Resolute Mining says it will pay Mali $160 million in tax dispute
The company’s shares in Sydney were suspended on Thursday, after tumbling 40% since news of the detention of CEO Terry Holohan.
One of the contributors to the low gold prices of the 1970s was substantial hedging of forward output by mining companies, either as corporate policy, or at the insistence of lending institutions who wished to protect their positions should the price fall further.
Conversely, a contributor to the rise in gold prices over the past few years has been very substantial de-hedging by, in particular, the gold majors, which has effectively soaked up some gold demand, as belief grew that the run up in the gold price had much further to go.
