Randgold CEO hopeful on resolution to Mali tax dispute

BAMAKO, July 26 (Reuters) - Randgold Resources' chief executive said on Wednesday he was hopeful of resolving an 42 billion CFA Francs ($74 million) tax dispute with Mali's government and that the company continued to invest in its two mines in the West African country.

The gold miner has already agreed to pay more than a third of the total fine to help resolve the dispute, which at one point prompted authorities to close Randgold offices in Africa's third largest gold producer.

"We're continuing our discussions with the authorities and are hopeful that we will be able to reach an amicable solution on the outstanding files instead of another round of arbitration proceedings," Mark Bristow told reporters in Bamako.

He added that fresh finds at Randgold's flagship Loulo-Gounkoto mine were adding additional reserves and that work was underway on a new "super pit" there. Annual production at the site is due to exceed 600,000 ounces over many years.

A satellite project at the Morila mine, which is approaching the end of its lifespan, is due to begin in September. Together with other nearby acquisitions, this will mean it can keep producing until at least 2019, Bristow added.

Both sites are located in Mali's gold-rich south and far from most of the recent attacks by Islamist militants on Western targets. ($1 = 569.7500 CFA francs) (Reporting by Tiemoko Diallo; Writing by Emma Farge; Editing by Susan Fenton)