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.

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.

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

The three executives reportedly were taken to a unit specializing in the fight against corruption and economic and financial delinquency, and were placed in police custody

RESOLUTE Mining confirmed its CEO Terence Holohan, and two company employees, were detained by government officials in Mali on Friday. “The executives were in Bamako to hold discussions with the mining and tax authorities regarding general activities related to the company’s business practices in Mali in addition to progressing open claims which have been made

Resolute Mining CEO and executives detained in Mali while addressing concerns over in-country practices. Escalating risks for foreign mining operations.

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.

Three expat executives from Australian company Resolute Mining, which owns a gold mine in Mali, have been detained for questioning.