Resolute Mining to pay $160 million after executives detained in Mali

Resolute Mining CEO Terence Holohan and two other employees were detained in Mali on November 8, due to a dispute over taxes, customs levies, maintenance, and management of offshore accounts. The company agreed to settle all outstanding claims by making an initial payment of $80 million from its cash reserves, with a promise to pay an additional $70 million in the coming months. The total settlement amount is $160 million, which Resolute Mining will pay to free its detained executives. This incident occurred at the Syama Gold Mine, owned by Resolute Mining, which employs 1,500 workers. The company's British CEO and two staff members were arrested while traveling to Bamako, the capital of Mali.