(29)
Unwinding of rehabilitation provision	529	349	384
Cash flows from (used in) operations before changes in working capital	275,930	282,041	351,768
Effects of changes in operating working capital items
- Receivables	(69,741)	(29,287)	(7,122)
- Inventories	30,266	5,484	12,565
- Trade and other payables	(11,026)	14,712	12,447
Cash generated from operations	$ 225,429	$ 272,950	$ 369,658

CASH FLOW FROM OPERATING ACT133

CASH FLOW FROM OPERATING ACTIVITIES AND NON-CASH ITEMS (Details 1) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Disclosure of Cash Flow From Operating Activities And Non-Cash Items [Line Items]
Borrowings	$ 55,017
Cash flows:
Lease repayments	(7,228)
Non cash flows:
Loans and borrowings classified as non-current at December 31, 2016	0
Interest and capital accrued	157
Borrowings	47,946	[1]
Long-term borrowings [member]
Disclosure of Cash Flow From Operating Activities And Non-Cash Items [Line Items]
Non-current portion of non-current borrowings	46,707
Cash flows:
Lease repayments	0
Non cash flows:
Loans and borrowings classified as non-current at December 31, 2016	(6,357)
Interest and capital accrued	0
Non-current portion of non-current borrowings	40,350	[1]
Short-term borrowings [member]
Disclosure of Cash Flow From Operating Activities And Non-Cash Items [Line Items]
Short-term Debt	8,310
Cash flows:
Lease repayments	(7,228)
Non cash flows:
Loans and borrowings classified as non-current at December 31, 2016	6,357
Interest and capital accrued	157
Short-term Debt	$ 7,596	[1]
[1]	Refer to note 19 and the consolidated cash flow statement.

CASH FLOW FROM OPERATING ACT134

CASH FLOW FROM OPERATING ACTIVITIES AND NON-CASH ITEMS (Details Textual) - Kibali Jersey Limited [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Movement in Finance Lease Liabilities	$ 4.1	$ 4.7	$ 1.2
Movement in Finance Lease Assets	29.7	6.6	4.3
Changes in Rehabilitation Provision Estimates	2.1	5.2	0
Dividends payable	$ 0	$ 8	$ 0

Commitments and contingent l135

Commitments and contingent liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Capital expenditure contracted for at statement of financial position date but not yet incurred is:
Property, plant and equipment	$ 17,262	$ 7,019
Commitments of joint ventures (attributable share)
Commitments in relation to joint ventures	24,861	9,692
Contractual capital commitments	42,123	16,711
Kibali Jersey Limited [Member]
Commitments of joint ventures (attributable share)
Commitments in relation to joint ventures	8,599	9,655
Kibali Jersey Limited [Member] | Property, Plant and Equipment [Member]
Capital expenditure contracted for at statement of financial position date but not yet incurred is:
Property, plant and equipment	19,108	21,456	$ 27,385
Societe des Mines de Morila SA [Member]
Commitments of joint ventures (attributable share)
Commitments in relation to joint ventures	0	37
RAL 1 Limited [Member]
Commitments of joint ventures (attributable share)
Commitments in relation to joint ventures	$ 16,262	$ 0

Commitments and contingent l136

Commitments and contingent liabilities (Details 1) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Disclosure of commitments and contingent liabilities [Line Items]
Minimum lease payments payable under non-cancellable operating lease	$ 23,088	$ 19,888
Not later than one year [member]
Disclosure of commitments and contingent liabilities [Line Items]
Minimum lease payments payable under non-cancellable operating lease	2,886	2,486
Later than one year and not later than five years [member]
Disclosure of commitments and contingent liabilities [Line Items]
Minimum lease payments payable under non-cancellable operating lease	11,544	9,944
Later than five years [member]
Disclosure of commitments and contingent liabilities [Line Items]
Minimum lease payments payable under non-cancellable operating lease	$ 8,658	$ 7,458

Commitments and contingent l137

Commitments and contingent liabilities (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2018USD ($)
Disclosure of commitments and contingent liabilities [Line Items]
Dividend payables		$ 60
Capital commitments	$ 211.1		$ 153.9
Income taxes paid (refund)	$ 200.5	$ 122.7
Ten year contracts [Member]
Disclosure of commitments and contingent liabilities [Line Items]
Weighted average duration of defined benefit obligation	10
Five year contacts [Member]
Disclosure of commitments and contingent liabilities [Line Items]
Weighted average duration of defined benefit obligation	5

INVESTMENT IN JOINT VENTURE (De

INVESTMENT IN JOINT VENTURE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 719,808	$ 516,301	$ 213,372	$ 82,752
Total current assets	1,020,880	866,758
Other current liabilities (including trade payables)	(149,288)	(127,377)
Total current liabilities	199,916	188,395
Non-current
Assets	3,282,589	3,174,200
Net assets	(5,172)	(4,933)	12,866
Interest income	6,018	1,553	112
Interest expense	3,107	3,193	4,411
Profit and total comprehensive income for the period	335,030	295,827	213,786
Profit for the period	335,047	294,221	212,775
Interest in joint venture at 50.1%	(2,069)	(1,973)
Funding classified as long term debt by joint venture recorded in ‘other investments in joint ventures’	50,109	34,423	45,940
Carrying value	1,490,719	1,448,634	1,473,256
Kibali Jersey Limited [Member]
Current assets
Cash and cash equivalents	3,288	18,865	21,373
Total current assets	169,536	198,453	280,740
Other current liabilities (including trade payables)	(104,633)	(131,859)	(117,083)
Total current liabilities	114,221	143,398	134,372
Non-current
Assets	2,833,977	2,805,020	2,754,022
Interest income	4,147	4,735	4,818
Interest expense	5,478	5,298	5,376
Profit and total comprehensive income for the period	13,951	49,703	141,129
Profit for the period	13,984	49,690	137,985
Funding classified as long term debt by joint venture recorded in ‘other investments in joint ventures’	25,577	28,830	31,086
Carrying value	25,832	28,972	31,375
Kibali Jersey Limited [Member] | KAS Limited [Member]
Current assets
Cash and cash equivalents	2,039	1,167	1,222
Other current assets (excluding cash)	1,649	10,061	10,584
Total current assets	3,688	11,228	11,806
Other current liabilities (including trade payables)	(1,505)	(1,457)	(1,653)
Total current liabilities	(1,505)	(1,457)	(1,653)
Non-current
Assets	48,065	46,707	51,718
Financial liabilities	(49,739)	(56,195)	(61,295)
Net assets	509	283	576
Operating (loss)/profit	(39)	(21)	234
Interest income	3,959	4,489	4,802
Interest expense	(3,695)	(4,210)	(4,500)
Profit and total comprehensive income for the period	225	258	536
Dividends received from joint venture	0	550	0
Profit for the period	225	258	536
Dividends received	0	(550)	0
Interest in joint venture at 50.1%	255	142	289
Funding classified as long term debt by joint venture recorded in ‘other investments in joint ventures’	25,577	28,830	31,086
Carrying value	$ 25,832	$ 28,972	$ 31,375

INVESTMENT IN JOINT VENTURE 139

INVESTMENT IN JOINT VENTURE (Details Textual)	Dec. 31, 2017
KAS Limited [Member] | Kibali Jersey Limited [Member]
Percentage of fixed bearing Interest	8.00%

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Management fees Income [Member] | Rockwell Diamonds Inc [Member]
Disclosure Of Related Party [Line Items]
Revenue from rendering of services, related party transactions	$ 0	$ 9	$ 37
Income loss [Member] | Societe des Mines de Loulo SA [Member]
Disclosure Of Related Party [Line Items]
Revenue from rendering of services, related party transactions	0	0	0
Income loss [Member] | Societe des Mines de Tongon SA [Member]
Disclosure Of Related Party [Line Items]
Revenue from rendering of services, related party transactions	0	0	0
Income loss [Member] | Societe des Mines de Morila [Member]
Disclosure Of Related Party [Line Items]
Revenue from rendering of services, related party transactions	3,764	3,522	14,259
Income loss [Member] | Societe des Mines de Gounkoto SA [Member]
Disclosure Of Related Party [Line Items]
Revenue from rendering of services, related party transactions	0	0	0
Income loss [Member] | Kibali Goldmines S [Member]
Disclosure Of Related Party [Line Items]
Revenue from rendering of services, related party transactions	13,829	43,106	47,555
Income loss [Member] | RAL 1 Limited [Member]
Disclosure Of Related Party [Line Items]
Revenue from rendering of services, related party transactions	778	2,319	3,049
Income loss [Member] | RAL 2 Limited [Member]
Disclosure Of Related Party [Line Items]
Revenue from rendering of services, related party transactions	$ 2,595	$ 405	$ 335

Related party transactions (141

Related party transactions (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Key management remuneration [Abstract]
Short term employee benefits	$ 13,009	$ 12,899
Share-based payments	10,831	10,836
Total	$ 23,840	$ 23,735

Related party transactions (142

Related party transactions (Details Textual)	12 Months Ended
	Dec. 31, 2017
Societe des Mines de Morila [Member]
Disclosure Of Related Party [Line Items]
Percentage of entity's revenue	1.00%

RELATED PARTIES AND RELATED 143

RELATED PARTIES AND RELATED PARTY TRANSACTIONS (Details) - Kibali Jersey Limited [Member]	12 Months Ended
	Dec. 31, 2017
Randgold Resources Limited [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Ultimate Joint Venture partner
AngloGold Ashanti Limited [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Ultimate Joint Venture partner
AngloGold Ashanti Holdings plc [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Joint Venture partner
Randgold Resources Kibali Limited [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Joint Venture partner
Randgold Resources Congo SPRL [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Entity under common control (subsidiary of Randgold)
Societe des Mines de Loulo SA [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Entity under common control (subsidiary of Randgold)
Societe des Mines de Tongon SA [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Entity under common control (subsidiary of Randgold)
Societe des Mines de Gounkoto SA [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Entity under common control (subsidiary of Randgold)
Rand Refinery Pty Limited [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Associate of AngloGold Ashanti
Societe des Mines d Or de Kilo Moto SA [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Government interest in Kibali
KAS Limited [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Joint Venture
Isiro Jersey Limited [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Joint Venture of Randgold
KGL Isiro SARL [Member]
Disclosure of transactions between related parties [line items]
Description of nature of related party relationship	Subsidiary of Isiro (Jersey) Limited

RELATED PARTIES AND RELATED 144

RELATED PARTIES AND RELATED PARTY TRANSACTIONS (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of transactions between related parties [line items]
Interest received, classified as operating activities	$ 6,018	$ 1,553	$ 112
Interest paid, classified as operating activities	1,721	2,123	3,014
Other investments in joint ventures	50,109	34,423	45,940
Kibali Jersey Limited [member]
Disclosure of transactions between related parties [line items]
Interest received, classified as operating activities	2,701	3,400	3,591
Interest paid, classified as operating activities	4,856	4,637	4,198
Amounts included in trade and other receivables owing by related parties	18,827	17,381	16,046
Other investments in joint ventures	25,577	28,830	31,086
Kibali Jersey Limited [member] | Randgold Resources Limited [Member]
Disclosure of transactions between related parties [line items]
Payments for management fee	4,385	4,296	4,265
Amounts included in trade and other receivables owing by related parties	0	942	0
Amounts included in loans and borrowings owed to related parties	(860)	(2,197)	(1,802)
Kibali Jersey Limited [member] | Rand Refinery Pty Limited [Member]
Disclosure of transactions between related parties [line items]
Refining fees payable	3,632	3,062	3,564
Amounts included in trade and other receivables owing by related parties	30,457	1,497	850
Kibali Jersey Limited [member] | Societe des Mines d Or de Kilo Moto SA [Member]
Disclosure of transactions between related parties [line items]
Interest paid, classified as operating activities	1,097	1,335	1,232
Amounts included in trade and other receivables owing by related parties	18,827	17,381	16,046
Kibali Jersey Limited [member] | KAS Limited [Member]
Disclosure of transactions between related parties [line items]
Interest received, classified as operating activities	1,846	2,105	2,254
Interest paid, classified as operating activities	3,753	4,482	4,800
Other investments in joint ventures	25,577	28,830	31,086
Amounts included in loans and borrowings owed to related parties	(47,946)	(55,017)	(59,753)
Kibali Jersey Limited [member] | Randgold Resources Congo SPRL [Member]
Disclosure of transactions between related parties [line items]
Amounts included in trade and other receivables owing by related parties	182	45	0
Kibali Jersey Limited [member] | KGL Isiro SARL [Member]
Disclosure of transactions between related parties [line items]
Amounts included in trade and other receivables owing by related parties	64	1	21
Kibali Jersey Limited [member] | Societe des Mines de Tongon SA [Member]
Disclosure of transactions between related parties [line items]
Amounts included in trade and other receivables owing by related parties	41	76	3
Kibali Jersey Limited [member] | Societe des Mines de Loulo SA [Member]
Disclosure of transactions between related parties [line items]
Amounts included in trade and other receivables owing by related parties	4	0	3
Kibali Jersey Limited [member] | Societe des Mines de Gounkoto SA [Member]
Disclosure of transactions between related parties [line items]
Amounts included in trade and other receivables owing by related parties	$ 0	$ 32	$ 32

RELATED PARTIES AND RELATED 145

RELATED PARTIES AND RELATED PARTY TRANSACTIONS (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of transactions between related parties [line items]
Revenue	$ 1,280,217	$ 1,200,777	$ 1,001,420
Kibali Jersey Limited [Member]
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in joint venture	50.00%
Kibali Jersey Limited [Member] | Societe des Mines d Or de Kilo Moto SA [Member]
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in joint venture	10.00%
Kibali Jersey Limited [Member] | Rand Refinery Pty Limited [Member]
Disclosure of transactions between related parties [line items]
Revenue	$ 755,000	709,000	747,000
Refining fees payable	$ 3,632	$ 3,062	$ 3,564
Kibali Jersey Limited [Member] | KAS Limited [Member]
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in joint venture	50.10%

SUBSIDIARIES AND NON-CONTROL146

SUBSIDIARIES AND NON-CONTROLLING INTERESTS (Details) - Kibali Jersey Limited [member]	12 Months Ended
	Dec. 31, 2017
Disclosure of subsidiaries [line items]
Proportion of ownership interests held by non-controlling interests	10.00%
Country of incorporation of subsidiary	Jersey
Subsidiaries One [Member]
Disclosure of subsidiaries [line items]
Proportion of ownership interests held by non-controlling interests	100.00%
Country of incorporation of subsidiary	Uganda
Subsidiaries Two [Member]
Disclosure of subsidiaries [line items]
Proportion of ownership interests held by non-controlling interests	100.00%
Country of incorporation of subsidiary	Jersey
Subsidiaries Three [Member]
Disclosure of subsidiaries [line items]
Proportion of ownership interests held by non-controlling interests	100.00%
Country of incorporation of subsidiary	Jersey
Subsidiaries Four [Member]
Disclosure of subsidiaries [line items]
Proportion of ownership interests held by non-controlling interests	100.00%
Country of incorporation of subsidiary	Canada
Subsidiaries Five [Member]
Disclosure of subsidiaries [line items]
Proportion of ownership interests held by non-controlling interests	100.00%
Country of incorporation of subsidiary	Australia
Subsidiaries Six [Member]
Disclosure of subsidiaries [line items]
Proportion of ownership interests held by non-controlling interests	90.00%
Country of incorporation of subsidiary	DRC
Subsidiaries Seven [Member]
Disclosure of subsidiaries [line items]
Proportion of ownership interests held by non-controlling interests	50.10%
Country of incorporation of subsidiary	Jersey

Mining and processing costs 147

Mining and processing costs and other disclosable items (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Disclosure of mining and processing costs and other disclosable items [Line Items]
Depreciation and amortization	$ 0
Mining and processing costs	0
Mining assets [member]
Disclosure of mining and processing costs and other disclosable items [Line Items]
Mine production costs	473,909	$ 461,522	$ 498,779
Movement in production inventory and ore stockpiles	(12,095)	13,239	17,109
Depreciation and amortization	182,900	175,343	150,902
Other mining and processing costs	63,125	60,141	60,007
Mining and processing costs	$ 707,839	$ 710,245	$ 726,797

Exploration and corporate ex148

Exploration and corporate expenditure (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Exploration and corporate expenditure comprise:
Exploration expenditure	$ 27,705	$ 19,609	$ 17,322
Corporate expenditure	20,080	21,593	27,745
Expense arising from exploration for and evaluation of mineral resources	47,785	41,202	45,067
Kibali Jersey Limited [member]
Exploration and corporate expenditure comprise:
Exploration expenditure	2,760	2,748	3,132
Corporate expenditure	5,445	3,650	1,943
Recycling of permanent losses on available-for-sale asset	0	0	3,173
Expense arising from exploration for and evaluation of mineral resources	$ 8,205	$ 6,398	$ 8,248

Finance income and costs (Detai

Finance income and costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finance income - interest income	$ 5,432	$ 1,553	$ 112
Finance income - net foreign exchange gain on financing activities	586	0	0
Finance costs - net foreign exchange loss on financing activities	0	(399)	(1,867)
Finance income comprise:
Interest income arises on cash and cash equivalents.
Finance income	6,018	1,553	112
Finance costs comprise:
Interest expense - borrowings	(1,721)	(1,724)	(1,147)
Unwind of discount on provisions for environmental rehabilitation	(1,386)	(1,070)	(1,397)
Finance costs	(3,107)	(3,193)	(4,411)
Finance costs - net	2,911	(1,640)	(4,299)
Interest expense on other financial liabilities
Kibali Jersey Limited [member]
Finance income comprise:
Interest income arises on cash and cash equivalents.	20	15	19
Interest received - loans and receivables	4,127	4,720	4,799
Finance income	4,147	4,735	4,818
Finance costs comprise:
Interest expense on finance lease	(3,931)	(4,482)	(4,800)
Interest expense - borrowings	(1,018)	(467)	(192)
Unwind of discount on provisions for environmental rehabilitation	(529)	(349)	(384)
Finance costs	(5,478)	(5,298)	(5,376)
Finance costs - net	$ (1,331)	$ (563)	$ (558)