[miningmx.com] – GLENCORE’S Zambian business, Mopani Copper Mines, has suspended part of $800m in projects after the southern Africa government withheld $200m in tax refunds, said Reuters in an article republished by BDLive.
“I would like to express my concern and distress that the continued withholding of our refunds to the tune of $200m may force us to slow down progress on these projects,” Mopani CEO, Danny Callow, said in a statement.
The issue relates to demands from the Zambian authorities to see proof of sale of copper in the country to which the metal is eventually exported. Glencore says this is impossible because it sells through traders and doesn’t know where the metal ends up.
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