Following the surprise detention of its British head and two other employees ten days ago, the Australian mining company Resolute Mining has announced that it will pay Mali’s military government $160 million (£126 million) to resolve a tax issue.
Terry Holohan and his associates were reportedly detained on route to Bamako, the capital, for what they believed to be standard negotiations.
Resolute, the owner of a gold mine in Mali, announced on Sunday that it will use its current cash reserves to pay $80 million right away and the remaining amount over the course of the next few months.
One of Africa’s leading producers of gold is Mali.
It aims to take a larger cut of revenue from international businesses operating in the industry.
The release date for the three Resolute employees is yet unknown.
