Randgold Resources Tongon Gold Mine Production Impacted by Ongoing Strike

Randgold Resources (GOLD) shares were lower by more than 2% after the company said an ongoing strike by a subcontractor’s workforce was having an impact on operations at its Tongon gold mine.

As a result, Randgold is uncertain it will achieve its 290,000 ounce production forecast for the year, but the company’s group outlook for 2018 remained with guidance.

The subcontractor has been negotiating with its workforce to achieve a resolution and Tongon management as well as Randgold executives are also engaging with the Cote d’Ivoire’s minister of mines, senior government and elected officials and local authorities.

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