[miningmx.com] — RANDGOLD Resources posted a jump in third-quarter profit from the year earlier on an 80% surge in gold production and higher metal prices.
Profit surged to $122.9m from $28.2m in the year-earlier quarter. However, profit dipped 4 percent from the second quarter when the company had sold gold from its Ivory Coast mine that had been delayed due to unrest in the country.
In August, Randgold lowered its 2011 production guidance to 740,000 to 760,000 ounces from 750,000 to 790,000 ounces after abnormal rainfall hit production at its Loulo/Gounkoto mining complex in Mali.
Randgold is the only pure gold producer in the FTSE 100, although Russian gold miners Polymetal and Polyus Gold are planning to join it there, further raising the influence of resources stocks in the index.
