Mali is demanding Resolute Mining Ltd. pay about $160 million to resolve a tax dispute after the government detained the Australian gold producer’s chief executive, according to people familiar with the matter.

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,

Resolute Mining Limited (AU:RSG) has released an update. Resolute Mining Limited has confirmed the detention of its CEO, Terence Holohan, and

Resolute Mining's shares fell by 32% on Monday, their worst trading day in 16 years, after top executives at the Australian gold mining company were detained as part of a crackdown on foreign firms in Mali.

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

Shares of Australian gold miner Resolute Mining plunged more than 30 per cent on Monday after the company said its chief executive Terence Holohan and two other employees had been detained in Mali. The Resolute executives were in the capital Bamako to discuss with officials “open claims made against Resolute” that the group “maintains are unsubstantiated”,