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Glencore unit suspends Zambia copper projects over tax row

Reuters - UK Focus

JOHANNESBURG, Oct 1 (Reuters) - Glencore (Xetra: A1JAGV - news) -owned Mopani Copper Mines has suspended some of its planned $800 million Zambian copper mining projects after the government withheld $200 million in tax refunds, the company said on Wednesday.

Zambia is withholding a total of $600 million in VAT refunds owed to copper mining companies and will only repay the cash when they produce import certificates from destination countries, the minister of mines said in June. (Reporting by Chris Mfula; Editing by Joe Brock and David Dolan)