Resolute makes second payment of $50m to Mali government
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.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...
VISIT SHOWROOM
Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
