Flagship Loulo-Gounkoto Steps Up Production
JERSEY, CHANNEL ISLANDS / ACCESSWIRE / October 30, 2018 / (LSE: RRS NASDAQ: GOLD) Randgold Resources’ Loulo-Gounkoto gold mining complex in Mali is stepping up production following the start of the pushback at Gounkoto’s new super pit with increased grades expected in the third and fourth quarter of the year.
Briefing local media here today, chief executive Mark Bristow said that, as guided, the complex’s production profile was weighted towards the back half of the year because of the big pushback’s impact in the first two quarters. It was now getting back to its normal run rate and there has been an increase in production in the third quarter.
Also at the briefing, Chiaka Berthe, GM operations for West Africa, said brownfields exploration on the orebody extensions was confirming the potential for the complex to keep replacing depleted reserves with ounces of the same quality.
“Loulo-Gounkoto is one of the largest operations of its kind in the world and has been a pillar of the Malian economy since Loulo went into production in 2005. The latest exploration results show that its life is likely to extend beyond the current 10-year horizon,” he said.
Further afield, the greenfields exploration team continues to build out targets to the north and south of the Loulo-Gounkoto structures along a 70 kilometre strike in one of the world’s most prolific gold regions.
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SOURCE: Randgold Resources Limited