Drive to Resolve Industrial Action at Tongon
Jersey, Channel Islands (FSCwire) - Randgold Resources said today intermittent industrial action by the workforce of its mining subcontractor was having some impact on operations at its Tongon gold mine.
The subcontractor has been negotiating with its workforce to achieve a resolution and Tongon management as well as Randgold executives are also engaging with the country’s minister of mines, senior government and elected officials and local authorities, who are assisting with the negotiation.
Tongon is currently processing ore from the run-of-mine and scats stockpiles but management said the operation was lagging its production forecast. Randgold chief executive Mark Bristow said that with the assistance of the authorities, the operations were expected to get back to full capacity and the challenge was going to be recovering the lost production. The mine has taken the opportunity to upgrade the second mill motor and mill discharge grate system which is expected to ensure higher and more consistent throughput, that would help to recover some of the lost production. He confirmed that Randgold’s group outlook for 2018 remained within guidance.
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Source: Randgold Resources Ltd. (LSE:RRS, NASDAQ:GOLD, OTC Pink:RGORF, FWB:RGR1)
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