11 hours ago
- Business
- AU Financial Review
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.
