RANDGOLD RESOURCES LTD | CIK:0001175580 | 3

  • Filed: 3/29/2018
  • Entity registrant name: RANDGOLD RESOURCES LTD (CIK: 0001175580)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1175580/000114420418017952/0001144204-18-017952-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1175580/000114420418017952/gold-20171231.xml
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    • ifrs-full:DisclosureOfBorrowingsExplanatory

    16. LOANS AND BORROWINGS
     
    $000
     
    Dec 31,
    2017
     
    Dec 31,
    2016
     
    Dec 31,
    2015
     
     
     
     
     
     
     
     
     
     
     
     
    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% and is to be reduced by rental payments monthly as agreed in the installment sale agreement. The finance lease is secured by the leased assets. Refer to note 8 for finance lease asset disclosures.
     
    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.