Tongon mine output to near FY guidance despite efficiency losses
JOHANNESBURG (miningweekly.com) – The remedial measures implemented to overcome the technical problems that have impacted the Tongon mine, in Côte d'lvoire, were starting to produce the desired results, with the mine's performance improving, Randgold Resources CEO Mark Bristow said on Monday.
In a media release following a briefing with Côte d'lvoire media, he indicated that mill throughput and the recovery rate – the two chief challenges faced by the operation – were both improving as a result of a “determined effort” by the Tongon management team.
Their action plan included the replacement of the faulty crushers, with the new crushers currently being integrated into the larger circuit, as well as the expansion of the flotation circuit, which would start when the necessary equipment arrived on site next month.
“By early next year, Tongon should have achieved its targeted performance levels, but the improvement is already evident and, despite the setbacks and challenges the management team has had to contend with, the mine should come within 10% of its production guidance of 260 000 oz for 2014, with costs well contained,” Bristow outlined.
In the meantime, he said, infill drilling at the mine's south pit had confirmed the potential for increasing the resource and the mineable reserve to replace ounces depleted during the year.
Elsewhere in Côte d'Ivoire, Randgold had acquired two new permits, while more were pending.
Owing largely to the confidence inspired by the country's new mining code, Bristow said the group would be stepping up its investment in exploration in the country.
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