22 January 2018
   
Winky D gives voter registration oomph
Cholera: Zim on high alert as 4 killed
ANC confirms Zuma exit discussion
Government orders blood price reduction
- One day’s supply left of key blood group
Kasukuwere begs ED for forgiveness: official
Chinamasa to divert wages to devolution
Dump Mugabe regalia, Zanu PF official
MORE NEWS
Gemmology center in Mutare soon
NRZ loss as gold miners damage rail line
MORE BUSINESS
Unpaid Mr ugly reports sponsors to ZRP
Zim author releases new book in USA
MORE SHOWBIZ
Billiat might still leave: Sundowns coach
Anger as Dembare approach City player
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Anglo American plots Zimbabwe tax avoidance
20/07/2015 00:00:00
by Bloomberg
 
 
RELATED STORIES

JOHANNESBURG: Anglo American Platinum said it plans to build a “secondhand” smelter in Zimbabwe as the world’s largest producer of the metal seeks to avoid paying a 15 percent tax on exports of unprocessed minerals from the nation.

The company will use “all sorts of bits and bobs around the company” to build a smelter at its Unki mine in Zimbabwe, CEO Chris Griffith said.

It halted exports of metal concentrate from the country to South Africa after negotiating with the government over the tax that came into effect in January, the producer said in a statement.

Exports resumed in July following a deal to postpone the tax, it said.

“We’ll be coming up with what we think is an optimal low-capital solution to smelting and thereby avoiding the 15 percent beneficiation tax,” Griffith said at a presentation in Johannesburg Monday.

Zimbabwe’s government has repeatedly warned miners of the precious metal that taxes and royalties will be raised unless the mineral is smelted in the country, rather than in neighboring South Africa.

Producers operating in the nation include the Anglo American unit and Impala Platinum Holdings, the world’s two biggest producers of the metal.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker