Australian Resolute Mining company has agreed to pay $160 million to Mali’s government to resolve a tax dispute following the detention of its chief executive and two other employees. The settlement includes an immediate $80 million payment from existing reserves, with the remainder scheduled for coming months.
The announcement triggered a significant market response, with company shares declining 14.3 percent to their lowest level since March. The detained employees, who remain in Bamako under diplomatic supervision from British and international representatives, were initially visiting Mali for discussions with mining and tax authorities.
This incident reflects an emerging pattern in Mali’s gold sector, as authorities increase pressure on foreign mining companies to generate additional revenue. Similar detentions have affected other international mining operations, including Canadian corporations, suggesting a shift in government approach to foreign resource extraction.
The Syama mine, representing 80 percent ownership by Resolute with the remaining stake held by Mali’s government, contributed approximately two-thirds of the company’s 329,061 ounces produced in 2023. Despite the ongoing dispute, the company reports normal operational continuity at the site.
The situation highlights growing tensions between international mining companies and West African governments seeking greater control over natural resources. The resolution demonstrates the complex balance between foreign investment and national economic interests in Africa’s mining sector.