[miningmx.com] – MOZAMBIQUE is hoping to recover capital gains from Rio Tinto following its $4.2bn acquisition of the country’s Benga coal mines from Riversdale Mining in 2011, said Bloomberg News.
“The Riversdale-Rio Tinto business is still on the table,’ Bloomberg News citing Mozambique Tax Authority President Rosario Fernandes to have said in a briefing with reporters in Maputo. “At some stage they have to follow local law’ as the acquisition involved mining assets in Mozambique, she said.
Rio Tinto spokesman, David Outhwaite said the company had complied with Mozambique’s applicable tax legislation having paid $4m in tax last year. Mozambique expects to more than double the $1.3bn it raised from capital gains tax on five deals since 2012 with another 10 transactions pending, said Fernandes.
Click here to read the full article
