GLENCORE Xstrata’s Zambian copper mine is back in the spotlight after campaigners complained to the European Investment Bank (EIB) over a secret report into whether the firm evaded tax.
The EIB suspended loans to the company’s Mopani subsidiary two years ago amid allegations of tax evasion and pollution, but has refused to publish its findings or resume lending.
Anti-poverty group Christian Aid has complained to the European Ombudsman about the decision, which it said was at odds with the bank’s transparency policy.
Tax Justice Network Africa campaigner Alvin Mosioma, said: “By not publishing this report, the bank is raising the question of what it is hiding.”
Glencore says the tax allegations were based on a flawed report.
The Zambian parliament’s select committee on business, innovation and skills resumed its inquiry yesterday into natural resources companies, including Glencore. – Daily Mail