Miner and trader Glencore has won a dispute with Australia’s tax office after a court ruled it had paid the correct amount of tax on purchases of copper concentrate from a mine that it owns in New South Wales state.
Australia’s tax commissioner alleged that Glencore’s Swiss head office had failed to pay market rates for the copper it bought from its CSA mine in 2007, 2008 and 2009, and raised its assessment of tax owed by A$92.6-million ($62.5-million).