Resolute Mining Limited is an Australian mining corporation focused on mining operations in Africa. It is currently operating two gold mines: the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal.

History

On June 8, 2001, Resolute Mining Limited was incorporated. It was the successor to Resolute Limited. On June 22, Resolute Limited underwent corporate reorganization via a scheme of arrangement where 100% of Resolute Limited was acquired by Resolute Mining Limited. Resolute Limited was originally incorporated on June 22, 1983, under the name Samantha Exploration NL. Samantha Exploration NL changed its name to Samantha Gold NL in January 18, 1990. In 1994, Samantha Gold took over its parent company Resolute Resources NL. The company was then renamed to Resolute Samantha Limited on July 21, 1995. Resolute Samantha merged with Associated Gold Fields NL in January 1996 after a friendly takeover, acquiring its Obotan mine. In November 1996, Resolute Samantha would rename itself to Resolute Limited. In January 2004, Resolute Mining bought the Ravenswood Gold mine from

Xstrata Xstrata plc was an Anglo-Swiss multinational mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. It was a major producer of coal (and the world's largest exporter of thermal coal), copper, ...

for US$45 million. In July 2004, Resolute bought the Syama Gold Mine in Mali from

Randgold Resources Randgold Resources is a gold mining business operating mainly in Mali. Headquartered in Jersey, Channel Islands, it was listed on the London and the NASDAQ stock exchanges until it merged with Barrick Gold in December 2018. History The company w ...

for US$6 million. In December 2013, Resolute Mining bought the Bibiani gold project in Ghana from Noble Mineral Resources, taking full ownership of the project in 2014, after approval from government of

Ghana Ghana (; tw, Gaana, ee, Gana), officially the Republic of Ghana, is a country in West Africa. It abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in Ghana–Ivory Coast border, the west, Burkina ...

. Resolute Mining divested its remaining assets and interests in

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands ...

in 2015, following the closure of its

Golden Pride Gold Mine The Golden Pride Gold Mine is an open pit gold mine located in Nzega District of the Tabora Region in Tanzania. Operated by the Australian mining company Resolute Mining, Golden Pride was the first modern commercial gold mining project developed ...

in 2013. In 2019, Resolute Mining acquired Toro Gold, and its Mako Gold Mine in

Senegal Senegal,; Wolof: ''Senegaal''; Pulaar: 𞤅𞤫𞤲𞤫𞤺𞤢𞥄𞤤𞤭 (Senegaali); Arabic: السنغال ''As-Sinighal'') officially the Republic of Senegal,; Wolof: ''Réewum Senegaal''; Pulaar : 𞤈𞤫𞤲𞤣𞤢𞥄𞤲𞤣� ...

, for US$305 million. In 2020, Resolute sold the Ravenswood Gold mine to a private equity firm, EMR Capital Management, and Singapore-based mining company, Golden Energy and Resources. With the sale of Ravenswood, Resolute's remaining mines were now only in Africa. Resolute also attempted to sell the Bibiani Gold Mine to China-based Chifeng Jilong Gold Mining for US$105 million. However, the deal was cancelled by Chifeng Jilong after the government of Ghana cancelled Resolute's lease for the Bibiani mine in 2021. Bibiani would be sold in August of that year to Canada-based Asante Gold for US$90 million. On November 8, 2024, the Malian government detained three executives of Resolute Mining, including its chief executive officer, Terry Holohan. The government of Mali alleged that Resolute Mining owed the government 100 billion

CFA francs The CFA franc (french: franc CFA, , Franc of the Financial Community of Africa, originally Franc of the French Colonies in Africa, or colloquially ; abbreviation: F.CFA) is the name of two currencies, the West African CFA franc, used in eight We ...

back taxes Back taxes is a term for taxes that were not completely paid when due. Typically, these are taxes that are owed from a previous year. Causes for back taxes include failure to pay taxes by the deadline, failure to correctly report one's income, or ...

. The employees had been in the Malian capital of

Bamako Bamako ( bm, ߓߡߊ߬ߞߐ߬ ''Bàmakɔ̌'', ff, 𞤄𞤢𞤥𞤢𞤳𞤮 ''Bamako'') is the capital and largest city of Mali, with a 2009 population of 1,810,366 and an estimated 2022 population of 2.81 million. It is located on the Niger River ...

, to meet with representatives of the Malian government to come to a resolution. Following the detention of Resolute's employees, the

Australian Securities Exchange Australian Securities Exchange Ltd or ASX, is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia a ...

halted the trading of Resolute's shares, as requested by Resolute. On November 18, Resolute agreed to pay the military government the demanded money. On November 21, Resolute said all three employees has been released and were 'safe and well'.

Operations

Current

* Syama Gold Mine,

Mali Mali (; ), officially the Republic of Mali,, , ff, 𞤈𞤫𞤲𞥆𞤣𞤢𞥄𞤲𞤣𞤭 𞤃𞤢𞥄𞤤𞤭, Renndaandi Maali, italics=no, ar, جمهورية مالي, Jumhūriyyāt Mālī is a landlocked country in West Africa. Ma ...

* Mako Gold Mine,

Former

, Tanzania * Obotan Gold Mine, Ghana * Ravenswood Gold Mine, Australia * Bibiani Gold Mine, Ghana

References

{{Mining companies of Australia Mining companies of Australia Gold mining companies of Australia Companies based in Perth, Western Australia Companies listed on the Australian Securities Exchange Non-renewable resource companies established in 2001 Australian companies established in 2001