The miner slid the most in four years after reporting first-quarter gold production fell 11% due to operational problems at Kibali and Tongon mines.
Ivory Coast Mining News
Energy supply issues also hurt equipment at the miner's Tongon gold operation in the first three months of this year.
Randgold Resources’ annual resource and reserve declaration, shows attributable measured and indicated resources steady at 21.1 million ounces while inferred resources are marginally up to 6.7 million ounces.
The world’s third-largest gold producer returned to profit in the fourth quarter, did not manage to avert posting a net loss for 2015.
The firm also said it would continue to invest in exploration, which remains the engine that drives its business.
Randgold Resources has expanded its operations in Congo following the success of the Kibali gold mine, which will lead to the miner exceeding its full year production guidance for the mine in 2015.
The company said it believed that the Obuasi mine does not meet its criteria for making an investment.
The firm, debt-free despite current market conditions, mined a record 305,288 ounces in the third quarter, up from 299,320 a year earlier.
The mine produced 526,627 ounces in its first full year of operation in 2014, and was expected to yield 600,000 ounces this year.
Under the agreement with AngloGold, Randgold will lead and fund a development plan to rebuild the Obuasi gold mine in Ghana.
The Africa-focused gold producer saw its first-quarter profit fall16% due mainly to lower bullion prices and reduced production.
The mine's management made significant progress in dealing with the recovery and throughput challenges that had hampered the operation in its early stages.
CEO Mark Bristow said the current squeeze on the gold sector has created growth opportunities.
Mark Bristow called gold mining companies to keep a balance when satisfying shareholders and stakeholders.
The company is confident in the precious metal it mines.
Amara Mining will invest $400 million over the next two years to build one of Africa's largest gold mines at its Yaoure property in Ivory Coast with production due to start in 2017.
Output falls 19% at $2.5 billion DRC mine.
CEO Mark Bristow, who is hoping for one last major find before retiring.
Government says diamond trade is no longer a threat to fuel instability as civil war has ended and the Kimberley Process has backed the lifting of the embargo.
Officials from Sierra Leone, Ivory Coast, Guinea and Liberia are meeting in London this week.
Gold miner Randgold Resources (NASDAQ:GOLD, LON:RRS)) cut its production guidance for its Tongon mine in Ivory Coast after a fire in the mill section of a plant.
Ivory Coast plans a windfall tax of 19 per cent on gold mine profits to share in the benefits from soaring world prices for the metal.
But South Africa's output continues to fall says the Economics Group’s.
Newcrest Mining (ASX:NCM) is the one Australian mining major exposed to the greatest level of country risk with 63% of its assets situated in nation-states categorized as 'very high-risk' by analysts.
Endeavour's Agbaou gold project enters construction with planned 103,000 ozs/yr at $635/oz cash cost
The Agbaou project in Côte d'Ivoire has entered the construction phase of development. The open pit mine is expected to produce 103,000 ounces of gold per year over 8 years