https://www.miningweekly.com

Resolute makes second payment of $50m to Mali government

Resolute says operations at Syama continue as normal.

Resolute says operations at Syama continue as normal.

29th November 2024

By: Sabrina Jardim

Senior Online Writer

     

Font size: - +

London- and Australia-listed Resolute Mining has made a second settlement payment of about $50-million to the government of Mali from existing cash reserves.

The company notes that the remaining payment of about $30-million is expected to be paid by the end of this year, from existing liquidity sources.

The settlement payments totalling about $160-million are pursuant to a memorandum of understanding expressed as a protocol that Resolute executed with the Mali government on November 18.

Resolute agreed to the $160-million payment after its CEO and other executives were detained in the country. An initial $80-million payment was made to the government, after which the executives were released and allowed to return to Australia.

Resolute says the protocol sets the framework for further detailed discussions with the government regarding the long-term future of Resolute's operations in Mali.

This includes migration of the company's assets in Mali to the 2023 Mining Code alongside maintaining the safety of all company employees.

As announced previously, Resolute notes that the protocol also provides that all outstanding claims by the government against the company, including those related to tax, customs levies, maintenance and management of offshore accounts are settled.

The company explains that discussions with the government are ongoing to clarify points of the protocol. Further details around the specifics of the protocol will be provided in due course.

“Resolute remains focused on securing the long-term future of, and creating certainty for, the Syama gold mine and its expansion plans.

“The company also remains committed to working collaboratively with the Mali government, together with all its stakeholders. Operations at Syama continue as normal and have not been impacted,” the gold miner comments.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.058 0.75s - 128pq - 2rq
Subscribe Now