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.

The Mali government is demanding a $162 million tax settlement from Resolute Mining, causing tensions with foreign mining companies and impacting the global gold supply.The Mali government demands $162M tax settlement from Resolute Mining,

The Australian gold producer’s CEO was detained in Mali last week following discussions with the African nation’s tax authorities

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,

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.

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.

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,