Randgold to pursue more opportunities in Côte d'Ivoire

JOHANNESBURG (miningweekly.com) – Africa-focused gold miner Randgold Resources will continue to explore gold opportunities in Côte d'Ivoire.

Speaking at a Randgold-sponsored golf event in the West African country at the weekend, CEO Mark Bristow noted that the country held exciting possibilities for further investment and that the dual-listed miner would focus on building a solid portfolio of targets. “We are still adding new exploration permits. We've always believed in the prospectivity of Côte d'Ivoire and we are becoming increasingly confident that it will deliver our next world-class discovery,” he stated.

Bristow further highlighted Randgold’s Boundiali permit, which hosts “some very exciting” prospects, while revealing that the company would extend its flagship Tongon gold mine, with near-mine exploration aimed at developing satellite deposits and converting the resource potential below the existing pits.

In the meantime, Tongon's performance continues to improve across the board, with management still targeting the revised yearly guidance for the year after a difficult first half, which was impacted on by a long mill breakdown.

"The final phase of the extensive crusher expansion and mill circuit upgrade project has been completed and is paying off in terms of a significant step-up in operational efficiency," noted Bristow.

He added that constructive engagement with the CIE power utility, facilitated by the government, had improved the stability of the grid electricity supply.

In addition, Tongon is investing in the expansion of its generated power facilities with the installation of six new generators, which will boost capacity to 24 MW, enough to operate the whole process plant on generated power if necessary.

Randgold’s sponsored golf event was attended by pupils from the country’s recently established golf academy, a joint initiative between the company and Côte d'Ivoire-based sports promotion business Team STL.

The academy aims to provide talented by underprivileged children with a first-rate academic education, in addition to golf training.

Bristow noted that the academy was another example of the company’s long-term engagement with Côte d'Ivoire and its commitment to developing human capital and natural resources for the benefit of all stakeholders.