JOHANNESBURG (miningweekly.com) – Africa-focused gold producer Randgold Resources expects to report record fourth-quarter production at its Loulo-Gounkoto gold mining complex, in Mali.
CEO Mark Bristow reiterated in a briefing to Malian media on Sunday that the company was likely to report that it had exceeded its production guidance of 670 000 oz of gold for 2016.
Further, Randgold expects its production to remain at above 600 000 oz/y for the next ten years.
Bristow further said brownfield exploration at Loulo produced 600 000 oz of inferred resources through drilling at its Gara deposit in 2016, while recent studies at the Yalea deposit have identified a number of targets for follow-up exploration this year.
“Randgold’s investment in exploration continues to be a key part of the company’s long-term strategy in Mali, with exploration teams progressing targets across western Mali during the fourth quarter of the year,” he noted.
He added that significant progress was being made with the establishment of Agripole at Randgold’s other Malian operation, Morila.
Randgold will publish its results for the fourth quarter and 2016 full year on February 6.