Mozambique Says in Talks With Rio Tinto Over Capital Gains Tax
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Mozambique’s government said it’s in talks with Rio Tinto Group over capital gains tax on the company’s $4.2 billion acquisition of Benga coal mines from Riversdale Mining Ltd. in 2011.
“The Riversdale-Rio Tinto business is still on the table,” Mozambique Tax Authority President Rosario Fernandes told reporters late yesterday in the capital, Maputo. “At some stage they have to follow local law” as the acquisition involved mining assets in Mozambique, she said.