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.

Gold producer Resolute Mining has halted trading in its shares in Sydney pending a company announcement after last week’s detention of its chief executive, Terry Holohan, in Mali. Holohan and two other Resolute employees were detained in Bamako,

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,

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.

Gold miner Resolute Mining finds itself at the center of a broad shakeup of regulatory regimes across West Africa following the detention of the company’s chief executive in Mali, as cash-strapped governments seek to generate more revenue from their natural resources.

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