India Raises Taxes 30% on Iron Ore

IBTimes reported Indian iron ore miners cautioned federal authorities total shipments of iron ore will drop following a 30% increase in iron duties.

As quoted in the market news:

Effective Dec. 30, India’s Ministry of Commerce hiked the export duty tax to 30 per cent from 20 per cent on both iron-ore fines and lumps, an order posted on the Central Board of Excise and Customs website said on Monday.

Click here to read the full IBTimes report.