Stone Export Tariff on the Way

Unprocessed decorative stone exports will be slapped with a 5-15% tariff as of the next Iranian year (starting March 20, 2017), a deputy minister of industries, mining and trade announced on Sunday. Jafar Sarqeyni added that the duty will remain in effect for two years. Decorative stone exports were banned in 2006 to put an end to the sale of unprocessed minerals, IRNA reported.  Although the measure was eventually revoked, experts believe the sector has yet to regain the markets it lost. According to the Ministry of Industries, Mining and Trade, Iran holds about 5 billion tons of ornamental stone reserves and produces close to 14 million tons per year.