US company Columbia Gem House has denied accusations from Malawi that it owes more than $300 billion in unpaid taxes on minerals extracted in the country. The AFP news agency reports that Malawi’s attorney general accused the firm of evading duty on sales of rubies and sapphires mined at its Chimwadzulo Mine from 2008, alleging that Nyala Mines Limited, which it describes as a Columbia Gem House subsidiary, paid taxes of just $600 against projected $24 billion revenues from their Malawian operation. Columbia Gem House however says it “is not, and never has been, an owner of Nyala Mines or any other entity in Malawi, nor a signatory to any lease agreement with the Government of Malawi”.