Iran decreases export duties for some mining materials

Business Materials 22 January 2020 19:08 (UTC +04:00)
Iran decreases export duties for some mining materials

BAKU, Azerbaijan, Jan. 22

By Elnur Baghishov - Trend:

The Iranian Ministry of Industry, Mine and Trade has notified the Iranian Customs Administration about reduction and application of duties on export of some mining products, Iranian Deputy Minister of Industry, Mine and Trade Jafar Sarqeyni said, Trend reports referring to the ministry’s website.

“The duty on export of chromite has been reduced from 25 percent to 10 percent, the duty on export of lead and zinc concentrate from 20 percent to 12 percent and the duty on export of copper from 10 percent to 5 percent,” the deputy minister added.

Sarqeyni also added that the Iranian Customs Administration was notified about a 10-percent-duty on export of sponge iron.

“The main purpose of the US sanctions against Iran is to destroy Iran's steel industry and mines,” the deputy minister said. “Appropriate decisions related to this sector must be made to maintain balance and continue production. Otherwise, this will have a great impact on Iran's industry.”

The US imposed sanctions on Iran in November 2018 and expanded the list of sanctions in several stages. The imposition of duty on export of a number of mining materials in Iran in October of last Iranian year has caused discontent among exporters.