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Australian Mining Firm to Pay Mali $160 Million for CEO’s Release
The Australian firm Resolute Mining has announced that it will pay Mali’s government $160 million to resolve a tax dispute. Mali detained its CEO Terence Holohan and two other employees this month. The trio was arrested after travelling to Bamako for routine negotiations with the ruling regime. Their detention came amid increased scrutiny of foreign mining firms operating in the country.
Resolute, which operates a gold mine in Mali, announced that it would pay $80 million from existing cash reserves, with the remainder to be paid over the “coming months.”
Mali’s leaders have pledged to reclaim gold mining revenues from foreign companies operating in the country since taking power.
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Australian Mining Firm to Pay Mali $160 Million for CEO’s Release
The Australian firm Resolute Mining has announced that it will pay Mali’s government $160 million to resolve a tax dispute. Mali detained its CEO Terence Holohan and two other employees this month. The trio was arrested after travelling to Bamako for routine negotiations with the ruling regime. Their detention came amid increased scrutiny of foreign mining firms operating in the country.
Resolute, which operates a gold mine in Mali, announced that it would pay $80 million from existing cash reserves, with the remainder to be paid over the “coming months.”
Mali’s leaders have pledged to reclaim gold mining revenues from foreign companies operating in the country since taking power.
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