CEO of the Australian Resolute Mining company Terence Holohan and two of the company's employees were detained in Mali on Friday, the press office of the company said in a statement.
"The executives were in Bamako to hold discussions with the mining and tax authorities regarding general activities related to Resolute’s in-country business practices, and to progress open claims made against Resolute, which the Company maintains are unsubstantiated," the statement said on Monday.
Also on Monday, following the news, shares of the mining company drastically went down in price, a Western news outlet noted. According to the report, the cost of shares decreased significantly by 32%. It has been described as the worst index for Resolute Mining since 2008.
In late September, four senior Malian employees of Barrick Gold, the world's second-largest gold miner and one of Mali's top gold producers, have been arrested in Mali on charges of financial crimes, reports said. Later, they were released after the agreement made between Barrick Gold and the Malian government.
Malian ministries of Mines and the ministry of Economy said in a joint statement in late October that Canadian company Barrick Gold violated the agreement with the country's government made at the end of September over the Gounkoto-Loulo gold mine complex that is located in the western part of Mali, 350 km west of the capital city of Bamako.