Randgold Resources hit by illegal sit-in at Tongon mine

Cecilia Jamasmie | January 30, 2017 | 3:16 am Precious Metals Africa Europe Gold

Tongon mine plant, Ivory Coast. (Image courtesy of Randgold Resources)

Africa-focused gold producer Randgold Resources (LON:RSS) unveiled Monday it is negotiating with some of its workers in the Ivory Coast to end an illegal sit-in which started at the company’s Tongon mine late last week.

The company, which has five operating gold mines across west and central Africa, said representatives of the government and the union, which does not support the labour action, are helping management engage the workers, who demand annual ex-gratia payments.

In a separate statement, Randgold announced that its Loulo-Gounkoto operation in Mali is set to report a new production record for the fourth quarter of the year “rounding off on a high note what has been a good year for the company’s flagship operation”.

Shares in the company slipped 0.30% to £65.60 in London early afternoon trade. The gold miner will unveil its full-year production numbers next week.