Africa’s biggest copper producer, Zambia, is planning to repatriate foreign currency made from exports back to the country in an effort to crack down on tax evasion, mainly in the mining sector, reports Financial Times.…
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Zambia corners mining companies to stop tax evasion
UK steel scandal in the heart of London
Privately-owned Stemcor says it is “the world’s largest independent steel trader”, playing “a pivotal role in the steel industry, acting as a trading intermediary and value-adding service provider. Our end-to-end services span every step in …
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Mongolia to charge Rio Tinto interest on tax owed by Oyu Tolgoi
Mongolia plans to start charging interest on allegedly unpaid tax owed by Rio Tinto Group’s Oyu Tolgoi LLC, as talks continue over the future of the $6.6 billion copper and gold mine, the nation’s mining …
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Vedanta among firms paying no UK corporation tax, despite profits of £1.1 billion
UK firms are to be forced to reveal where they pay tax. The Financial Mail on Sunday found that Vedanta paid nothing in UK tax last year despite profits of £1.1 billion. Company Chairman Anil …
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Guinea publishes mining deals online in transparency bid – affects Rio Tinto
Guinea’s government published contracts it has signed with mining firms including majors Rio Tinto and RUSAL in a bid for more transparency in a sector plagued by corruption and mismanagement.
See http://www.mineweb.com/mineweb/content/en/mineweb-fast-news?oid=178025&sn=Detail.…
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News from the South African Alternative Mining Indaba – protests from across Africa
Alternative Mining Indaba 2013
Civil society representatives gathered in a parallel event to South African’s Mining Indaba in Cape Town in early February. The official gathering styles itself as the “world’s largest mining investment conference.” …
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Zambia: State to probe siphoned corporate taxes
Washington-based group, Global Financial Integrity, in its report revealed that more than £5 billion (K40 trillion) had been illegally siphoned out of Zambia over 10 years, with most of it ending up in offshore banks …
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London Mining Network reaction to merger proposal of Glencore and Xstrata
London Mining Network press release
19 November 2012
On Tuesday 20 November, shareholders of mining giant Xstrata are due to vote on the proposed $33 billion takeover by Glencore. London Mining Network, a civil society …
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Government could extend Cerro Matoso negotiations with BHP Billiton in Colombia
Colombia’s mines and energy ministry (Minminas) is discussing an extension to negotiations of one of the contracts held by Anglo-Australian giant BHP Billiton for the Cerro Matoso ferronickel mine, mines and energy minister Federico Renjifo …
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EU politicians vote for tough anti-corruption law – will it work?
EU politicians vote for tough oil, gas anti-corruption law
European Union legislators have voted for a draft anti-corruption law, echoing rigorous U.S. rules to make oil, gas and mining firms declare payments they make in …
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South Africa’s ANC holds debates on mining tax reforms
But will they lead anywhere?
Among London-listed companies active in South Africa are Anglo American, AngloGold Ashanti, BHP Billiton, Coal of Africa Limited, Rio Tinto and Xstrata.
See http://www.minesandcommunities.org/article.php?a=11781.…
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Rio Tinto accused of “divide and conquer”
For a little over a decade, multinational mining companies have been scouring the Upper Peninsula of Michigan, looking for economic deposits of precious metals, uranium, and other minerals. Rio Tinto is the first company to …
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