Resolute to pay Mali $160m but chief exec still detained
Resolute Mining Ltd (ASL;XRS and LSE;XRS) in an effort to settle a tax and offshore account disagreement with the Mali government that led to the detention of its CEO and two senior managers, in Bamakos capital city has agreed to pay a sum of $160 million.
The deal establishes a structure for in depth talks with the Mali authorities regarding the direction of its activities, in Mali following the introduction of a mining law last year and ensuring the well being of its workforce.
Approximately $80 million has been paid to the government as a settlement from available cash reserves followed by another $80 million to be paid in the upcoming months, from existing sources of funds.
Resolute mentioned that they are collaborating with the authorities to secure the freedom of three staff members. One of whom's their CEO named Terence Holohan.
"They are still safe and in health and are continuing to receive assistance, from British and foreign embassies and consulates on site " the statement mentioned.
Operations at the site are running smoothly without any disruptions and trading has resumed on the Australian Stock Exchange as, per usual.
Shandor Brenner is an American journalist recognized for his sharp and insightful reporting on social and political issues. His work is known for its depth, integrity, and the ability to highlight critical societal concerns.
