Attorney General says Malawians will get back K400 trillion from a US Mining firm soon
December 26, 2022
Ezra Mtimuni - Nyasa Times 4 Comments
Malawi is geared to soon get back around $309 billion (approximately close to K400 trillion) belonging to Malawians from a US-based mining company in unpaid revenue on mineral resources extracted in in the country, the country’s head of the bar, the Attorney General (AG) Thabo Chakaka-Nyirenda has declared.
The government’s top lawyer, Nyirenda has disclosed that his offices is prepared and ready to start legal proceedings in the US against a Columbia Gem House company over trillions of kwachas in claims on unpaid revenue on mineral resources extracted at Chimwadzulu Mine in Ntcheu, Malawi.
Chakaka Nyirenda, in an interview with Nyasa Times, says his office is currently working with lawyers from the United Kingdom (UK) and United States of America (USA) on how best to file the suit.
AG Chakaka Nyirenda
Chakaka Nyirenda said: “We are demanding over $300 billion from Columbia Gem House in unpaid taxes on minerals extracted from our mines in Ntcheu which they have been mining since 2008.
“We will stop at nothing to get that money back and we are legally ready and steady for the fight, and we are engaging lawyers both the UK and the US to start proceedings against them.”
In a separate interview, chairperson for the natural resources justice network Kossam Munthali said: “We hope we will get our money back because this money is rightly ours.
“Getting this money back will be so significant to the country, which is currently struggling financially and the money will go along way in helping the nation’s poor.
In July this year, the government through Attorney General claimed $309bn (approx K310trn) from Columbia Gem House in unpaid revenue on mineral resources extracted at the Ntcheu, Chimwadzulu mine.
Nyala Mines Limited, a subsidiary of the US-based company, was given a 10-year mining licence, but the company only paid 604 thousand Kwacha in a period of over five years despite making a profit of K24 trillion per year.
Why did the Govt let the debt accumulate to such a high amount ? Now its gonna cost a lot and get the debt paid , and that if we win the case. And AG don’t say we will get back the money soon , we know a lot of money that’s owed to Govt and recovery process imathela mmagiya
K-two
1 year ago
Even u get-back. The money u guys ,aaaah,! Always you eat alone.so is better not 2.
Chance Nkhata
1 year ago
If they make k24trillion annually,, times 10 years it makes k240 trillions where is your claims about k300 trillion coming from? You said k24 trillion is there profit does it means you taking or all of the profits from them??
Good job
Why did the Govt let the debt accumulate to such a high amount ? Now its gonna cost a lot and get the debt paid , and that if we win the case. And AG don’t say we will get back the money soon , we know a lot of money that’s owed to Govt and recovery process imathela mmagiya
Even u get-back. The money u guys ,aaaah,! Always you eat alone.so is better not 2.
If they make k24trillion annually,, times 10 years it makes k240 trillions where is your claims about k300 trillion coming from? You said k24 trillion is there profit does it means you taking or all of the profits from them??