Australia – The Nightly, November 10, 2024
Perth-based gold miner Resolute Mining has confirmed chief executive Terry Holohan has been detained in Mali but maintains the allegations against him and other executives are “unsubstantiated”.
In a statement, Resolute confirmed Mr Holohan and two Resolute employees were “unexpectedly detained” by Mali government officials after meetings with mining and tax authorities in the capital Bamako on Friday.
Confirmation of the detention sent Resolute’s share price plummeting in early trade on Monday, down 30 per cent to 47.5¢.
The executives were in talks about Resolute’s business practices in Mali as well as progressing “open claims” levelled against the company, which it denies, the statement read.
“Resolute has followed all official processes with respect to its affairs and has provided the authorities with detailed responses to all the claims made,” the statement, authorised by chair Andrew Wray, said.
The West Australian understands Mr Holohan is a British national who lives in Hungary. The two other Resolute executives are reportedly based in Perth.
