Zim platinum miner in a tax row with authorities

Anglo American's platinum operation in Zimbabwe, Unki Mines has filed an urgent high court application against the Zimbabwe Revenue Authority, which sought to garnish funds from the company’s local account over a royalties dispute.
Bloomberg reports that the tax agency wants to garnish $24 million from Unki’s Standard Bank account.
“The garnishing of the applicant's account threatens its very survival as it has been left unable to conduct its normal business,” Unki Mines was quoted as saying in its court papers.
It said the move by the Zimbabwe Revenue Authority (Zimra), which collects tax on behalf of Harare, was unlawful.
Zimra alleged in 2018 that the Anglo American unit was underpaying mining royalties.
Although Unki later paid the disputed royalties in local currency, it said the tax agency was demanding payment in dollars.
Unki Mines, owned by Anglo American Platinum, lodged an urgent court application against the Zimbabwe Revenue Authority, which has sought to garnish funds from the company’s account at the local unit of Standard Bank Group.
Unki produced about 120 000 ounces of platinum group metals in the first half of 2022, an increase of 21% compared to about 990 000, a year earlier.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished