HomeGoldSurge in Randgold production

Surge in Randgold production

Randgold’s Loulo
mine in Mali
London, England — MININGREVIEW.COM — 01 December 2010 – International gold mining and exploration company Randgold Resources Limited “’ which focuses its operations mainly on West Africa “’ says it expects output to surge more than 75% in the fourth quarter of 2010.

“This quarter is going to be a much better quarter than the last one,” said chief executive Mark Bristow on the sidelines of the Mines and Money conference here.

He pointed out that the rise in production would be led by significantly higher gold grades from the company’s Loulo mine in Mali, and the recent start of production from the Tongon project in the Ivory Coast.

Reuters reports that the FTSE-100 company produced 101 468 gold ounces in the third quarter.

“We anticipate around a 50% increase in overall production in 2011 compared with this year,” finance director Graham Shuttleworth told Reuters.

Bristow said output from Loulo was expected to grow by about 100 000 ounces in 2011.