Australia's Resolute Mining announced that its CEO, Terence Holohan, and two other employees have been released by the Malian government after being detained earlier this month. The executives were held in Mali's capital, Bamako, for discussions with mining and tax authorities concerning the company's business practices.

The release comes after Resolute agreed to pay $160 million to the Malian government to resolve a tax dispute. The company has already paid $80 million as an initial settlement, with the balance to be disbursed from existing liquidity sources in the coming months.

The deal is significant, as Mali's junta has been pushing mining companies to renegotiate their contracts, following the introduction of laws that boost the state's share of mining profits. Other mining companies, such as Allied Gold Corp. and B2Gold Corp., have also reached agreements with the Malian government, agreeing to payments of around $116 million and $204 million, respectively.