The Malawi Government also claims interest at the commercial lending rate from the date the said taxes and royalties fell due to the date of payment within 30 days from the date the notice of claim was issued on July 26, 2022.
The Attorney General says the first company that was issued with a Mineral Exploration Licence for Chimwadzulu mine was Mineral Exploration Pty Limited in 1994 -- a 10-year licence up to 2004 and the company had a 100% foreign shareholding, with York Fidelity of Singapore as the main shareholder. The government of Malawi indicates that ruby and sapphire at Chimwadzulu Mine are mined and sold to the world market by Nyala Mines Limited through Columbia Gem House in the USA, which then sends it to China for cutting and polishing.
"Between 15th August, 2008 and 30th July, 2013, Nyala Mines Limited paid taxes amounting to MK604,413.13 -- yet according to the USA Department of Interior, Nyala Mines exported 150kg of ruby and rare Padparadscha and 300kg of sapphire every year.
Source: News Formal (newsformal.com)
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