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Randgold in sweet spot as it looks to million-ounce-a-year decade

By: Martin Creamer London- and Nasdaq-listed gold mining company Randgold Resources, which produced a record 283 763 oz in the three months to March 31, is in a sweet spot as it reaps the benefit of 19 dogged years of low-cost discovery and development that enables it to cock a snook at low gold prices. Well... 

Kibali helps Randgold to record production

By: Martin Creamer Output from the new Kibali gold mine in the Democratic Republic of Congo (DRC) helped lift the gold production of Randgold Resources to a record level in the first three months of this year. The London-listed company produced an unprecedented 283 763 oz in the March quarter, with Kibali... 

Kibali opened, could herald birth of new DRC economic region – Bristow 

By: Leandi Kolver Democratic Republic of Congo (DRC) Minister of Mines Martin Kabwelulu on Friday officially opened the Kibali gold mine, operated and developed by Africa-focused miner Randgold Resources. The mine, which would rank as one of the largest gold mines in Africa once it reached full production, was... 

Output from Randgold's Tongon mine to hit 260 000 oz in 2014

By: Reuters Gold production from Randgold Resources's Tongon mine, in northern Ivory Coast, will hit 260 000 oz this year, up from 233 591 oz in 2013, the company said. Randgold CEO Mark Bristow said that if gold prices remained between $1 200/oz and $1 300/oz, the $480-million spent on the Tongon mine would... 

Randgold targets 1m oz output for 2014 as resource base expands

By: Natalie Greve Africa-focused miner Randgold Resources aims to exceed one-million ounces of consolidated gold production in 2014 and is closing in on its long-term goal of 1.2-million ounces by 2015, CEO Mark Bristow said in the company's 2013 yearly report on Friday. The gold producer increased production by... 

Randgold's Resource Base Expands, As It Plans For The Next 10 Years

Randgold Resources increased its total attributable mineral resources in 2013 despite depletion from mining in a year that delivered record production. The company’s annual resource and reserve declaration, published today as part of its annual report for 2013, shows attributable resources up by... 

Randgold commissions sulphide circuit at DRC flagship

By: Henry Lazenby Gold miner Randgold Resources has started commissioning of the sulphide circuit at the Kibali gold mine, in the Democratic Republic of Congo (DRC). Kibali started production from its openpit through its oxide circuit last September and completing the sulphide circuit would significantly advance... 

South Sudan is medium-term frontier of choice for Randgold - CEO

By: Reuters Africa-focused bullion producer Randgold Resources says South Sudan is its first choice as a country to explore and mine for gold, with CEO Mark Bristow estimating that the conflict there will be over in four to five years. Since secession from Sudan in 2011, the country had been wracked by a... 

Crunch time for gold mining industry

By: Kim Cloete Industry leaders have said the tumble in the gold price, as well as concerns about the regulatory environment and tax regimes in gold-producing countries in Africa, have cranked up the pressure over the past year. “After ten years of a bull market, the gold price dropped 17% last year, leaving... 

Africa’s mining countries must try harder – Bristow

By: Henry Lazenby Growing uncertainty about the regulatory environments and tax regimes in Africa’s mining jurisdictions was discouraging international investment in these countries’ mining industries, LSE- and Nasdaq-listed Randgold Resources CEO Mark Bristow said in a press release on Tuesday, released after he... 

Randgold reports stellar performance, poised for 'step-up' in 2014

By: Natasha Odendaal Randgold Resources has emerged out of what CEO Mark Bristow termed one of the company’s “best years” and was poised for “another big production step-up” in 2014. Randgold Resources reported record-level gold production of nearly one-million ounces, while reducing the total cash cost to $715/oz... 

Randgold appoints new chairperson, ITH strengthens board

By: Henry Lazenby Africa-focused gold project developer and miner Randgold Resources on Friday announced that chairperson Philippe Lietard would step down at the company’s next annual general meeting after serving in the position for ten-years, and would be succeeded by Christopher Coleman, an independent... 

Randgold Loulo-Gounkoto complex likely to beat revised 2013 production target

By: Leandi Kolver LSE- and Nasdaq-listed Randgold Resources’ Loulo-Gounkoto gold mining complex, in Mali, would likely beat its revised production target for 2013 of 560 000 oz, CEO Mark Bristow said on Wednesday, adding that the complex’s guidance for 2014 would remain at 640 000 oz. Loulo-Gounkoto, which... 

Flotation process expansion needed to reach targeted Tongon production

By: Leandi Kolver While efficiency enhancement projects at Aim-listed Randgold Resources’ Tongon operation, in Côte d'Ivoire, had increased the mine’s production, the company was still struggling to reach a recovery rate of 80% for the year, CEO Mark Bristow said on Sunday. He said an additional 2% improvement... 

Randgold’s Kibali mine aces first operating quarter

By: Henry Lazenby The Democratic Republic of Congo-based Kibali gold mine, which last month completed its first operating quarter, has more than met the objectives set for it at the time of its acquisition in September 2009, Africa-focused miner Randgold Resources CEO Mark Bristow said on Monday. Bristow said... 

Kibali will succeed with continued cooperation from all stakeholders, says Bristow

By: Pimani Baloyi Nurturing the positive relations that have already been established among all relevant stakeholders of Africa-focused mining company Randgold Resource’s Kibali gold mining project, in the Democratic Republic of Congo (DRC), is the next step in maintaining the mine’s current success, says Randgold... 

Randgold Resources’ Kibali mine could turn DRC’s Orientale into the next Katanga

By: Pimani Baloyi Newly established gold mining project Kibali – a standalone investment by mining major Randgold Resources – situated in the Democratic Republic of Congo’s (DRC’s) Orientale province – has the potential to significantly boost the local economy, says strategy and communications consulting firm... 

Randgold replacing quality ounces, with quality ounces 

By: Henry Lazenby One of the most critical elements the global gold mining industry is not getting right is replacing mined ‘quality ounces’ with the same quality ounces, which is one of the simplest ways to keep operating costs low and maintain margins, Africa-focused Randgold Resources CEO Mark Bristow told a... 

Randgold profit up 80% despite 3% drop in gold price

By: Leandi Kolver Africa-focused miner Randgold Resources’ profit increased by 80% quarter-on-quarter to $97.5-million during the three months ended September, despite a 3% drop in the average gold price, owing to strong performance at its flagship Loulo-Gounkoto complex in Mali. However, the drop in the average... 

Côte d'Ivoire has enormous gold exploration potential – Bristow

By: Natasha Odendaal Despite facing its own drawn-out battles in establishing a sustainable mining operation in Côte d'Ivoire, Randgold Resources CEO Mark Bristow believes the West African country has the potential to become one of sub-Saharan Africa's key exploration destinations. The West African country was... 

Kibali start-up could signal long-term value creation in DRC 

By: Henry Lazenby LSE- and Nasdaq-listed Randgold Resources on Thursday said the new Kibali gold mine, which started production last month, could be the catalyst for substantial long-term value creation in the Democratic Republic of Congo (DRC) if it was handled correctly by all its stakeholders. Randgold CEO... 

Kibali pours first gold ahead of schedule

By: Henry Lazenby The giant Kibali gold project, in the Democratic Republic of Congo (DRC), has successfully started production ahead of its original year-end target and is still in line with capital forecasts, part-owner Randgold Resources CEO Mark Bristow said ahead of addressing the Denver Gold Forum on... 

Randgold H1 profit falls on weak gold price

By: Natasha Odendaal LSE- and Nasdaq-listed Randgold Resources maintained profitability – albeit at lower levels – during the first half of the year despite a downturn in the gold price. The group on Wednesday reported that its first-half profit of $135.7-million – a decline from the $245.8-million recorded during... 

Mining giant executive director retires

Mining giant AngloGold Ashanti reports that Tony O’Neill, who served as an executive director on the company’s board of directors, has taken early retirement, also relinquishing his position at the company as business and technical development executive VP. O’Neill assisted the gold miner in... 

Randgold positively positioned in Mali – Bristow

By: Natasha Odendaal Despite the downturn in the gold price that has plunged much of the gold mining industry into crisis, London-listed Randgold Resources believed it could maintain its positive position in Mali. CEO Mark Bristow said its development of the Morila operation, which had delivered in excess of... 

Tongon springboard for Randgold's further Côte d'Ivoire exploration

By: Natalie Greve Despite the prevalence of uncertainty around Côte d'Ivoire’s mining code, Randgold Resources CE Mark Bristow has said that the company remains committed to working with that country’s government to build a sustainable mining industry and will use its Tongon operation as a platform from which to... 

Randgold’s giant DRC project prepares to pour first gold

By: Henry Lazenby Africa-focused Randgold Resources is preparing for the first gold pour at its Kibali project, in the Democratic Republic of Congo (DRC). Randgold said the project had advanced to the immediate preproduction development stage and more than a million tonnes of ore from the openpit mine had already... 

Bristow calls for cooperation between govts, miners amid tumbling gold price 

By: Idéle Esterhuizen The falling gold price in recent months has emphasised the need for governments of mineral-rich countries to cooperate with mining companies in the optimal development of their resources, Randgold Resources CEO Mark Bristow has urged. At the end of June, the gold price plummeted to $1 180, its... 

Randgold secures ‘attractive’ $200m revolving loan

By: Natalie Greve London- and Nasdaq-listed Randgold Resources has entered into an unsecured $200-million revolving credit facility with bankers HSBC, Barclays, Citibank and Standard Chartered, for “general corporate purposes”. HSBC acted as the sole bookrunner on the facility with the other banks acting as... 

Randgold cuts capital spend on weak gold price, performance

By: Henry Lazenby London- and Nasdaq-listed Randgold Resources on Thursday said it would cut its capital spending and reduce production from its Loulo-Gounkoto complex, in Mali, as it too was negotiating the effects of a sharply lower gold price, and a weaker first-quarter performance. Randgold said a planned... 

Randgold ‘rapidly advancing’ growth projects – Bristow

By: Idéle Esterhuizen Africa-focused miner Randgold Resources is rapidly advancing its further growth projects and examining new joint-venture opportunities, CE Mark Bristow said on Thursday. At the release of the company’s 2012 annual report, he emphasised that Randgold’s top priority would be to pour first gold at... 

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