RANDGOLD RESOURCES LTD | CIK:0001175580 |

 

$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 million to shareholders in 2016. The approved capital expenditure plan for 2018 is $153.9 million (2017: $211.1 million) and is expected to be self-funded by operating cash flows.

 

Operating lease commitments

 

The lease relates to the oxygen plant at Loulo leased from Maligaz. The duration of the contract is 10 years and the contract is renewable for additional periods of 5 years thereafter. The future aggregate minimum lease payments¹ under operating leases are as follows:

 

$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        These payments include payments for non-lease elements in the arrangement.