Mali Update and Second Settlement Payment
29 November 2024
Update on Mali Discussions and Second Settlement Payment
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Resolute Mining ("Resolute" or the "Company") (ASX/LSE: RSG) announces that it has made the second settlement payment of approximately US$50 million to the Government of Mali from existing cash reserves. The remaining payment of approximately US$30 million is anticipated to be paid by the end of 2024 from existing liquidity sources.
The settlement payments totaling approximately US$160 million are pursuant to a memorandum of understanding expressed as a protocol (the "Protocol") that Resolute executed with the Government of Mali on 18 November 2024. The Protocol sets the framework for further detailed discussions with the Government regarding the long-term future of Resolute's operations in Mali. This includes migration of the Company's assets in Mali to the 2023 Mining Code alongside maintaining the safety of all Company employees.
As announced previously, the Protocol also provides that all outstanding claims by the Government against the Company, including those related to tax, customs levies, maintenance and management of offshore accounts are settled. Discussions with the Government of Mali are ongoing to clarify points of the Protocol. Further details around the specifics of the Protocol will be provided in due course.
Resolute remains focused on securing the long-term future of, and creating certainty for, the Syama Gold Mine and its expansion plans. The Company also remains committed to working collaboratively with the Malian Government together with all its stakeholders.
Operations at Syama continue as normal and have not been impacted.
Authorised by Andrew Wray, Non-Executive Chairman
Contact
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Resolute Matthias O'Toole Howes, Corporate Development and Investor Relations Manager Matthias.otoolehowes@resolutemining.com +44 203 3017 620 |
Public Relations Jos Simson, Tavistock resolute@tavistock.co.uk +44 207 920 3150 +44 778 855 4035
Corporate Brokers Jennifer Lee, Berenberg +44 20 3753 3040
Tom Rider, BMO Capital Markets +44 20 7236 1010 |
Resolute Mining Limited ABN 39 097 088 689
Level 17, 2 The Esplanade, Perth, Western Australia 6000
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