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Anglo unit says tax lull threatens Zimbabwe platinum operation





HARARE (Bloomberg) — Anglo American Plc’s platinum operation in Zimbabwe asked the high court to intervene in a bid by the nation’s tax authority to seize $24 million in a dispute over royalties.

Unki Mines Ltd., owned by Anglo American Platinum Ltd., lodged an urgent court application against Zimbabwe Revenue Authority, which has sought to garnish funds from the company’s account at the local unit of Standard Bank Group Ltd.

“The garnishing of the applicants account threatens its very survival as it has been left unable to conduct its normal business,” Unki Mines said in an urgent application to the high court.

The Anglo American business said the action taken by Zimra, as the tax agency is known, is unlawful. The case dates back to 2018, when the tax authority alleged that Unki was underpaying mining royalties. While the company later paid those disputed royalties in local currency, it said the tax authority is demanding payment in dollars.

Calls to Zimra weren’t immediately answered.




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