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Mali receives $160 million from Resolute Mining

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Following Mali’s imprisonment of its CEO, Terence Holohan, and two other staff members last month, Australia’s Resolute Mining said on Monday that it would give the West African nation $160 million to settle a tax dispute.

According to a statement, Resolute has already paid $80 million from its cash reserves as part of the settlement and plans to pay another $80 million from its liquidity in the upcoming months.

Early Monday trading saw Resolute shares drop as much as 14.3% to A$0.345, the lowest level since March 1.

According to the firm last week, the arrested personnel were in Bamako, the capital of Mali, to meet with tax and mining officials about general matters pertaining to the business procedures of the company.

The arrested workers are “safe and well” and are being supported by the UK and foreign embassies and consulates, the miner said on Monday, adding that Resolute is presently collaborating with the Mali government to free them.

Mali is one of Africa’s leading producers of gold, and as the government looks to increase revenue from the industry, the arrest of mining firm workers—including some senior local employees at Canada’s Barrick Gold—becomes more common.

Almost two-thirds of Resolute’s yearly sales of 329,061 ounces in 2023 came from its own gold mine in Syama, Mali, one of its two active mines. Resolute controls 80% of the property, with the remaining portion held by the Mali government.

“The Company notes that operations on site continue as normal and have not been impacted,” Resolute said in its statement.

Musings From Abroad

Russia vetoes Sudan conflict Security Council move

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A draft resolution from the UN Security Council urging Sudan’s warring parties to immediately end hostilities and guarantee the delivery of humanitarian supplies was vetoed by Russia on Monday.

China and every other member of the 15-member council supported the British-Serra Leonean-drafted motion.

In a decision described as “mean, nasty, and cynical” by British Foreign Secretary, David Lammy, Russia was the only member to vote against, sending a message to the warring parties that they may act without consequence.

The world’s greatest relocation crisis began in April 2023 when the Sudanese army and the paramilitary Rapid Support Forces engaged in a power battle ahead of a scheduled transfer to civilian administration.

The conflict’s participants were urged by the draft resolution to “immediately cease hostilities and engage, in good faith, in dialogue to agree steps to de-escalate the conflict to urgently agree a national ceasefire.”

In addition, it urged them to hold talks to reach agreements on humanitarian pauses and arrangements, guarantee the safe movement of people, and provide sufficient humanitarian relief, among other things.

The United Kingdom was accused by Russia of trying to interfere in Sudanese affairs.

“We agree with all Security Council colleagues that the conflict in Sudan requires a swift resolution. It is also clear that the only way to achieve this is for the warring parties to agree to a ceasefire,” Deputy Russian U.N. Ambassador Dmitry Polyanskiy told the meeting.

He claimed Lammy’s critique was an “excellent demonstration of British neo-colonialism” and accused those who supported the proposed resolution of using “double standards” by allowing Israel to continue violating international humanitarian law in Gaza.

“One country stood in the way of the council speaking with one voice. One country is the blocker. One country is the enemy of peace. This Russian veto is a disgrace, and it shows to the world yet again, Russia’s true colours,” Lammy told the meeting.

“I ask the Russian representative, in all conscience – sitting there on his phone – how many more Sudanese have to be killed? How many more women have to be raped? How many more children have to go without food before Russia will act?”

Nearly 25 million people, or half of Sudan’s population, require help, according to the U.N., since 11 million people have abandoned their homes and starvation has spread to displacement camps. Of those, almost 3 million have departed for other nations.

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Musings From Abroad

UK wants Security Council vote on Sudan resolution

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According to the British foreign ministry, Britain will look to other members of the UN Security Council on Monday to support its call that the warring parties in Sudan halt their fighting and let in humanitarian supplies.

A vote on a draft resolution offered by the UK and Sierra Leone that also demands for the protection of civilians is scheduled to be chaired by British Foreign Minister David Lammy, as London holds the council’s rotating presidency.

British Foreign Minister, David Lammy, is set to chair a vote on a draft resolution proposed by the UK and Sierra Leone that also calls for the protection of civilians, as London holds the council’s rotating presidency.

The British foreign ministry said that Britain will look to other members of the UN Security Council on Monday to support its call for the warring parties in Sudan to cease their fighting and allow humanitarian supplies.

He was supposed to declare that Britain “will keep standing with Ukraine until reality dawns in Moscow” in reference to the conflict in Ukraine.

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