The firm also said it would continue to invest in exploration, which remains the engine that drives its business.
Ivory Coast Mining News
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
Endeavour Mining reports Q4 and full year 2011 gold production and 2012 guidance for production, development and exploration
Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV, ASX:EVR) is pleased to announce it met 2011 production targets with Q4 gold production of 24,010 ounces from its Nzema operations in Ghana and 21,586 ounces from its Youga operations in Burkina Faso. Total annual production for 2011 was 177,290 ounces of gold at a cash cost per ounce of $614 (excluding royalties), comprised of 90,026 ounces from Nzema and 87,264 ounces from Youga
Shares of Randgold Resources, a pure-play gold mining company focused on west and central Africa, soared 7.4% Wednesday after announcing third quarter production increased 80% and sales jumped to $309.6 million from only $116.3 a year ago. Despite a once-off drop in gold sales from the previous quarter following instability at its Tongon mine in the Ivory Coast where it has been producing for one year and what it described as once in a century rainfall at its Loulo/Gounkoto operations in Mali, third-quarter income increased more than four-fold to $106.8 million.
The Ivory Coast’s gold production capacity will almost double to 13t a year by 2013, from its current annual output of 7t, according to the country’s energy and mines minister Adama Toungara. “We will be able to reach 13tpa by 2013 and 20tpa by
Newcrest Mining , one of the world's biggest listed gold miners, expects to resume gold production at its Bonikro mine in the Ivory Coast after a stabilisation of political and security situation in the country, it said on Tuesday. The miner said the production impact had been around 8,000 ounces of gold per month. Newcrest suspended operations at Bonikro in late March.