Authorities in Uzbekistan have frozen gold shipments and seized assets from US group Newmont Mining, over a tax dispute.Officials are "no longer allowing gold to be shipped out of Uzbekistan and some gold has been seized by the tax authorities, along with other assets" of the Zarafshan-Newmont joint venture, according to documents published on its website.
The dispute revolves around a Uzbek tax authority ruling that a government decree protecting joint ventures from changes in tax laws and providing financial and operational benefits, was no longer applicable during the period 2002-2005.
