[miningmx.com] — GOLD miner, Randgold Resources, on Monday revised the production guidance for its Loulo gold mine in Mali downwards following “a difficult quarter”.
The company said Loulo’s output for 2010 would still be within 5 to 10% of the original forecast of 400,000 ounces and that the mine’s processing throughput was expected to be back at the planned level by the fourth quarter of this year.
The company said during the quarter, processing throughput was affected by a series of power outages that exacerbated the impact of downtime resulting from the bedding down of the Loulo plant expansion project.
The reduced contribution from Loulo will be partially offset by the company’s new Tongon mine in Cote d’Ivoire, which is expected to start commissioning ahead of schedule in September.
Further details as well as a new group production guidance for 2010 will be provided when the company reports on its second quarter results on Thursday 5 August, it said.
