Power snags putting Tongon production target at risk – Randgold
JOHANNESBURG (miningweekly.com) – The instability of electricity supply from the national grid in Côte d’Ivoire is negatively impacting the cost structure of Randgold’s Tongon gold mine and placing its production target at risk.
Tongon, owned 89% by Randgold, 10% by the State of Côte d’lvoire and 1% by a local company, is targeting production of 290 000 oz in 2016.
“But there are still significant challenges in its way. Chief among these is the continued instability of the grid power supply, which has a major impact on the mine’s cost structure,” Randgold CEO Dr Mark Bristow said on Monday, adding that the Tongon team was in discussion with the Ivorian power utility to resolve the problem.
The mine, located within the Nielle exploration permit in the north of Côte d’lvoire, 55 km south of the border with Mali, has commissioned its fourth-stage crushing circuit, which completed an extensive capital project that was designed to improve throughput and recovery.
Last year, gold production from the mine rose 7% to 242 948 oz after the flotation upgrade and crushing circuit extension programme started delivering results.
Exploration is under way to extend the seven-year life-of-mine of Tongon’s two opencast operations, the latest drilling results indicating the potential for additional reserves and resources within and below the existing openpits.
It was announced at the weekend that the London-listed Randgold would be contributing $50 000 a year for three years to Côte d’Ivoire’s first golf academy, where an initial 100 underprivileged children will receive education bursaries and be developed as golfers.
Randgold is scheduled to announce its first-quarter results on Wednesday May 4.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOMDeveloped to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
