Perth gold miner Terry Holohan detained in West Africa

The billionaire CEO of WA-based golden mining institution has reportedly been detained by the military-controlled authorities successful West Africa’s Mali.

Terry Holohan on with different executives astatine Resolute Mining were taken by Mali’s junta implicit the weekend, according to individuals who spoke connected the information of anonymity, Perth Now reported.

The mining institution has declined to remark connected the matter, arsenic has a subordinate of Mali’s mining ministry, the work said.

The reported detention followed 4 employees of chap golden mining institution Barrick Gold Corp being arrested successful October.

Mali’s junta staged a coup d’état successful August 2020 and successful seized full powerfulness of the state successful different coup successful May 2021.

Since then, planetary miners successful the state person been nether increasing pressure.

Resolute Mining precocious accrued accumulation astatine its Syama task successful a $52 cardinal expansion, successful the nation’s southeast up of a planned 2nd signifier rollout successful 2025.

Mr Holohan took connected the enactment relation successful 2021 amid sizeable fiscal challenges and operational issues, notably astatine the Syama excavation successful Mali.

Since taking connected the role, helium has worked to stabilise operations, restructure debt, and amended Resolute’s currency flow.

His efforts person improved the company’s fiscal position, but whitethorn person strained its relations successful West Africa.

The Syama excavation enlargement was expected to summation golden accumulation to much than 7000 kilograms (250,000 ounces) annually portion besides extending the mine’s lifespan.

Mr Holohan’s vocation spans implicit 40 years, opening successful the 1980s successful Zimbabwe and South Africa.

Before joining Resolute, helium held elder roles successful assorted mining companies, including positions astatine Ivanhoe Nickel and Platinum, and Anglo American Platinum.

His nett worthy successful 2020 was estimated to beryllium $11 billion,