(Ecofin Agency) - Randgold Resources presented its Q1 2018’s balance sheet, revealing that the company has lost about $22 million (around CFA12 billion) at its Tongon gold mine in Côte d’Ivoire. According to the company’s CEO Mark Bristow (photo), the mine’s output dropped during the period under review due to several work stoppages that began with the mining contractor's employees and then spread to other operations. Supported by the mine ministry, regional authorities and local elected officials, the company opened negotiations with workers' representatives. In this vein, a MoU has been signed and the issue will soon be addressed. Randgold Resources indicated in a statement that “Despite the losses that will impact the mine’s production guidance of 290,000 ounces for 2018, the company has vowed to recover most of its lost output” as operations resumed at full capacity. Let’s note that the company employs over 1,700 workers (including 40 expatriates) at Tongon mine which has produced 2.7 million ounces of gold since it was commissioned in 2010. 

Louis-Nino Kansoun