Resolute Mining (ASX:RSG,LSE:RSG) confirmed on Monday (November 11) that its CEO Terence Holohan and two company executives have been detained in Mali, West Africa, following weekend news articles on the detention.

Resolute Mining Ltd. suspended trading after Mali demanded the Australian gold miner pay about $160 million to resolve a tax dispute that’s seen its chief executive officer detained.

Chief Executive Terence Holohan and two other employees have been detained by government officials in Mali, where the Australian company runs gold-mining operations.

Trading in Resolute Mining ( OTCPK:RMGGF) ( OTCPK:RMGGY) was suspended in Australia on Thursday as Mali's government demanded the company pay more than $160M to resolve a tax dispute that has resulted in the arrest of CEO Terence Holohan.

Resolute Mining suspended trading after Mali demanded the Australian gold miner pay about $160-million to resolve a tax dispute that’s seen its chief executive officer detained. The company’s shares in Sydney were suspended pending an announcement,

CEO Terry Holohan, along with two other company executives have been detained by the military-led government in Mali. What Happened: The executives traveled to Bamako, Mali's capital, for meetings with local mining and tax authorities to address concerns over the company's in-country practices.

Shares in Australia’s Resolute Mining Ltd. plunged more than 30% on Monday after the gold producer confirmed Chief Executive Officer Terry Holohan and two other employees were unexpectedly detained in Mali late last week.

Mali’s military junta — crippled by sanctions and cut off from Western aid — is at the forefront of the push, aggressively pursuing both Resolute and Barrick Gold.

Mali’s military-led government has detained Terry Holohan, CEO of Australia’s Ltd. (ASX: RSG), along with two other company executives, marking a serious escalation in the