Resolute Mining to Pay $160 Million to Mali After Detention of Executives

The Australian company agrees to a settlement with Mali's junta following the unexpected detention of its CEO and two employees.

Resolute Mining's CEO Terence Holohan and two other executives were detained in Mali's capital, Bamako, on November 8 during discussions with government officials.
The settlement involves Resolute paying $80 million immediately from its cash reserves, with an additional $80 million to be paid in the coming months.
Mali's military government has been pressuring foreign mining companies to increase local revenue, following a coup in 2020 and the introduction of a new mining code.
The detained executives, all British nationals, are reportedly safe and well, with ongoing efforts to secure their release.
Resolute Mining's shares have suffered significant declines in both London and Australia following the news of the detentions and the financial settlement.