Barrick Gold not affected by ZRA Tax Crackdown

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ZRA Headquarters
ZRA Headquarters

Barrick Gold Corporation says it has not been affected by the tax crackdown that has embroiled fellow Canadian miner First Quantum Minerals Ltd.

On Tuesday, First Quantum revealed that ZRA reassessed its equipment imports over six years, demanding almost $8 billion in interest, penalties, and reassessment charges.
Zambia which is Africa’s second-largest copper producer is planning to audit all mining companies operating in Zambia, which include units of Glencore Plc and Vedanta Resources Plc, as well as Barrick.

Barrick Gold Spokesman Andy Lloyd said by email that the Toronto-based company, which operates the Lumwana mine, hasn’t received any notifications from the tax authority regarding an audit or tax reassessment.

“In Zambia, as in every country where we operate, our focus is on building long-term partnerships with our host governments and communities, based on transparency and mutual respect,” he added.

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9 COMMENTS

    • It’s a revenue house. Rarely seen a mega till or cash machine which is in pristine condition. Guess there is a good reason they look diseased. The ones with a cap are plonked by a bush mound on the highway.

      Moment an effort is made to paint it, guess tax payers will cry foul on the expenditure choice of their money.

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  1. Barrick Gold the biggest tax cheats ever evading taxes. They have corporate accountants who siphon revenue to make it look like they are losing money. These guys have offices on the 51st expensive floor of a posh Toronto building and own private jets from Africa’s resources. They have a sophisticated scheme of tax evasion and dodged more than $40-million (U.S.) in corporate taxes. The subsidiary of the Toronto-based company had failed to pay any corporate taxes to African countries including Tanzania from 2010-2013 while still paying more than $400-million in dividends to its shareholders from its gold-mining profits in African. This organization have long been suspected of being a tax cheat, causing Africa to get less than its fair share of revenues from the mining sector.

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    • You are very right. This company is not only good at evading taxes but also has a serious cramp when it comes to their corporate social responsibility. FQM is visible everywhere they operate. Barwick has nothing to show off from. I live in Solwezi n frequent to Kalumbila. The whole way you won’t find anything this company has done to show off to the community they operate in. I wonder why this company is this heartless even where they are stealing from. Even its employees do not understand and are too embarrassed to work for this thieving company in the name of BARRICK Lumwana. It’s not too late to follow your friends FQML in their CSR. BARRICK a disgrace of a company. VIVA FIRST QUANTUM even if you steal you still plough back to the people not these thieves called BARRICK. I hate them…

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  2. USD 8 billion is outrageous how is ZRA coming up with that, even if its interests and penalties, its just outrageous, the total investments that FQM has done in Zambia at both KML and KMP does not even amount to that

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    • These BARRICK nincompoop are the biggest thieves.Chase them out.Never ploughing back in the community where they operate.They need to be investigated further. Am told they have a funny way of not wanting to own up to their CSR. Always using their silly and outdated policies.ZRA am sure you can find something to pin this thieving company. Anyone in North western can a test to the fact that they don’t care how they leave these communities when they are done with Mining.shame on you BARRICK Gold.i would never own shares in a company like this. BARRICK must fall.Thieves.

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  3. Zra be tough these guys ar3 crooks just some two days ago abnormal trucks about ten with bulldozers on them passed mutanda turn off I m sure they got them from another mine to come and show you that they bought those.
    where the op guys they have to sort out this mess I’ll.

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