Tuesday, February 9, 2010

Brazil Considering Iron Ore Export Tax

Brazil is considering imposing a tax on iron ore exports while at the same time removing export taxes on finished steel products. The Energy and Mining Minister Edison Lobao put forward the possibility in an interview in Brasilia yesterday although he added that “the Finance Ministry would have to agree on it.”

Brazil was considering the imposition of a 5 per cent export tariff on iron ore last year but decided at that time not to pursue the option.

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