Production at Randgold Resources’ Tongon mine in the Ivory Coast is returning to normal following a plant fire three weeks ago and should be operational in another two, according to company officials.
Despite damage to two mill circuits and other setbacks throughout the year—including an election crisis and power outages—the South African-owned mine managed to produce 210,000 oz of gold in 2012, said Randgold CEO Mark Bristow.
It was, he added, a testament to how Tongon exemplified Randgold’s vision and tenacity. “We invested not only in a mine but in this country,” Bristow told reporters in Abidjan. “We are exploring elsewhere and hope to discover further multi-million ounce gold deposits and, with the help of the government, to develop these into world-class mines.”
Randgold’s partnerships with host countries and equal value sharing have been key to its sustainable success in Africa, noted Bristow. “It is for this reason that we encourage governments to promulgate attractive mining codes for investors through competitive and stable tax regimes,” he added.