With a strong record of exploration work, Randgold has a long-term strategy of developing and strengthening gold mining operations through discovery and development, however some operational issues over the past year have created problems. There was a fall of 40 percent in the fourth quarter in its production activities at the Tongon mine in Ivory Coast due to the unusual production issues that included a temporary work stoppage, wet weather, and more-than-expected complicated process of linking in to the national grid.  

 

There was no effect of the political unrest in the country last year on the Tongon site which has a positive outlook for the rest of the year with an expected growth in production up to 825,000 to 865,000 oz. In early trading, its stock rose 3.5 percent. Unaudited revenues for last year jumped to more than 100 percent, to $1.1bn. The pre-tax profits went up to $485m from $145m in 2010.