DAKAR, Senegal (AP) β Australiaβs Resolute Mining said Monday it would pay $160 million to Maliβs ruling junta to resolve a tax dispute, more than a week after the companyβs CEO and two employees were detained in the West African country.
Earlier this month, the Australian gold mining companyβs CEO Terence Holohan and the two others were detained in Mali's capital Bamako on Nov. 8 as they were visiting the country for talks over an unspecified dispute. The government did not say why they were detained.
Andrew Wray, the companyβs non-executive chairman, said in a statement published on Resolute Miningβs website that all claims against the company made by Malian authorities, βincluding those related to tax, customs levies, maintenance and management of offshore accountsβ are settled.
The company will pay Mali $80 million from βexisting cash reserves," with an additional payment of $80 million in the βcoming months," he added.
Resolute said the company's CEO and two employees were βsafe and well,β and that it was working with Mali's authorities for their release.
The Australian company has been working for years at Maliβs Syama gold mine, a large-scale operation in the countryβs southwest. It holds an 80% stake in mine, while the Malian government holds the remaining 20%.
The arrest is the latest controversy in Maliβs foreign-dominated and crucial mining sector, increasingly scrutinized by the military authorities. Four employees of Canadian company Barrick Gold also were detained for days in September.
Mali is one of Africa's leading gold producers, but has struggled for many years with jihadi violence and high levels of poverty and hunger. The military seized power in 2020 and since then the junta has placed foreign mining companies under growing pressure as it seeks to shore up the government's revenues.
