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.

Australia's Resolute Mining said on Monday that it would pay $160-million to Mali's government to help resolve a tax dispute after the West African country detained its CEO Terence Holohan and two other employees this month.

RESOLUTE Mining has agreed to pay $160m to Mali in terms of a memorandum with the West African government in which it will also migrate its mining properties to the country’s newly legislated 2023 Mining Code.

Resolute Mining has inked an agreement to hand over the money to ensure the release of its chief executive and two staff being held by Mali’s military junta.

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