Mali is demanding Resolute Mining pay up to resolve a tax dispute after its government detained the gold miner’s chief executive, according to people familiar with the matter.

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

CEO Terry Holohan and other company executives were taken by Mali’s junta over the weekend, said Bloomberg sources.

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.

A military junta has detained the CEO and two other executives of Australian gold miner Resolute Mining over a royalties dispute in the West African nation of Mali. Terry Holohan, CEO of West Australian-based Resolute, and two other staff were detained by Malian authorities on Friday following a meeting in the capital, Bamako.

Terry Holohan, chief executive officer of Australian gold miner Resolute Mining Ltd., has been detained by the military-controlled government of Mali in West Africa, according to people with knowledge of the matter.

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.