Randgold Resources predicting record results

Randgold Resources predicting record results

Randgold Resources (LSE:RRS) has revealed it expects to achieve record production from its Loulo-Gounkoto gold mine in Mali in the fourth quarter.

The central and west African focused mining giant is hopeful that the Loulo-Gounkoto complex will exceed its production guidance of 670,000 ounces of gold for 2016, and will maintain annual production of at least 600,000 ounces for the next decade.

The operation, located in western Mali near the Senegalese border, is now firmly established as a long life, high production facility, having poured its first gold in June 2011.

Mark Bristow, Randgold’s chief executive said: “The Loulo-Gounkoto complex is not just world-class, it is the best in its class by any measure.”

He added that the company remains committed to developing further mining and exploration projects in Mali.

The firm also confirmed it is in negotiations to resolve a sit-in at the Tongon mine in Ivory Coast, after a non-union backed selection of employees demanded annual ex-gratia payments.