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Friday, Oct 11
BHP in tax dispute with Colombia
- BHP Billition (BHP) underpaid royalties in Colombia by listing items such as jewelry and entertainment among production costs, according to the preliminary findings of a government audit.
- By its unusual expense claims, BHP’s Cerro Matoso ferronickel mine underpaid 62B pesos ($33M) in taxes between 1998 and 2003 when adjusted to today’s prices, the government says.
- The audit comes as BHP seeks to expand the world’s second biggest ferronickel mine and faces community protests over alleged pollution.