Resolute Mining CEO Terence Holohan and two other executives have reportedly been detained by Mali's military junta government following discussions last week over 'general activities related to Resolute's in-country business practices', the company reported on Monday morning.
Resolute Mining CEO Terence Holohan and two other executives have reportedly been detained by Mali's military junta government following discussions last week over "general activities related to Resolute's in-country business practices", the company reported on Monday morning. Shares in the Perth-based gold miner nosedived 26% to A50c in early trading on Monday, giving it a market capitalisation of circa $1 billion.
Resolute not the first to face issues Barrick has faced its own challenges in Mali, having clashed in recent months with the government over tax and dividend issues from its Loulo and Gounkoto gold mines in the country. In late September, four Barrick employes were briefly detained by Malian authorities, soon before Barrick reportedly agreed to a resolution around the profit redistribution issues.
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