Zimbabwean platinum producer Anglo American Plc has asked the Supreme Court to intervene in an attempt by the country’s tax authority to seize $24 million in a royalty dispute.

Unki Mines Ltd, which is owned by Anglo American Platinum Ltd, filed an urgent court application against the Zimbabwe Revenue Authority, which sought to recover funds from the company’s account at the local unit of Standard Bank Group Ltd.

“Cutting off the applicant’s account threatens his very survival as he has been left unable to carry out his normal activities,” Unki Mines said in an urgent application to the high court.

The Anglo-American business said that the action of Zimra, as known to the tax service, is illegal. The case dates back to 2018, when the tax authority alleged that Unki underpaid mining royalties. While the company later paid those disputed royalties in local currency, it said the tax authority wanted the payment in dollars.

Zimra’s calls were not immediately answered.

© 2022 Bloomberg

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