Skip to main content

Ivory Coast's crises hit mine production

Shares in Randgold Resources have fallen 4% after the mining company warned political tension in the Ivory Coast would hit its gold production.

Randgold said its Tongon mine was operating, but on a "curtailed basis".

At least 173 people have been killed in the Ivory Coast following last month's disputed election.

Randgold now expects to produce about 35,000 ounces of gold this year.
 
A second mill had been delayed because delivery of components had been held up in the Abidjan port and by shipping delays caused by the political crisis.

The company also said its fourth-quarter performance would be affected by a "below-target" contribution from its Loulo complex in Mali.

"We knew that 2010 was going to be a challenging year and the fourth quarter is turning out to be even tougher than anticipated," chief executive Mark Bristow said.

Randgold shares fell 235p to 5,320p in morning trading.
Labels:

Comments

Post a Comment

Popular posts from this blog

Bangladesh Stock Market loses BDT 850 Billion

A total of Tk 85,000 crore have been channeled out through the Bangladesh Share Market within the last 30 working days, sources said. The General Index was 8918 points on December 5, 2010 and it labelled down at 6312 point on January 20, 2011.  The amount siphoned off during the last six month specially was very preplanned sources added. Total market capital was Tk 3,68,000 Crore (Tk 3680 Billion) on December 5, 2010 which now collapsed to Tk 2,83,000 Crore (Tk 2830 Billion) on January 20, 2011. Total Capital reduces of Tk 85,000 Crore (850 Billion), which amount is channeled out by the Market Makers in the last one month, sources said. 
1 comment
Read more

Sudan's President Omar supports for new Independent South

Sudan's President Omar Hassan al-Bashir on Tuesday pledged support for a new southern state in his first public address since the south of the country voted overwhelmingly to split from the north. Early results from this month's referendum indicate almost 99 percent of southerners voted to secede after decades of civil war which claimed 2 million lives and destabilized much of east Africa. Bashir had campaigned for unity and many feared the north would not let the oil-producing south go without a fight. "Secession has become a reality -- 99 percent of southerners chose separation but we will not be sad ... we will go to the south and celebrate with them," Bashir told supporters during a visit to the northern River Nile state. "We will support the new southern state and will hold onto its stability because we are neighbors and will remain friends," he added. While oil was a factor behind the north-south war which ended with a wealth and power-sharing agr...
Post a Comment
Read more