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

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

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.

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.

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 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.