Resolute Mining's $160M Settlement with Mali Government

Resolute Mining, an Australian mining company, has agreed to pay $160 million to Mali's military government to resolve a tax dispute after its CEO, Terence Holohan, and two other staff members were detained in the capital, Bamako. The company has already paid $80 million from its cash reserves and will pay the remaining amount in the coming months. This settlement involves migrating the company's assets to Mali's new mining code and settling various claims, including taxes and custom levies. Resolute owns an 80% stake in the Syama Gold Mine in Mali, with the government holding the remaining 20%. The employees detained are reported to be safe and are receiving support from the UK and international embassies. Resolute's shares have dropped significantly following the detention, reflecting investor concern over the situation.