Share

Randgold Q1 hit by lower sales

London - Africa-focused Randgold Resources posted a more than 20% drop in profit on Thursday, hit in the first three months by a reduced contribution from its Loulo-Gounkoto mine in Mali, lower prices and ounces of gold left unsold.

The group said its basic earnings per share dropped 20% from a year ago to 76 US cents. The drop from the previous quarter was 42%. Profit for the three months dropped to $81.6m.

Randgold's shares have fallen around 4% since a historic drop in the price of gold in mid-April, when bullion experienced its biggest single-day price drop in thirty years.

The company, which has mines in Mali and Ivory Coast, said it had reviewed all operations after the drop in the gold price. At Loulo-Gounkoto that has meant a change in the mine plan to reduce spending, trimming anticipated production for the year. 



We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.96
-0.1%
Rand - Pound
23.92
-0.1%
Rand - Euro
20.43
+0.0%
Rand - Aus dollar
12.35
-0.0%
Rand - Yen
0.13
-0.1%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders