New Mineral Duties Provoke Ire of Exporters

The Ministry of Industries, Mining and Trade’s recent decision to levy customs duties on the export of a wide range of mineral products has drawn criticism among exporters.
The duties, communicated on April 9 to take effect in the new fiscal year (started March 21), will be imposed on the export of all products along the steel production chain from iron ore to steel ingots and downstream products, as well as base metals such as copper, aluminum and zinc from concentrates to the metal and downstream products, petrochemicals, chemicals, glass, clinker, cement and all kinds of ferroalloys. 
The rate of duties is progressive in nature, meaning they increase as the export volume rises.