After its record-breaking performance last year, Randgold is positioned to sustain profitable production, and continue delivering value to all stakeholders, well into the future, Bristow states in the company’s 2016 annual report.

notes that, after a slow start to the year, Randgold has increased production to a new high of 1.25-million ounces to achieve its yearly guidance.

The flagship Loulo-Gounkoto operation, in Mali, posted particularly good results, to which all the operations contributed.

Besides exceeding its $500-million net cash target, it also remained debt-free in 2016, when profit rose by 38% and its lost-time injury frequency rate fell to its lowest level ever.

It continued to replenish attributable group reserves and progressed towards identifying three new potential gold projects that fit its investment criteria.

The Kibali gold project in the Democratic Republic of Congo is on track for completion of the underground shaft facility this year, the development of a super pit at the Gounkoto mine, in Mali, is going ahead and the Massawa project, in Senegal, is reportedly looking increasingly viable as the next Randgold mine.

The company’s ten-year business plan ensures profitability at a long-term gold price of $1 000/oz on production of 1.2-million ounces of gold a year.

Its big capital projects are nearing completion and its cost profile is trending down, auguring well for the governments and people of Randgold’s host countries.

“It’s their support and cooperation that make it possible for us to build and operate mines in some of the remotest parts of the world. We have proved over the years that we are there not to exploit these countries but to unlock the value of their mineral resources so that all may benefit,” says Bristow.

Randgold chairperson Christopher Coleman highlights the strong emphasis that the company places on the entrenchment of its social licence, which, he says, is regarded by the company as an essential requirement for business success in Africa.