{"id":461566,"date":"2018-02-05T16:00:18","date_gmt":"2018-02-05T16:00:18","guid":{"rendered":"https:\/\/ghana-mma.com\/2018\/02\/05\/randgold-hits-record-1-315million-ounces\/"},"modified":"2018-02-05T16:00:18","modified_gmt":"2018-02-05T16:00:18","slug":"randgold-hits-record-1-315million-ounces","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2018\/02\/05\/randgold-hits-record-1-315million-ounces\/","title":{"rendered":"Randgold hits record 1.315million ounces"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Monday,  5 February 2018<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>classfmonline.com<\/p>\n<p>2018-02-05<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/01\/69614067.295.jpg\" alt=\"Gold Bars  \" title=\"Gold Bars  \" width=\"295\" height=\"157\" \/><span class=\"image_caption\"><span>Randgold Resources has increased its gold production in 2017 output by 5%<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125813973067\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125813973067\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/02\/1517846418_259_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\">For the seventh consecutive year, Randgold Resources has increased its gold production in 2017, boosting output by 5% to 1.315 million ounces, ahead of its guidance, while shrinking total cash cost per ounce by 3% to $620.<\/p>\n<p>Results for the year, published today, Monday, 5 February show profit up 14% at $335 million and net cash increasing by 39% to $720 million, with no debt.<\/p>\n<p>The board has proposed a dividend of $2.00 per share, double that of 2016, for shareholders\u2019 approval.<\/p>\n<p>Chief executive Mark Bristow said the strong performance was led by Randgold\u2019s flagship, the Loulo-Gounkoto complex in Mali, and supported by an across-the-board delivery from its other operations, Morila in Mali, Tongon in C\u00f4te d\u2019Ivoire and Kibali in the Democratic Republic of Congo.<\/p>\n<p>The highlight of the year was the successful commissioning of Kibali\u2019s underground mine. Aside from its third hydropower station, scheduled to come on stream mid-year, this completes the development of Kibali into one of the world\u2019s largest gold mines and brings to an end its eight-year capital investment programme. The underground mine is one of the most mechanised in Africa, with features including a fully automated underground ore handling system.<\/p>\n<p>For 2018, Randgold is forecasting production of between 1.30 and 1.35 million ounces at a total cash cost per ounce in the range of $590 to $640, taking into account the effect of the current increases in the oil price and the euro:dollar exchange rate.<\/p>\n<p>\u201cBeyond that, our 10-year business plan is designed to increase net cash flows to support dividend and value growth and maintain Randgold\u2019s position as a global industry leader in sustainable profitability,\u201d Bristow said.<\/p>\n<p>Randgold is also well placed to achieve its goal of developing three new projects in the next five years, with a production decision on the Massawa project due later this year, he said. Brownfields exploration around its existing mines continues to show potential to replenish depleted reserves while the greenfields programmes are identifying new high-potential targets across its extensive holdings in West and Central Africa.<\/p>\n<p><!-- uploaded by: 55 updated by: -1 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Monday, 5 February 2018 Source: classfmonline.com 2018-02-05 Randgold Resources has increased its gold production in 2017 output by 5% For the seventh consecutive year, Randgold Resources has increased its gold production in 2017, boosting output by 5% to 1.315 million ounces, ahead of its guidance, while shrinking total cash cost per ounce [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":459031,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-461566","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/461566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/comments?post=461566"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/461566\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/media?parent=461566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/categories?post=461566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/tags?post=461566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}