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 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.

Mali’s military-led government has detained Terry Holohan, CEO of Australia’s Ltd. (ASX: RSG), along with two other company executives, marking a serious escalation in the

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.

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.

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