Randgold's flagship Mali mine on track to beat production guidance

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BAMAKO, July 27 (Reuters) - Randgold Resources' Loulo-Gounkoto gold mining complex in Mali is currently on track to beat its 2016 production guidance, CEO Mark Bristow told reporters late on Wednesday.

Loulo-Gounkoto, the company's flagship operation in the West African nation, was targeting output of 670,000 oz of gold this year, according to the company's website, up from 630,167 oz last year.

"Loulo-Gounkoto complex is currently on track to beat its 2016 production guidance and continue to produce more than 600,000 ounces of gold annually for the next 10 years with a life of mine which well exceeds that horizon," Bristow said.

Speaking in the capital Bamako, he said that while Morila, Randgold's other gold mine in Mali, was approaching the end of its lifespan, it would continue to remain profitable for the next three years.

Mali is Africa's third-largest gold producer after South Africa and Ghana. Randgold's operations constitute between 7 and 11 percent of its gross domestic product, Bristow said. (Reporting by Tiemoko Diallo; Writing by Joe Bavier; Editing by James Dalgleish)