South32 suffers legal setback in marathon tax dispute with Colombia
South32's legal battle with Colombia will extend into a fifth year after authorities in Bogota appealed a World Bank decision that the government had unfairly imposed taxes and royalties on the Cerro Matoso nickel operation, which the Australian miner wants to sell.
In June last year, the International Centre for Settlement of Investment Disputes, the World Bank's dispute resolution body, found that Colombia had breached the terms of an international investment treaty when it retrospectively imposed taxes and royalties on Cerro Matoso in 2019.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Age
38 minutes ago
- The Age
Neil Perry to replace Song Bird with Italian restaurant
'With Song Bird, we missed the mark by creating a three-level Chinese restaurant in Double Bay. Now, we've got the size right over two levels, and – just as importantly – acoustics that have finally been tamed, we're ready to move forward into a new future,' said Perry in a statement. 'The change to Gran Torino will be a better fit with Margaret, and the more approachable menu and laidback setting will have people wanting to return time and time again for drinks, casual bites, and celebrations.' After the initial success of Margaret and its sibling venues Next Door and Baker Bleu, Perry seemingly couldn't put a foot wrong in Double Bay. But the next step in the 'Perryfication' of the exclusive suburb proved to be more challenging. Perry and his team splashed $13 million on the four-level Neville Gruzman building on Bay Street that housed Song Bird and Bobbie's jazz bar. Last month Perry closed Bobbie's, a joint venture with New York-based Australian bar tsar Linden Pride, and relinquished the top floor of Song Bird, which was used for functions. Perry said at the time: 'Song Bird is absolutely not closing.'
AU Financial Review
44 minutes ago
- AU Financial Review
Markets asleep at the wheel as tariff D-Day looms
With just two weeks to go before US President Donald Trump's global tariffs deadline, financial markets are clinging to the hope of further delays as countries try to hash out a deal with America. But strategists are warning of 'complacency' in the market with investors underestimating the potential for a more punitive outcome, leaving both the Australian dollar and the sharemarket vulnerable to a sell-off.
Sydney Morning Herald
an hour ago
- Sydney Morning Herald
Neil Perry to replace Song Bird with Italian restaurant
'With Song Bird, we missed the mark by creating a three-level Chinese restaurant in Double Bay. Now, we've got the size right over two levels, and – just as importantly – acoustics that have finally been tamed, we're ready to move forward into a new future,' said Perry in a statement. 'The change to Gran Torino will be a better fit with Margaret, and the more approachable menu and laidback setting will have people wanting to return time and time again for drinks, casual bites, and celebrations.' After the initial success of Margaret and its sibling venues Next Door and Baker Bleu, Perry seemingly couldn't put a foot wrong in Double Bay. But his next step in the 'Perryfication' of the exclusive suburb proved to be more challenging. Perry and his team splashed $13 million on a four-level Neville Gruzman building on Bay Street which would house Song Bird, and Bobbie's jazz bar. Last month Perry closed Bobbie's, a joint-venture with New York based Australian bar tsar Linden Pride, and relinquished the top floor of Song Bird, which was used for functions. Perry said at the time: 'Song Bird is absolutely not closing.'
