Randgold – Loulo production guidance revised

Randgold Resources (LSE: RRS) reported that the company has revised the production guidance for its Loulo gold mine in Mali downwards following a difficult quarter in which processing throughput was affected by a series of power outages that exacerbated the impact of downtime resulting from the bedding down of the Loulo plant expansion project.

The press release is quoted as saying:

The company said Loulo’s output for 2010 would still be within 5 to 10% of the original forecast of 400 000 ounces and that the mine’s processing throughput was expected to be back at the planned level by the fourth quarter of this year. The reduced contribution from Loulo will be partially offset by the company’s new Tongon mine in Cote d’Ivoire, which is expected to start commissioning ahead of schedule in September.

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