Home » Business » Newmont and fraud in Adolfo Domínguez

Newmont and fraud in Adolfo Domínguez

Canadian miner Newmont Corporation, which chairs Tom Palmer, is the owner of Peñasquito in Zacatecas. The reserves of that mine at the end of 2019 are 8.1 million ounces in gold, 471 million ounces in silver, 3,260 million pounds of lead and 7,420 million pounds of zinc. Its subsidiaries in Mexico have tax disputes with the SAT and are in negotiations.

The SAT sent him notices of fiscal reevaluation for two of Goldcorp’s Mexican subsidiaries related to a “reduction in the amount of deductible interest paid on related party debt by those subsidiaries during fiscal years 2008 and 2009,” and the rejection. of “certain fees and expenses within the company”. You have to pay 11 million and 102 million more each of those years in ISR plus interest and penalties.

Newmont noted that in the first quarter of 2020 it made progress in reaching agreements with the SAT and that it “hopes to reach” by the end of the year a final resolution “less than the stated revaluation”. In addition, a separate Goldcorp subsidiary received reevaluations for fiscal years 2008 and 2009 and audit observations related to fiscal years 2010 to 2017.

This includes the payment of interest on the debt of related parties and the gain recognized in the sale of the mine, among others. In the second quarter of 2019, 96 million dollars were liquidated, and in the first quarter of this year, an agreement was reached with the SAT for 2008 to 2010; dialogue continues for fiscal years 2011, 2012, and 2014 through 2017.

The company “will defend its tax filing positions.”

Meanwhile, Alamos Gold announced that the La Yaqui Grande project in Sonora will begin in the second half of this year, where it expects an average annual gold production of 123 thousand ounces per year from the third quarter of 2022. Prime Mining completed the purchase from the Los Reyes gold and silver mine in Sinaloa, with a payment of one million 500 thousand dollars to Vista Gold. They are both Canadian.

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Caja de la Sierra Gorda supported the creation of Generamás, a new fintech leadered by Enrique Levin, young entrepreneur who has promoted more than 30 businesses in Mexico and the US. Generamás reported growth of one hundred percent in each of the last three quarters because its online operations lower costs; offers a fixed rate investment account that varies according to the term with amounts from one thousand pesos. With the support of the savings bank, Prosofipo can offer savings protection insurance, which covers investments of up to 25 thousand Investment Units … The Spanish boutique brand Adolfo Domínguez will close in Mexico amid a complaint against him for fraud; without sales during the pandemic, it issued invoices to collect.

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