Mali’s Military Junta Secures $160M Settlement from Mining Giant After Detaining Executives
Mining corporation Resolute Mining has agreed to a $160 million settlement with Mali's military government following the controversial detention of its CEO Terry Holohan and two other executives. The agreement marks a significant shift in Mali's aggressive push to reshape its mining sector relationships. The dramatic development unfolded when Malian authorities detained the executives during what was meant to be routine negotiations in Bamako. Resolute, which operates a significant gold mining operation in the resource-rich nation, will immediately discharge $80 million from existing reserves, with the remainder scheduled for subsequent payments. The settlement emerges amid Mali's broader strategy to increase state control over its valuable mining sector. Since the 2021 military coup, the government under Col Assimi Goïta has systematically restructured its relationships with Western mining interests, including implementing a new mining code that boosts state ownership caps from 20% […]
