Randgold Resources plans to set a new peak of production at lower costs on its gold complex Loulo-Gounkoto in Mali, Chiaka Berthe, manager of the company’s West African operations, said on Monday at an update conference on quarterly activities.

He said that the complex, which had produced 707,116 oz of gold in 2016, is on track for better performance. The global year’s figures will be published on Feb. 5. The official also announced that Mali’s ministry of mine and petroleum approved the development of a “super pit” at the Gounkoto open-pit mine. The existing mining agreement is under review to consider this new investment.

The country has recently announced that its industrial gold production increased by 5% to 49.6 tons in 2017.

Louis-Nino Kansoun