Australian mining company accepts to pay Mali $160mln in tax dispute

Australian mining company, Resolute Mining, said it has accepted to pay $160 million to settle a tax dispute with the Mali government, after authorities detained its British CEO.

The company agreed to an immediate settlement of $80mln from available funds, with the rest to be paid later, the media reported.

The CEO was detained along with two other British employers on the charges of forgery and damaging public property.

“We are supporting three British nationals who have been detained in Mali and are in contact with the local authorities,” the British government’s foreign office said in response to their detention.

The military regime in Mali has tightened control over Western mining companies, seeking to reconfigure trade ties and international partners.

Mali is a significant player in the global gold market, being the third largest gold producer in Africa and the thirteenth in the world