Randgold first-quarter profit rises

Thu May 8, 2014 2:23am EDT

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May 8 (Reuters) - Randgold Resources Ltd reported a 14 percent rise in first-quarter profit as it produced more gold during the period.

Randgold, which has gold mines in Ivory Coast, Mali and the Democratic Republic of Congo, said profit from mining activity for the quarter ended March 31 rose to $171.0 million from $150.4 million a year earlier.

Gold production rose to 283,763 ounces from 199,013 ounces a year earlier, while total cash costs per ounce fell 19 percent. (Reporting by Karen Rebelo in Bangalore; Editing by Supriya Kurane)