St Barbara has been hit with a $210 million tax bill from Papua New Guinea, marking the latest attempt to squeeze money from foreign miners operating in developing nations.
The tax claim by PNG authorities for 523 million kina dragged St Barbara shares down more than one-third on Tuesday, wiping $100 million from its market capitalisation.
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Mark Wembridge covers resource companies for The Australian Financial Review, based in Perth. He formerly worked for the Financial Times in London and Hong Kong. Connect with Mark on Twitter. Email Mark at mark.wembridge@nine.com.au
