Randgold Resources: Tongon on track to meet 2016 target
JERSEY, CHANNEL ISLANDS--(Marketwired - Feb 3, 2017) - Randgold Resources (NASDAQ: GOLD)(LSE: RRS)
Randgold Resources Ltd.
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD
TONGON ON TRACK TO MEET 2016 TARGET
Tongon, Côte d'Ivoire, Friday 3 February 2017 - Randgold Resources' Tongon gold mine in the Côte d'Ivoire is sustaining its significant performance improvement and is set to achieve its revised production guidance for 2016, chief executive Mark Bristow said here today.
Speaking at a briefing for local media, Bristow said the Tongon team had delivered on all the critical issues, stabilising the optimised crushing circuit, minimising the impact of grid power supply disruptions and implementing an effective preventative maintenance plan.
"These actions have supported a continuing upward trend in the mine's throughput and recovery rates and hence in gold production at a lower cost. Tongon should therefore hit its target of 260 000 ounces for 2016 and is forecasting to produce 285 000 ounces in 2017 and approximately 290 000 ounces per year for the next three years thereafter," he said.
"With Tongon now running smoothly, we're focusing on extending the life of the mine by finding additional resources and reserves in the extensions to the current orebodies, the satellites around the mine and other targets within trucking distance."
Bristow noted that Tongon was also performing well on the health, safety and environmental front, with a big reduction in the lost-time injury frequency rate and a continuing decrease in the incidence of malaria and HIV. The mine retained its international safety and environmental management accreditations.
Randgold also continued its commitment to invest in sustainable community development projects, with the emphasis on potable water, education, primary healthcare and food security.
Updating the company's exploration activities in Côte d'Ivoire, Bristow said progress was being made at the Mankono permit and the new targets defined within the Boundiali belt, highlighting the importance of Côte d'Ivoire in Randgold's search for its next world class discovery.
Please click on the associated PDF document to view the full announcement:
http://www.rns-pdf.londonstockexchange.com/rns/9967V_1-2017-2-3.pdf
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