MINING REFINING

Resolute Mining tumbles as gold firm’s boss detained in Mali

Mon Nov 11 2024

Resolute Mining Ltd (ASX:RSG, LSE:RSG) shares fell by almost a third on Monday following news the Australian-based gold miner’s chief executive had been detained in Mali. erence Holohan was “unexpectedly” detained alongside two other Resolute employees by government officials after a meeting last Friday, a statement said.

They had been in the country’s capital, Bamako, to discuss “open claims” against Resolute, which the company said it “maintains are unsubstantiated”. Resolute in 2022 said it was in dispute with Mali authorities over demands for additional payments worth over US$100 million (£77.5 million) on taxes between 2015 and 2021. “Resolute has followed all official processes with respect to its affairs and has provided the authorities with detailed responses to all the claims made,” the company added on Monday.

Resolute, which operates the part government-owned Syama mine in Mali, said the employees were being treated well and work was continuing on a resolution.

Source: https://www.proactiveinvestors.co.uk/