Production resumes at Randgold Resources' Tongon mine

Production at Cote D'Ivore-based Randgold Resources' Tongon mine has returned to normal after a fire in the mills section of the plant three weeks ago, an announcement from the company issued on Monday morning showed.

Production at Cote D'Ivore-based Randgold Resources' Tongon mine has returned to normal after a fire in the mills section of the plant three weeks ago, an announcement from the company issued on Monday morning showed.

Both mill circuits are expected to be fully operational within two weeks.

Randgold Chief Executive Officer Mark Bristow, commented: "Tongon represents the biggest single investment to date in this part of Cte d'Ivoire, and when we made that investment, we invested not only in a mine but in this country.

"We are currently exploring our extensive tenements elsewhere in Cte d'Ivoire and we hope to discover further multi-million ounce gold deposits here and, with the support of the government, to develop these into world-class mines."

Despite a series of setbacks, the mine produced 210,000 ounces of gold in 2012.

The mine's development was given the go-ahead at a time of political volatility in Cte d'Ivoire, having been commissioned in a climate of confusion created by the disputed presidential election.

MF

Recommended

Marks & Spencer shares look cheap – should you buy in?
Retail stocks

Marks & Spencer shares look cheap – should you buy in?

Marks & Spencer shares have been a disappointment for investors for two decades. But with the company now on something of a comeback, Rupert Hargreave…
25 May 2022
The Federal Reserve wants markets to fall – here’s what that means for investors
Stockmarkets

The Federal Reserve wants markets to fall – here’s what that means for investors

The Federal Reserve’s primary mandate is to keep inflation down, and lower asset prices help with that. So, asks Dominic Frisby – just how low will st…
25 May 2022
Four high-quality US stocks to give shelter from the storm
Share tips

Four high-quality US stocks to give shelter from the storm

Professional investor Timothy Parton of the JPMorgan American Investment Trust picks four solid US stocks to buy now.
24 May 2022
Three undervalued mid-cap stocks with attractive prospects
Share tips

Three undervalued mid-cap stocks with attractive prospects

Professional investor Katen Patel of the JPMorgan Mid Cap Investment Trust picks three fast-growing mid-cap stocks to buy now.
24 May 2022

Most Popular

The world’s hottest housing markets are faltering – is the UK next?
House prices

The world’s hottest housing markets are faltering – is the UK next?

As interest rates rise, house prices in the world’s most overpriced markets are starting to fall. The UK’s turn will come, says John Stepek. But will …
23 May 2022
The Federal Reserve wants markets to fall – here’s what that means for investors
Stockmarkets

The Federal Reserve wants markets to fall – here’s what that means for investors

The Federal Reserve’s primary mandate is to keep inflation down, and lower asset prices help with that. So, asks Dominic Frisby – just how low will st…
25 May 2022
Should you be worried about energy windfall tax proposals?
Energy

Should you be worried about energy windfall tax proposals?

Calls have been growing for a windfall tax on UK oil and gas producers. It's a popular idea, but is it a good one? And what does it mean for investors…
24 May 2022