India Buries Iron Ore Mining Windfall Tax Proposal

Mining Weekly reported that the government of India has officially buried its iron ore mining windfall tax proposal despite the need for it in some of the country’s provinces.

As quoted in the market news:

According to an official in the Mines Ministry, the government maintained that no fresh levies on iron-ore mining modeled on the Australian mineral resource rent tax (MRRT) of 50% was either necessary or justifiable under the present Indian iron-ore mining business environment.

Click here to read the full Mining Weekly report.