Randgold Resources (NASDAQ:GOLD)(LSE:RRS) is looking at developing a third underground mine at its Malian-based Loulo-Gounkoto gold mining complex. “Regardless of the potential Gounkoto underground mine, subject to the gold price remaining at current levels, the complex is forecast to up its profitability from its existing mining activities through increased production and reduced unit costs on the back of higher grades, improved recoveries and the benefits of its ongoing capital projects,” says Mark Bristow, chief executive officer of Randgold. He adds that the complex has 8 million ounces of gold in reserves. He also continued to give his support to investing and developing Mali as a country. “Now, more than ever before, Mali needs investment and private sector support as it contends with the Islamist incursion in the north, the abiding threat of an Ebola recurrence and the challenge of rebuilding the economy after the period of civil unrest some years ago,” Bristow says. “If we continue to work in partnership with each other, these obstacles too can be overcome.”
