Resolute Mining Makes Progress on $160 Million Settlement with Mali Government
London- and Australia-listed Resolute Mining has completed a second settlement payment of approximately $50 million to the government of Mali, funded from its existing cash reserves.
The company confirmed that the remaining balance of $30 million will be settled by the end of this year using its current liquidity sources.
These payments are part of a $160 million settlement outlined in a memorandum of understanding (MoU) signed with the Malian government on November 18.
Resolute agreed to the settlement after its CEO and other executives were detained in Mali. An initial $80 million payment secured their release and return to Australia.
The MoU provides a framework for ongoing discussions with the Malian government to determine the long-term future of Resolute’s operations in the country. This includes transitioning its assets to align with the 2023 Mining Code and ensuring the safety of its employees.
Resolute stated that the agreement addresses all outstanding claims from the Malian government, including issues related to tax, customs levies, and the management of offshore accounts. Discussions are ongoing to finalize the specifics of the protocol, with further updates to be provided in due course.
Resolute emphasized its commitment to securing the long-term future of its Syama gold mine, including planned expansion projects. The company noted that operations at Syama remain unaffected and continue as normal.
“We remain dedicated to working collaboratively with the Mali government and all stakeholders to ensure stability and certainty for our operations,” the company stated.
