DAKAR, Senegal — Resolute Mining, an Australian gold mining company, announced on Monday that it would resolve a tax disagreement with Mali’s ruling military government by paying $160 million. This announcement comes a little over a week after the company’s CEO, Terence Holohan, along with two other executives, were detained in Mali.

The detentions occurred on November 8 in the capital city, Bamako, during their visit for discussions related to an unclear dispute. The reasons behind their detention have not been made public by the Malian government.

In a statement released on Resolute Mining’s website, non-executive chairman Andrew Wray confirmed that all claims from Malian authorities against the company, which include issues regarding tax, customs charges, and the management of offshore accounts, have now been resolved. He outlined that the payment consists of $80 million from current cash reserves, with an additional $80 million to be paid in the months ahead.

The company reassured stakeholders that the detained executives were “safe and well” and mentioned ongoing cooperation with Malian authorities to secure their release. Resolute Mining has been actively involved in Mali’s Syama gold mine, a major operation located in the southwestern part of the country. The firm holds an 80% ownership stake in the mine, with the Malian government owning the remaining 20%.

This incident highlights the ongoing tensions in Mali’s mining sector, which is vital to the nation’s economy and is increasingly being monitored by military leaders. In a related situation, four employees of the Canadian mining firm Barrick Gold were also detained for several days in September.

Mali ranks among the top gold producers in Africa but has faced persistent challenges, including militant violence and widespread poverty and hunger. Following the military takeover in 2020, the junta has intensified scrutiny of foreign mining operations as part of its efforts to strengthen government finances.