West Africa-focused gold producer Resolute Mining has announced the resignation of CEO Terry Holohan, following his 10-day detention in Mali in November 2024.

The ASX-listed company has appointed interim CEO Chris Eger to the role permanently.

Holohan and two other Resolute employees were detained in Bamako while negotiating operational terms for the Syama gold mine with Mali’s military-led government. His release was secured after Resolute agreed to pay $160mn in instalments to settle a tax dispute with Malian authorities. Following his return, he took temporary leave in December 2024 before formally stepping down.

Resolute confirmed that discussions regarding Holohan’s exit terms are ongoing. Chris Eger, who has been the company’s CFO since February 2023, officially assumes the role of CEO, while Dave Jackson, formerly the group financial controller, takes over as CFO.

The leadership changes come amid a challenging operating environment in Mali. The military-led government, in power since 2021, has introduced a revised 2023 mining code, pushing for greater financial contributions from foreign miners. The new rules include government preference shares in projects and mandatory community development payments.

The uncertainty has impacted Resolute’s stock, which has more than halved since October 2024.

Despite the challenges, Resolute remains committed to optimising Syama’s operations, ramping up production and planning further expansion in 2025.