December 04, 2008

Ukraine to increase iron ore mining royalty

Ukrainian Journal reported that according to a bill drafted by the Ukrainian finance ministry, Ukraine is seeking to increase payments it charges mining companies for extracting iron ore.

As per report, the payments are expected to increase by 40% to UAH (UDD 0.3) per tonne.

The draft must be approved by Parliament and signed by President Mr Viktor Yushchenko in order to take effect.