Mali is demanding Resolute Mining pay up to resolve a tax dispute after its government detained the gold miner’s chief executive, according to people familiar with the matter.
Mali is demanding Australian gold producer Resolute Mining pay about $US160 million to resolve a tax dispute after theCEO Terry Holohan and two colleagues have been held in the capital, Bamako, since late last week after the Resolute boss travelled to the city for meetings with the nation’s tax and mining authorities. The detention comes as the military rulers of Africa’s third-largest gold producer ratchet up pressure on mining companies to renegotiate economic terms.
The parties have been discussing a potential agreement that would see the company pay half that sum now and half at a later date, one of the people said. Resolute previously negotiated a so-called convention for its Syama asset that runs until 2029, but the nation’s junta have upped pressure on firms with operating gold projects in the country after passing legislation last year that increases the state’s share of economic benefits from mining projects. Their toughening stance also coincides with a 25 per cent jump in the price of bullion this year.
Leader of Mali’s ruling junta, Lieutenant Colonel Assimi Goita , at a military parade in Bamako, Mali in 2022.Allied Gold and B2Gold have recently announced agreements that will govern the future operations of their Sadiola and Fekola projects in the country. They will pay about $US116 million and $US204 million respectively to the state under the deals, according to company statements.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aussie gold miner faces $250m demand from Mali as CEO detainedMali is demanding Resolute Mining pay up to resolve a tax dispute after its government detained the gold miner’s chief executive, according to people familiar with the matter.
Read more »
Gold miner confirms CEO held by Mali’s military junta, shares slideResolute Mining’s shares have plunged after it said Terry Holohan and two other employees were being held by Mali’s military junta.
Read more »
Resolute Mining CEO Terence Holohan and executives detained in Mali as families wait for newsThree executives from Perth-based mining company Resolute Mining detained in Africa have not been harmed and are 'being looked after,' according to WA Premier Roger Cook.
Read more »
Australia’s Resolute Mining CEO, executives detained in MaliThe apparent detention of Terry Holohan and other company executives follows a number of arrests in recent weeks targeting fellow gold miner Barrick Gold employees.
Read more »
Australia’s Resolute Mining CEO, executives detained in MaliThe apparent detention of Terry Holohan and other company executives follows a number of arrests in recent weeks targeting fellow gold miner Barrick Gold employees.
Read more »
Australia’s Resolute Mining CEO, executives detained in MaliThe apparent detention of Terry Holohan and other company executives follows a number of arrests in recent weeks targeting fellow gold miner Barrick Gold employees.
Read more »