Anil Agarwal wants to refund VAT dues take back import tax hopeful

first_imgNew Delhi: Mining baron Anil Agarwal has said that Zambia must withdraw an import duty on copper and give his company due VAT refunds to help restore investor confidence that was shattered by the African nation’s move to liquidate his copper-mining business. Vedanta Resources has taken the government of Zambia to international arbitration following the seizure of its Konkola Copper Mines (KCM), one of Africa’s biggest copper producer, stunning investors. Also Read – SC declines Oil Min request to stay sharing of documents”We took the plan 15-16 years back. They (recently) slapped duty on copper concentrates, withheld our VAT refunds of $200 million… (Zambian) government has been pressuring us to continue operations but we said please resolve these issues first,” Agarwal said here. Last month, Zambian government seized control of KCM, one of Africa’s biggest copper producers saying it had breached environmental and financial regulations. State-controlled Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) is seeking liquidation of KCM, in which it owns 20.6 per cent. Vedanta owns 80 per cent of the company and has has invested over $3 billion in KCM in adding processing capacity and extending the mine life since it acquiring the business in 2004. Also Read – World suffering ‘synchronized slowdown’, says new IMF chiefAgarwal said the African nation must “give us refunds due to us and remove (5 per cent import) duty on concentrate”. Zambia, which is Africa’s second-largest copper producer, is not in a good shape financially, he said. KCM is Zambia’s largest integrated copper producer with nearly 13,000 workers. It invested $500 million in a new copper smelter which produced 135,000 tonnes of refined copper in the first nine months of 2018. “I have a feeling they will resolve the issue… I am hopeful of an amicable solution,” he said. The Zambian High Court has appointed Zambian law firm Lungu Simwanza & Company to act as provincial liquidator for KCM following an application by ZCCM-IH. “The court is hearing the case, let’s see (what comes out of it),” he said. alast_img read more

Multivitamins provide no protection against heart attacks study finds

Experts said multivitamins did not have the same benefits as eating fruit and vegetables Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings. Researchers noted that fruits and vegetables were a good source of many vitamins and associated with a lower risk of stroke and coronary heart disease, with a strong link between the amount consumed and the benefits.They said the small number of studies that had established a link between multivitamin and mineral supplementation and a lower risk of coronary heart disease could be explained by the fact that people who take such supplements tend to have a healthier diet.Victoria Taylor, senior dietician at the British Heart Foundation, said: “We know that eating a healthy balanced diet, like the traditional Mediterranean diet, can help to lower our risk of heart and circulatory diseases. There are no shortcuts when it comes to nutrition – supplements are not a replacement for healthy food.“You might be prescribed a vitamin or mineral supplement by a health professional for other reasons, but we do not recommend people take multivitamins to help prevent heart and circulatory diseases which this review supports.“Rather than taking multivitamins, focus on eating a healthy, balanced diet which includes plenty of fruit, vegetables, wholegrains, fish and unsaturated fats like olive oil.”Rebecca McManamon, consultant dietitian and spokeswoman for the British Dietetic Association, said: “This reiterates the message that instead of supplements, in the UK we are still not all eating enough fruit and vegetables and we need to keep driving to eat more, as five portions a day or more are linked with a reduced risk of heart disease, as well as reducing risk of some cancers.”She noted that the study concerned adults and that multivitamins are recommended for children aged from six months to five.The analysis was published in Circulation: Cardiovascular Quality and Outcomes, an American Heart Association journal. Experts said multivitamins did not have the same benefits as eating fruit and vegetablesCredit:Janine Lamontagne Multivitamins do not protect against heart attacks, a major study has found.Researchers analysed the results of studies and clinical trials undertaken since 1970, involving more than two million people.Overall, they found “no association” between taking multivitamin and mineral supplements and the development of cardiovascular disease, coronary heart disease or strokes and their related deaths.Joonseok Kim from the University of Alabama’s department of medicine, who led the study, said: “We meticulously evaluated the body of scientific evidence.“We found no clinical benefit of multivitamin and mineral use to prevent heart attacks, strokes or cardiovascular death.”The study also found that there was no cardiovascular benefit to taking a “therapeutic” supplement of a vitamin due to deficiency, such as vitamin D. It found “even sparser” evidence of any such benefits for those taking multivitamins without a confirmed deficiency and noted that several studies had demonstrated that daily vitamin and mineral supplementation in certain groups, such as the elderly, could actually have a negative effect.Around one in three British adults takes some form of nutritional supplement, the most popular being multivitamins, followed by vitamin C.Kim, an assistant professor of cardiology, said: “It has been exceptionally difficult to convince people, including nutritional researchers, to acknowledge that multivitamin and mineral supplements don’t prevent cardiovascular diseases.”I hope our study findings help decrease the hype around multivitamin and mineral supplements and encourage people to use proven methods to reduce their risk of cardiovascular diseases – such as eating more fruits and vegetables, exercising and avoiding tobacco.”He said his team had set out to offer clarity on the subject because although many studies had concluded that multivitamin and mineral supplements did not prevent cardiovascular diseases, the notion had still proved controversial. read more