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India miners fear re-imposition of export tax on iron ore fines
July 02, 2009 - 19:20 GMT
Location:
Mumbai
KEYWORDS:
India
,
Iron ore
,
Export tax
,
Royalty
Indian iron ore miners fear a 15% tax on export of iron ore fines may be imposed by the government when it announces its budget for the 2009-10 on July 6
“I think the government is contemplating imposing taxes on iron ore.” Federation of India Mineral Industries (Fimi) secretary general RK Sharma told MB.
He said that Fimi has made a clear representation to the finance ministry stating such a tax would render Indian iron ore as the highest-taxed in the world at a time when iron ore markets around the world are on a downturn.
The Indian steel ministry...
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