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Posted By OrePulse
Published: 11 Nov, 2024 08:27

WA-based gold mining CEO detained by West Africa military

By: ABC News

Terry Holohan along with other executives at Resolute Mining were taken by Mali’s junta over the weekend, according to individuals who spoke on the condition of anonymity, Perth Now reported.

The mining company has declined to comment on the matter, as has a member of Mali’s mining ministry, the publication said.

The reported detention followed four employees of fellow gold mining company Barrick Gold Corp being arrested in October.

Mali’s junta staged a coup d’état in August 2020 and in seized total power of the country in another coup in May 2021.

Since then, international miners in the country have been under growing pressure.

Terry Holohan, chief executive of the Australian mining company Resolute Mining Ltd, has been detained by Mali’s ruling junta.

Resolute Mining recently increased production at its Syama project in a $52 million expansion, in the nation’s southeast ahead of a planned second phase rollout in 2025.

Mr Holohan took on the leadership role in 2021 amid considerable financial challenges and operational issues, notably at the Syama mine in Mali.

Since taking on the role, he has worked to stabilise operations, restructure debt, and improve Resolute’s cash flow.

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