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25% Duty Proposed on Iron Ore Exports from Iran

The proposed duty is aimed at preventing the export of unprocessed minerals, generating more value-added and fulfilling the needs of domestic producers
25% Duty Proposed on Iron Ore Exports from Iran25% Duty Proposed on Iron Ore Exports from Iran

The Ministry of Industries, Mining and Trade has proposed a levy of 25% customs duty on iron ore export.
According to director general of the ministry's Mineral Industries Office, Seifollah Amiri, the proposal has been sent by Industries Minister Reza Rahmani to the Cabinet for approval. 
If approved, the new duties will come into effect on Sept. 23, the ministry's news service Shata reported.
The proposed duty is aimed at preventing the export of unprocessed minerals, generating more value-added and fulfilling the needs of domestic producers.
“With this decision, the sale of unprocessed iron ores will fall under 5 million tons [annually],” Amiri said.
A total of 17 million tons of iron ore were exported from Iran in the last fiscal year (March 2018-19), figures released by the Iranian Mines and Mining Industries Development and Renovation Organization show.

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