Grant Thornton unearths miner tax 'evasion'
Glencore firm under suspicion of tax evasion in the Zambian mining industry
COMMODITIES GIANT Glencore is under the microscope again after the Zambian government drafted in Grant Thornton to examine the tax affairs of Mopani, its second-biggest miner.
It found Mopani under-priced the copper it sold to Glencore – its only customer – in order to slash its tax bill; there were also accusations of personal costs being inflated.
Zambia has called on Mopani to repay the taxes it “evaded”, while Glencore denies the allegations.