24th Sep 2013 13:23
LONDON (Alliance News) - Randgold Resources Ltd Tuesday said it has successfully started production at its Kibali Gold Project, well ahead of schedule.
The Africa-focused mining company said it has started production at the Democratic Republic of Congo site well ahead of its original year-end target and but hadn't spent any extra capital than it had forecast.
Thanks to the early start-up, the company expects to exceed its production target of 30,000 ounces of gold for the rest of the year and said it is on track to meet next year's forecast of 550,000 ounces.
Randgold Resources shares were down 2.5% to 4,509 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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