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Randgold cuts Tongon output target

Dec 27 2012 09:45 Reuters

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Randgold cuts 2011 output target

 

Ivory Coast  - Miner Randgold Resources said production at its Tongon gold mine in Ivory Cost was hit by a fire in the mill section and it now expects annual output of about 208,000 ounces from the mine.

Africa-focused Randgold said the fire started on December 24 during a planned shutdown for repairs.

The miner launched operations at Tongon last October, with annual output of 280,000 to 300,000 ounces expected over the next five years.

Chief Executive Mark Bristow said the full extent of the damage was being assessed.

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