On the evening of Friday, November 9, Terence Holohan, CEO of the Australian mining company Resolute, along with two expatriate colleagues, was unexpectedly detained at a hotel in Bamako and taken to the economic crimes brigade, Resolute confirmed on Monday, November 11.
The company, which operates the Syama gold mine in southwestern Mali, faces a financial dispute with Malian authorities, who have accused it of “forgery and damage to public property.” A source close to the investigation stated: “This is a significant financial matter. Resolute owes a large sum to the Malian Government, and its business practices are perceived as unorthodox”.
While Holohan and his colleagues have been actively defending their position to investigators, they are, for now, avoiding any direct confrontation with Malian authorities. According to an official document, Resolute has indicated a willingness to settle part of the considerable amount sought by the government. “Resolute is working towards an agreement with the Malian government that would secure the long-term future of the Syama gold mine. The company’s primary concern remains the safety and well-being of its employees,” Resolute stated, noting that its executives have the support of British and other foreign embassies present in Mali.
If no resolution is reached, the three senior executives face potential charges, especially as the ruling junta currently shows no sign of compromise. Resolute holds an 80% stake in the company that owns the Syama mine, with the remaining 20% controlled by the Malian state.