In an ongoing dispute between Aussie miner, Resolute Mining, and Mali’s military government, the company has agreed to pay US$160M to resolve a tax dispute. The decision follows the unexpected detention of the company’s British CEO, Terry Holohan, and two other employees 10 days ago. Reports indicate that Holohan and his colleagues were arrested while traveling to Bamako for what they believed would be routine negotiations.
The company, which operates a gold mine in Mali, announced on Sunday that it would pay US$80M immediately from its cash reserves, with the remaining amount to be paid over the coming months.
The aim of the detention by Mali authorities was to secure a larger portion of revenue from foreign companies operating in the sector. The release date for the three Resolute employees remains uncertain.
According to a report by French broadcaster RFI, their release conditions include signing a memorandum of understanding and making an initial payment.
Mali’s military government detained the three Resolute executives on charges of forgery and damaging public property, which is perceived as an attempt to pressure the Australian company amid a broader crackdown on foreign, particularly Western, mining firms in the country.
