Shares in Resolute Mining Ltd (ASX:RSG, LSE:RSG) opened 8% higher after confirming it had paid $50 million to the Government of Mali the second instalment of a $160 million settlement reached after the detention of its CEO and two other executives earlier this month.
The ASX and LSE-listed group agreed to the payment as part of negotiations to resolve a tax dispute with the West African nation.
The executives, including CEO Terence Holohan, were released a week ago following discussions in Mali's capital, Bamako, regarding the company’s business practices.
Resolute has already paid $80 million of the settlement and expects to pay the remaining $30 million by the end of 2024.
Operations at the Syama Gold Mine, which accounts for nearly two-thirds of Resolute’s annual gold sales, have continued uninterrupted during the dispute.
In early trading, the stock was up 1.76p at 23.56p.