The South African government may be looking to implement export taxes on iron ore and steel products, it announced in a post Cabinet briefing.
South Africa is one of the largest exporter of iron ore in the world, also few Indian companies have been souring their ore requirement from there.
Kumba iron ore, one of the largest exporter in the country will be impacted.Kumba Iron Ore exports roughly 34-million tonnes of iron ore to the rest of the world.
A Kumba spokesperson said the company was aware of the government’s statement regarding proposals for export taxes on iron ore and steel, but could as no further details were available it was unable to comment.
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