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.

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.

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.

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

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.

RESOLUTE Mining confirmed its CEO Terence Holohan, and two company employees, were detained by government officials in Mali on Friday. “The executives were in Bamako to hold discussions with the mining and tax authorities regarding general activities related to the company’s business practices in Mali in addition to progressing open claims which have been made

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.