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Gov’t Urged to Quit Setting Mineral Prices

Gov’t Urged to Quit Setting Mineral PricesGov’t Urged to Quit Setting Mineral Prices

The government will soon decrease the rate of mining royalties imposed on iron ore mines, Tasnim News Agency quoted Minister of Industry, Mine, and Trade, Mohammad-Reza Nematzadeh as saying on Sunday. Mine royalties became the subject of a heated debate among industrialists in the mining sector as the parliament passed a law last year which required mines to pay up to 25% of the value of their extractions as mining usufruct fees. Certain incentives were granted to iron ore mines however, as they will be given discounts if they manage to process iron ore into raw materials for steel including iron ore concentrate, iron ore pellet and sponge iron.

 

Financialtribune.com