|By Marketwired .||
|January 29, 2014 02:16 AM EST||
JERSEY, CHANNEL ISLANDS -- (Marketwired) -- 01/29/14 -- Randgold Resources Limited (LSE: RRS) (NASDAQ: GOLD)
TSX: GOLD; LSE: RRS RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS NASDAQ Trading Symbol: GOLD WINNING TEAM DRIVES RANDGOLD FLAGSHIP'S PERFORMANCE TO NEW HEIGHTS Loulo, Mali, 29 January 2014 - A strong management team, consisting almost entirely of Malian nationals, is driving continuing performance improvements at Randgold Resources' Loulo-Gounkoto gold mining complex, chief executive Mark Bristow said today. Speaking at a briefing for international investors and local media, ahead of Randgold's year-end board meeting which will be held at the complex, Bristow said the team was delivering on all its operational objectives, on the back of higher grades and a range of efficiency enhancement projects which were improving throughput and recoveries. He said the complex was likely to beat its revised production target for 2013 and confirmed that the guidance for 2014 would remain at 640 000 ounces. "We expect gold production to keep rising while costs should start coming down. This trend should be accelerated by other new projects, including the paste backfill plant which, when completed, will unlock substantial mineable reserves underground and cut capital costs by reducing the required development rate," he said. The complex comprises three world-class orebodies and ranks as one of the largest of its kind in Africa. Its three mines - two underground and one open pit and a plant which processes 4.4 million tonnes of ore per year, are managed by a combined Loulo-Gounkoto team. Samba Toure, the general manager for Randgold's West African operations, said the proven effectiveness of this team was a tribute to Randgold's policy of employing and developing host country nationals at all levels of the business. Paul Harbidge, Randgold's group exploration executive, said while Loulo-Gounkoto was still expanding its gold production, the company's exploration teams were continuing to hunt for additional ounces around the existing orebodies as well as further world-class deposits. "We believe this region has a high potential for the discovery of more multi-million ounce gold deposits. A study into the feasibility of accessing the orebody underneath the Gounkoto pit is also well advanced," he said. Click on, or paste the following link into your web browser, to view the associated PDF document: http://www.rns-pdf.londonstockexchange.com/rns/7593Y_1-2014-1-29.pdf This information is provided by RNS The company news service from the London Stock Exchange END
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