Zambia: Zambia must launch copper mining tax probe, says Christian Aid partner

A subsidiary of one of the world's largest commodity trading companies stands accused of a series of tax irregularities in Zambia - a desperately poor developing country where life expectancy is 47 and tax revenues are urgently needed. According to a leaked auditors' report, the copper and cobalt mining company Mopani Copper Mines Plc may be using derivatives trades to shift profits out of Zambia in order to minimise its tax bill in the country. Swiss giant Glencore International AG has a 73 per cent interest in Mopani through one of its subsidiaries.