Economy, Business And Markets

Incentive for Miners

Incentive for MinersIncentive for Miners

The government plans to exempt all mines across the country from 10% of their dues in mining royalty, says Deputy Minister of Industries, Mining and Trade Ali Asghar Tofiq. According to the official, the move is an incentive to help miners facing liquidity shortage, Mehr News Agency reported. Mining royalties became the subject of a heated debate among industrialists after 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. Later, it was agreed that 20% concession be offered to mining companies for improving efficiency in mining activities, research and development, mining explorations and environmental protection. Iranian miners have hit a sticky patch lately over the global decline in mineral prices and a slowdown in China.