The Australian miner agreed to settle a tax dispute as it seeks to secure the release of its chief executive and two other employees detained in the West African country.

ASX-listed gold miner’s chief executive and two other staff remain held by Malian authorities after ransom-style shakedown.

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

Resolute Mining has reached a $160mn settlement with the Malian government to resolve a tax dispute that led to the detention of its chief executive in the African country. On Monday morning the Anglo-Australian gold miner said it had signed a memorandum of understanding with the government to settle claims related to tax,

Resolute Mining (ASX:RSG) – the miner whose CEO was recently detained in Mali by its junta government – has paid up its first US$80 million. According to Cboe Live pricing at 10.30am Sydney time, the stock was down 10%,