Rock Teck advances site preparation for lithium converter project in Germany
Once complete, the Guben converter will be the first of its kind in Europe, with expected annual production of 24,000 tonnes of lithium hydroxide.
Italian authorities are investigating Glencore Xstrata Plc (LON: GLEN) for alleged tax evasion of more than $158 million.
Glencore told Bloomberg in a written statement Monday that authorities are reviewing transactions between its unit in Italy and its larger unit in Switzerland.
The company said all transactions were conducted according to Italian tax law and their unit is co-operating to bring the review quickly to a close.
Authorities allege Glencore hid profits by paying other units above-market prices for raw materials. Their interest in the international company was peaked since the Italian unit has never declared profit, only fiscal losses, and the Swiss parent unit has registered profits.
Glencore is the world’s largest exporter of thermal coal.
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Comments
Justin Punk
they should hire the best Tax Deed investigator to solve this case i think.thanks for sharing the news here with us.