Resolute Mining
An Australian-listed gold mining company focused on operating mines in Africa.
Last updated August 22, 2026
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Overview
Resolute Mining Limited is an Australian gold producer headquartered in Perth, Western Australia, and listed on the Australian Securities Exchange under the symbol RSG. The company focuses on the exploration, development, mining, and processing of gold, with its current operating portfolio concentrated in West Africa. Its principal assets are the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal. The corporate group traces its history through a sequence of Australian exploration and mining companies. Its predecessor, originally incorporated as Samantha Exploration NL in 1983, changed its name to Samantha Gold NL in 1990. In 1994, Samantha Gold acquired its parent, Resolute Resources NL, and later became Resolute Samantha Limited. The business merged with Associated Gold Fields NL in 1996, acquiring the Obotan mine in Ghana, and subsequently adopted the name Resolute Limited. Resolute Mining Limited was incorporated in 2001 and became the successor company through a corporate reorganisation that acquired Resolute Limited. Resolute expanded its production base through acquisitions. In 2004, it purchased the Ravenswood Gold Mine in Queensland, Australia, from Xstrata and acquired the Syama Gold Mine in Mali from Randgold Resources. Syama became a central asset in the company’s long-term strategy and represents its principal large-scale mining operation. The company also acquired the Bibiani project in Ghana in 2013 and obtained full ownership the following year after receiving government approval. Resolute exited its remaining Tanzanian interests in 2015 after the closure of the Golden Pride Gold Mine. In 2019, Resolute acquired Toro Gold and its Mako Gold Mine in Senegal for approximately US$305 million, strengthening its position as an African gold producer. The company sold Ravenswood in 2020 to a consortium involving EMR Capital Management and Golden Energy and Resources. After that transaction, Resolute’s producing assets were located exclusively in Africa. Resolute’s proposed sale of Bibiani to China’s Chifeng Jilong Gold Mining was not completed after Ghana cancelled the mine’s lease in 2021. Bibiani was subsequently sold to Canada-based Asante Gold in August 2021. Resolute’s business is exposed to the operational, political, regulatory, fiscal, infrastructure, and security conditions of the countries where it operates. The company’s 2024 dispute with Mali, involving the detention of senior employees during negotiations over alleged tax liabilities, highlighted the importance of government relations and fiscal stability to its operating model. The company agreed to make a payment demanded by Mali’s military government, and the detained employees were later released. Resolute continues to present itself as a gold producer with a focused African operating portfolio, anchored by Syama and Mako.
History
Resolute Mining’s corporate history developed from a chain of Australian exploration and gold-mining businesses. The earliest predecessor identified in the company’s history was Samantha Exploration NL, incorporated in 1983. It adopted the name Samantha Gold NL in January 1990. In 1994, Samantha Gold acquired its parent company, Resolute Resources NL, beginning the sequence of corporate reorganisations that produced the Resolute identity. On 21 July 1995, the business was renamed Resolute Samantha Limited. In January 1996, it completed a friendly merger with Associated Gold Fields NL and acquired the Obotan mine in Ghana. The company changed its name to Resolute Limited in November 1996. Resolute Mining Limited was incorporated on 8 June 2001 and subsequently became the successor to Resolute Limited through a scheme of arrangement dated 22 June 2001. The company expanded through a series of mine acquisitions in the 2000s. In January 2004, it bought the Ravenswood Gold Mine in Queensland from Xstrata for approximately US$45 million. In July of the same year, it acquired the Syama Gold Mine in Mali from Randgold Resources for approximately US$6 million. Syama became a defining asset for Resolute and remains one of the company’s two operating mines. Resolute acquired the Bibiani gold project in Ghana from Noble Mineral Resources in December 2013 and obtained full ownership in 2014 following Ghanaian government approval. The company’s Tanzanian operations contracted after the Golden Pride Gold Mine closed in 2013, and Resolute divested its remaining Tanzanian assets and interests in 2015. In 2019, Resolute broadened its West African platform by acquiring Toro Gold and the Mako Gold Mine in Senegal for approximately US$305 million. The following year it sold Ravenswood to EMR Capital Management and Golden Energy and Resources. This divestment left Resolute with an Africa-only producing portfolio. The Bibiani asset became subject to a complicated ownership transition. Resolute attempted to sell the mine to China’s Chifeng Jilong Gold Mining for approximately US$105 million, but Chifeng cancelled the transaction after Ghana cancelled Resolute’s lease in 2021. Resolute then sold Bibiani to Asante Gold in August 2021 for approximately US$90 million. In November 2024, Mali detained three Resolute employees, including chief executive Terry Holohan, during meetings in Bamako concerning an alleged tax debt of 100 billion CFA francs. The Australian Securities Exchange halted trading in Resolute shares at the company’s request. Resolute agreed on 18 November to pay the amount demanded by Mali’s military government, and reported on 21 November that all three employees had been released. The episode underscored the political and fiscal risks attached to the company’s West African operating model.
- 2024
Mali tax dispute and executive detention
[1]Three Resolute employees were detained in Mali during a dispute over alleged unpaid taxes before being released after the company agreed to a payment.
- 2021
Bibiani sold to Asante Gold
[1]Following the collapse of the proposed Chifeng transaction, Resolute sold Bibiani to Asante Gold.
- 2020
Ravenswood divested
[1]Resolute sold Ravenswood, leaving its remaining mines located in Africa.
- 2019
Toro Gold acquisition
[1]Resolute acquired Toro Gold and the Mako Gold Mine in Senegal.
- 2015
Exit from Tanzania
[1]The company divested its remaining Tanzanian assets after the closure of Golden Pride.
- 2013
Bibiani project acquired
[1]Resolute purchased the Bibiani gold project in Ghana from Noble Mineral Resources.
- 2004
Acquisition of Ravenswood and Syama
[1]Resolute acquired the Ravenswood Gold Mine in Australia and the Syama Gold Mine in Mali.
- 2001
Resolute Mining Limited incorporated
[1]Resolute Mining Limited was incorporated and became the successor to Resolute Limited through a corporate reorganisation.
- 1996
Merger with Associated Gold Fields
[1]Resolute Samantha merged with Associated Gold Fields and acquired the Obotan mine in Ghana.
- 1990
Samantha Exploration changes name
[1]Samantha Exploration NL was renamed Samantha Gold NL.
Products and positioning
A focused Australian-listed gold producer operating principally in West Africa, with an emphasis on large-scale mine development, production, exploration, and processing.
Gold mine · 2004
Syama Gold Mine
Syama is Resolute Mining’s major gold operation in Mali and one of the defining assets in its portfolio. The company acquired the mine in 2004 from Randgold Resources. Syama combines underground and open-pit mining activities with ore processing and has served as a foundation for Resolute’s long-term West African production strategy.
Gold mine · 2019
Mako Gold Mine
Mako is a gold mine in Senegal acquired by Resolute through its 2019 purchase of Toro Gold. The asset expanded the company’s operating presence in West Africa and remains one of Resolute Mining’s two current producing mines.
Gold project · 2013
Bibiani Gold Project
Bibiani was a Ghanaian gold project acquired by Resolute from Noble Mineral Resources in 2013. Resolute obtained full ownership in 2014, but the proposed sale to Chifeng Jilong did not complete after Ghana cancelled the company’s lease. Resolute sold the project to Asante Gold in 2021.
Gold mine · 2004
Ravenswood Gold Mine
Ravenswood was a gold mine in Queensland, Australia, acquired by Resolute from Xstrata in 2004. Resolute sold the operation in 2020 to buyers including EMR Capital Management and Golden Energy and Resources.
Controversies
2024
Mali tax dispute and detention of executives
Malian authorities detained three Resolute Mining employees, including the chief executive, during negotiations over an alleged tax liability of 100 billion CFA francs. The company agreed to pay the amount demanded, after which the employees were released. The incident attracted attention because it combined a major fiscal dispute, executive detention, trading suspension, and heightened political risk at the company’s principal operating jurisdiction.
Brand decisions
2024
Resolve Mali tax disputeOtherBackground
Mali alleged that Resolute owed 100 billion CFA francs in back taxes after authorities detained three company employees.
Action taken
Resolute agreed to pay the amount demanded by Mali’s military government and later confirmed that the detained employees had been released.
Aftermath
The event led to a temporary halt in trading of Resolute shares at the company’s request and underscored the political and fiscal risks of operating in Mali.
Alleged tax liability and agreed payment. 100 billion CFA francs (November 2024)
2021
Sell Bibiani to Asante GoldM&ABackground
A proposed sale of Bibiani to Chifeng Jilong failed after Ghana cancelled Resolute’s lease for the mine.
Action taken
Resolute sold Bibiani to Asante Gold for approximately US$90 million.
Aftermath
Resolute exited the Bibiani asset and continued with its focused African operating portfolio.
Sale price. Approximately US$90 million (2021)
2020
Divest RavenswoodM&ABackground
Resolute restructured its portfolio around African gold operations.
Action taken
The company sold Ravenswood to EMR Capital Management and Golden Energy and Resources.
Aftermath
Resolute’s remaining mines were located in Africa.
2019
Acquire Toro Gold and MakoM&ABackground
Resolute sought to expand its African production base and acquire a producing Senegalese asset.
Action taken
The company acquired Toro Gold, including the Mako Gold Mine, for approximately US$305 million.
Aftermath
Mako became one of Resolute’s two current operating mines and strengthened its West African focus.
Acquisition price. Approximately US$305 million (2019)
Recent events
Chifeng Gold terminates Mensin Bibiani acquisition agreement[3]
Chifeng Gold said its board approved terminating the share transfer agreement for the acquisition of 100% of Mensin Bibiani Pty Ltd. It said Chijin Hong Kong had paid an advance to seller Resolute Mining Limited and that it would seek repayment of the advance and applicable interest.
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