By Cecilia Jamasmie
MINING.com
Africa-focused gold miner Randgold Resources (LON:RSS) said Friday is targeting over one million ounces of gold production for the year, adding it is getting close to its long-term goal of 1.2 million ounces by 2015.
The company achieved a 15% increase in production to 910,364 in 2013 at a reduced cash cost of $715 per change and it is now aiming for an increase in production of between 24% and 30%, with costs expected to fall to between $650 and $700 per ounce.
But those were not the only big news delivered in the company’s annual report. The miner also unveiled it has given its chief executive officer Mark Bristow, a 36% pay increase to $7.4 million, after a jump in long-term share payments.