| Zambia concludes mine tax audits after slapping huge bill on First Quantum | |
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LUSAKA, May 7 (Reuters) - Zambia concluded audits of mining companies that prompted the nation to slap Canadian miner First Quantum Minerals with a tax bill of over 76.5 billion Zambian kwacha ($8 billion), its revenue authority said on Monday. First Quantum, which owns two copper mines in Zambia, said in March that Zambia's tax agency had demanded the taxes, saying they were on import duties, penalties and interest on consumables and spare parts. There are dozens of mining companies operating in Zambia, mainly extracting copper. The ZRA said on Monday it had audited all the major mining companies in Zambia and informed them what they owed. "The results of the customs audit have since been communicated in writing to our tax payers. Some of them are responding, while others have asked for more time which we have since granted," said in a statement. "Please note that this is a normal audit process and that the authority is not targeting any particular company." ZRA said it would issue another update once the audit process was completed. Other major mining companies operating in Zambia include Vedanta Resources, Barrick Gold Corp and Glencore. ($1 = 10.0000 Zambian kwachas) (Reporting by Chris Mfula Editing by James Macharia) |
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Vedanta Resources PLC
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PRODUCER |
CODE : VED.L |
ISIN : GB0033277061 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Vedanta Res. is a zinc and lead producing company based in United kingdom. Vedanta Res. produces zinc, lead, bauxite, copper and gold in Armenia, in Australia, in India and in Zambia, develops lead and zinc in India. Its main assets in production are KONKOLA in Zambia, MT LYELL in Australia, ZOD in Armenia and MAINPAT, RAMPURA AGUCHA, RAJPURA DARIBA, ZAWAR and KAYAR in India, its main asset in development is SINDESAR KHURD in India and its main exploration property is BAMNIA KALAN in India. Vedanta Res. is listed in Germany and in United Kingdom. Its market capitalisation is GBX 227.1 billions as of today (€ 195.8 billions). Its stock quote reached its highest recent level on February 03, 2006 at GBX 999.98, and its lowest recent point on September 28, 2018 at GBX 832.60. Vedanta Res. has 272 776 398 shares outstanding. |