Randgold to pay $25 million towards settling Mali tax dispute

BAMAKO, Oct (HKSE: 3366-OL.HK - news) 26 (Reuters) - Randgold Resources has agreed to pay the Malian government 15 billion CFA francs ($25 million) to help to resolve a tax dispute that resulted in the company's Bamako offices and bank accounts being closed by authorities this month, chief executive Mark Bristow said in a statement on Wednesday.

"We have agreed to an advance of 15 billion CFA on the understanding that both parties will soon sit down to arrive at a final and global solution to all the Randgold group tax issues," Bristow said. "Any overcharges in the disputed assessments will be returned to us at the end of this process."

The dispute relates to tax assessments for 2011-13. Mali's finance minister said this week that Randgold owes 42 billion CFA in total. Randgold disputes the charge.

Randgold's offices were reopened last week, allowing staff to return.

($1 = 601.0200 CFA francs) (Reporting By Tiemoko Diallo in Bamako and Edward McAllister in Dakar; Editing by Tim Cocks and Jane Merriman)