Resolute Mining Limited Mali Update and Second Settlement Payment

RNS Number : 1031O

Resolute Mining Limited

29 November 2024

 

29 November 2024

 

Update on Mali Discussions and Second Settlement Payment

 

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

 

Resolute Matthias O'Toole Howes, Corporate Development and Investor Relations Manager [e-mail] [phone]

Public Relations Jos Simson, Tavistock [e-mail] [phone] [phone]   Corporate Brokers Jennifer Lee, Berenberg [phone]   Tom Rider, BMO Capital Markets [phone]

 

Resolute Mining Limited ABN 39 097 088 689

Level 17, 2 The Esplanade, Perth, Western Australia 6000

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