SOURCE: Randgold Resources

April 25, 2016 05:45 ET

Randgold Resources Limited: Production up as Tongon continues to progress

JERSEY, CHANNEL ISLANDS--(Marketwired - Apr 25, 2016) - Randgold Resources Limited (LSE: RRS) (NASDAQ: GOLD)

Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD


Tongon, Côte d'Ivoire, Monday 25 April 2016 - Randgold's Tongon gold mine has commissioned its fourth-stage crushing circuit, completing an extensive capital project designed to improve throughput and recovery. The new circuit is currently being optimised.

Announcing this at a local media briefing today, chief executive Mark Bristow said Tongon was continuing to make headway in its drive to overcome technical issues, with gold production up 7% to 242 948 ounces in 2015 as the flotation upgrade and crushing circuit extension programme started delivering results.

"Tongon is targeting annual production of 290 000 ounces in 2016 but there are still significant challenges in its way. Chief among these is the continued instability of the grid power supply, which has a major impact on the mine's cost structure. The Tongon team is in discussion with the Ivorian power utility to resolve this problem," he said.

Bristow noted that despite a high level of activity, Tongon was maintaining its excellent safety record, reaching 3.7 million lost-time injury-free hours in 2015. It had also retained its OHSAS 18001 and ISO 14001 certifications.

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