Resolute Mining has agreed to pay the Mali government $247 million, more than its total cash reserves, following the detention of its CEO and employees in Bamako.
Resolute Mining CFO stated, 'To resolve the situation, we will pay $80 million immediately and another $80 million in the coming months while our team members work with authorities.'
Despite the unexpected detention of the CEO and staff, Resolute intends to continue discussions with Mali’s government, indicating the company's commitment to a cooperative approach.
With a military junta in power since 2020, Mali's complex political landscape poses challenges for foreign companies like Resolute engaged in mining operations.
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