The world steel giant Arcelor Mittal is facing a tax recovery of more than one billion CFA francs in Senegal. The case revealed by the local press indicates that the group has seen its bank accounts blocked by the Administration, including the office of Ngor-Almadies which triggered a process of seizure assignments.
The group based in Luxembourg, however, has eight days from notification of the procedure to comply with its obligations, under penalty of seeing the banks directly pay the tax debt in question.
In 2007, Arcelor Mittal was granted a concession for the exploitation of the minerals of Falémé (Miferso) before withdrawing without providing convincing explanations. At the time, the State of Senegal had assigned to the Court of Arbitration of Paris.
In 2014, the latter decided in favor of Senegal, and it remained to fix the amount of the fine. With the change of regime, the arbitration procedure had been stopped by means of 75 billion Fcfa (141.7 million dollars) against 2500 billion Fcfa (5 billion US dollars) claimed by the old regime.
