Resolute Mining has agreed to pay Mali’s navy authorities $160 million to settle a tax dispute after the sudden detention of its British CEO, Terry Holohan, and two of his colleagues. The executives have been detained throughout a visit to Bamako, Mali’s capital, for what they believed to be routine negotiations. The settlement consists of an preliminary $80 million cost from Resolute’s money reserves, with the rest to comply with within the coming months. Per French broadcaster RFI, the detained executives’ launch is contingent on signing a memorandum of understanding and finishing the preliminary cost, amongst different issues. Mali, one in all Africa’s main gold producers, lately introduced its intention to safe a bigger share of income from overseas mining corporations, largely Western, working inside its border.
SOURCE: BBC