Randgold Resources Cuts Production Estimate For Ivory Cost Mine

by
Reuters
Miner Randgold Resources Plc said production at its Tongon gold mine in Ivory Cost was hit by a fire in the mill section and it now expects annual output of about 208,000 ounces from the mine.

gold

Miner Randgold Resources Plc said production at its Tongon gold mine in Ivory Cost was hit by a fire in the mill section and it now expects annual output of about 208,000 ounces from the mine.

Africa-focused Randgold said the fire started on Dec. 24 during a planned shutdown for repairs.

The miner launched operations at Tongon last October, with annual output of 280,000 to 300,000 ounces expected over the next five years.

Chief Executive Mark Bristow said the full extent of the damage was being assessed.