African gold mining group Randgold Resources pledged on Wednesday to cut costs and raise production over the rest of the year to counter plunging bullion prices which triggered a 62-percent slump in second quarter profit. Precious metals mining companies are under intense pressure to cut costs with a 20-percent slump in gold this year sending prices to a near 3-year low of about $1,180 an ounce in June.moreless
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