Tag: Resolute Mining

Large Gold Deposit found in Ivory Coast

On By Dr. Y.In Great MomentsLeave a comment
Flag of Cote D'Ivoire
Flag of Cote D’Ivoire

In Ivory Coast, the Australian company Resolute Mining announced on Monday, June 16, the discovery of a significant gold deposit in the department of Doropo, in the northeast of Ivory Coast, near the border with Burkina Faso. This new deposit has large reserves which are estimated at over 100 tons of gold, and represents a major advancement for the Ivorian mining sector.

During a meeting with Ivorian Prime Minister Robert Beugré Mambé, the CEO of Resolute Mining, Chris Eger, specified that the construction of the mine will begin in the first quarter of 2026, for a duration of two years. The planned investment amounts to 300 billion CFA francs (approximately 530 million USD).

Map of Cote d'Ivoire
Map of Cote d’Ivoire

Hummm, Isn’t it a bit suspicious that this large deposit is right near the border with Burkina Faso? We all know that these people plan over decades, so what if the location of the mine in the northeast is not only used for gold extraction, but also as a base for attacks in the neighboring country (U.S. military posture in Africa shifts while terrorist threats intensify)? It is no secret that Côte d’Ivoire is being used as a Western base against the countries of the AES (Mali, Burkina Faso, Niger). Moreover, for many years, people have mentioned the geological survey conducted by the UNESCO (or one of the UN-organization) on Africa which was never made public to African countries. Are we to think that the same Resolute Mining which owns the Syama gold mine in Mali or the Mako gold mine in Senegal, with mining permits in Guinea, never did a geological survey into neighboring Côte d’Ivoire before? Lastly, this is the same Resolute Mining which refused to pay taxes to Mali for years Mali wins $160m in Gold Mining Dispute; Has Côte d’Ivoire negotiated well, or were they too excited by the gold findings? Again, this is where unity would significantly help our countries… here Resolute Mining is signing in Côte d’Ivoire, if they were to sign with a smaller country, less developed, the government maybe so happy that they sign anything or do not negotiate well enough for their populations to benefit from this manna… and these contracts lasts for many many years!

Anyways, we applaud the findings in Côte d’Ivoire, and wish that the government would think of opening a refinery in their own country as well, and train its youths, like in Mali… oh wait… the government of Côte d’Ivoire does not like the Mali of Assimi Goïta!

Mali wins $160m in Gold Mining Dispute

On By Dr. Y.In Great Moments2 Comments

Flag of Mali
Flag of Mali

An Australian mining company, Resolute Mining, has agreed to pay Mali’s government $160 millions to settle a tax dispute. The company was operating in Mali and had significant back taxes it was refusing to pay. As we have seen before, many of these multinationals operate in many African countries, particularly French-speaking ones, without paying any taxes to local governments. This is an ongoing issue in many countries, where the multinationals operate freely, and pay taxes in their home countries, thus giving almost nothing to local governments and as we saw in the case of Niger, paying almost nothing for the resources. The Malian government arrested the British boss of Resolute Mining, Terry Holohan, and his 2 collaborators for 10 days at the end of which Holohan agreed to pay $80 millions immediately, and the remainder over some time. The Western media are in uproar about this, stating that Malians have used blackmail, and unorthodox methods. Quick question: What happens in Western countries, when someone does not pay taxes? Just ask Lauryn Hill or Wesley Snipes or Robert T. Brockman, to name a few … they will tell you that they ended up in jail! So why should it be different in Africa? Why is it okay for these multinationals to operate in our countries with carte blanche? Should they not be held to the same standards?

Excerpts below are from the BBC.

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Map of Mali with its capital Bamako

An Australian mining company, Resolute Mining, says it will pay Mali’s military government $160m (£126m) to settle a tax dispute, after the company’s British boss and two other staff were unexpectedly detained 10 days ago.

Reports say Terry Holohan and his colleagues were arrested while travelling to the capital city, Bamako, … Resolute, which owns a gold mine in Mali, said on Sunday it would pay $80m immediately from existing cash reserves, and the rest in the coming months.

Mali is one of Africa’s top gold producers. …

Part of the conditions for their release were that they must sign the memorandum of understanding and complete the initial payment, …

… Since taking power in a coup in 2021, Mali’s junta has sought to reconfigure its political and trade relationships with international partners.

Last year, President Col Assimi Goïta signed into law a new mining code increasing the maximum stake for state and local investors from 20% to 35%.