New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 26, 2012
14:53 EDTGOLDRandgold Resources reports fire at Tongon plant, revises Tongon guidance
Randgold Resources reported production at its Tongon gold mine in Cote d'Ivoire had been impacted by a fire in the mill section. The fire started on December 24 during a planned shutdown for repairs to the No 1 mill cyclone feed pipe. The fire then spread upwards into the No 1 cyclone cluster and moved to the No 2 cyclone cluster. The company said the fire has been fully extinguished and no injuries have been reported but both cyclone clusters, flotation cells and blowers along with associated infrastructure for both milling circuits suffered damage. The full extent of the damage was still being assessed but the mills themselves have been unaffected and the mine had already started to make short term repairs including temporary relining of the various pieces of equipment whilst sourcing replacement parts. Tongon aims to have both milling circuits operational again within ten days. Randgold said the fire would further impact on a difficult year for Tongon and that the revised annual production for that operation was now expected to be approximately 208,000 ounces. Randgold also said its Loulo complex was on track to achieve its full year guidance of 500,000 ounces and Morila would comfortably exceed its guidance at 200,000 ounces.
News For GOLD From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for GOLD

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use