Terry Holohan, the CEO of Australian gold mining company Resolute Mining Ltd., has been detained by the military-led government of Mali, according to the company. Holohan and two other senior executives were in Bamako, the capital of Mali, last week to meet with local mining and tax authorities. However, after the meetings concluded on Friday, the executives were “unexpectedly detained” by government officials, Resolute confirmed in a statement on Sunday.
This detention comes amid heightened tensions between the Malian government and international mining companies. In recent weeks, the military government, which seized power in a 2020 coup, has arrested employees of other foreign firms, including Barrick Gold. In September, four Barrick Gold staff members were taken into custody.
Since the coup, the military government has been under increasing pressure to extract more revenue from Mali’s rich mineral resources. Last year, the government adopted a new mining code aimed at raising funds, particularly from gold — a critical sector of the country’s economy. However, the country’s finances have been strained due to ongoing sanctions that have hindered imports and access to international credit.
The junta has also been taking a more aggressive stance in renegotiating mining contracts with foreign companies, including B2Gold, Allied Gold, and AngloGold Ashanti. However, Assane Sidibe, president of Mali’s mining commission, indicated in an interview last year that the new regulations would only apply to new contracts and renewals, not existing agreements.
Resolute Mining continues to expand its operations in Mali, particularly at its Syama gold mine in the southeast of the country. The mine produces about 2.4Mt of ore annually, and a second phase of the project is expected to begin operations in 2025. The Malian government holds a 20% stake in the Syama project.
In response to the detention, Resolute emphasized that it had followed all official procedures and had provided detailed responses to the authorities’ claims. “While Resolute is working toward a resolution with the government of Mali to ensure the long-term future of the Syama gold mine, the safety and wellbeing of our employees remains our top priority,” the company said.
The incident highlights the growing risks for international mining companies operating in Mali, where the military junta has been asserting greater control over the mining sector as part of its broader efforts to consolidate power and generate revenue for the state.
