An Australian mining company, Resolute Mining, says it will pay Mali’s military government $160m (£126m) to settle a tax dispute after the company’s British boss and two other staff were unexpectedly fired 10 days ago. was taken into custody.
Reports indicated that Terry Holohan and his colleagues were arrested on their way to the capital, Bamako, for what they expected to be routine talks.
Resolute, which owns a gold mine in Mali, said on Sunday it would pay $80m immediately from existing cash reserves, and the rest in the coming months.
Mali is one of Africa’s top gold producers.
It is trying to extract a major share of revenue from foreign operators in this sector.
It is not yet clear when the three Resolute employees will be released.
According to a report by French broadcaster RFI, part of the conditions for their release was that they sign a memorandum of understanding and complete an initial payment.
Mali’s military rulers detained three Resolute executives on charges of forgery and damage to public property, blackmailing the Australian company amid an ongoing state crackdown on foreign – mostly Western – mining companies in the West African country. Seen as an attempt to mail.
Since taking power through a coup in 2021, Mali’s junta has sought to realign its political and trade relations with international partners.
Last year, President Col. Assimi Guetta signed a new mining code that raised the maximum stake for state and local investors from 20% to 35%.
Additional reporting by Natasha Botti
