Zambia Billions... Zambian Revenue Authority have sent First Quantum an $8 billion tax bill https://www.reuters.com/article/us-zambia-tax/zambia-slaps-miner-first-quantum-with-8-billion-tax-bill-idUSKBN1GW2FD … For context: thats about 10x FQM spend on capex & opex at Kinsanshi mine last year & more than the whole government budget
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That's a bit simplistic Lars. Given the nature of high upfront capital investment, and the way tax systems deal with these costs- there can be absolutely non-ridiculous reason for a company to have a 0 bill for profit taxes.
Anyway, here is what is going on in Zambia with the FQM case, in case you are interested Zambia billions?https://www.linkedin.com/pulse/zambia-billions-maya-forstater …
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Do you find the facts stated in the film "Stealing Africa" on Glencore uncorrect?
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Stealing Africa makes the claim that if Zambia had received the same price for its copper that Switzerland received on re-exporting it "Zambia's GDP would have nearly doubled". That is ridiculoushttps://hiyamaya.wordpress.com/2014/07/11/swissploitation/ …
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