Peruvian Mine Defends Paying $42M Tax Bill In Glencore Row

Law360, London (July 21, 2020, 6:15 PM BST) -- A Peruvian mine owner defended its decision to pay tax collectors more than $40 million following its takeover of Glencore's copper operation, telling a London judge on Tuesday that delaying ahead of a legal challenge could have strangled its cash-flow. 

At a High Court hearing, counsel for Minera Las Bambas SA said Australian mining giant Glencore International should indemnify it for a $42 million tax bill paid to Peruvian authorities in July 2018.

Peruvian tax officials gave it just three days to pay the tax bill, which was linked to Minera's $5.8 billion purchase of Glencore's copper mine, Fionn Pilbrow QC...

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