Resolute Mining Agrees to $160 Million Settlement with Mali

Resolute Mining, an Australian gold company, has agreed to pay $160 million to the Malian government to resolve a tax dispute following the detention of its CEO Terence Holohan and two other employees in Bamako. The settlement includes an immediate payment of $80 million from the company's cash reserves, with the remaining amount due in the coming months. The arrests occurred during routine negotiations amid rising scrutiny of foreign mining operations in Mali, which is attempting to bolster its revenues from the lucrative gold sector. The detainees are reportedly safe and receiving diplomatic support. This incident highlights ongoing tensions between Mali's military government and foreign mining firms, reflecting a broader trend of increasing government pressure on international companies in the region. The military regime, which seized power in 2020, has been actively pursuing greater control over the country's natural resources, as evidenced by recent detentions of employees from other foreign mining companies.