Mozambique: Workers on strike at Moatize coal mine - AIM | Watch
O País (File photo) / Amélia Nakhare, president of Mozambique's Tax Athority
The Mozambican tax authority says that it is negotiating capital gains tax payments with several companies, including Vale Mozambique. Details of the mining company’s deal with Mitsui are not yet known, but the tax authority expects to receive revenue.
Authority president Amelia Nakhare has not revealed the amount concerned, but says it is significant.
A deal reached between Vale and Mitsui in 2014 committed the Japanese group to paying US$450 million for a 15 percent stake in Vale’s Moatize mine and over US$313 million for half its 70 percent stake in the Nacala corridor.
The Tax Authority head confessed that it was often through the media that it learned of trading in companies’ business assets.
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