(MENAFN) Iranian Deputy Industry, Mining and Trade Minister Jafar Sarqeini has declared that the government will impose a 10% duty for export on iron ore starting from the next Iranian calendar year 1397 (March 21, 2018) .
The government's goal behind this decision is to stop exporting the raw mineral, while at the same time, encourage exports of the processed material as the export duty on iron ore pellets is planned to be reduced from 15 percent to zero.
"Export duty on iron ore just makes the investors go away",Qadir Qiafeh, a board member of Iron Ore Producers and Exporters Association of Iran (IROPEX) said.
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