Minister: Government mulls no adjustment of MET on iron ore

MOSCOW, Nov 11 (PRIME) -- The Russian government is not discussing adjustment of the mineral extraction tax (MET) on iron ore, Industry and Trade Minister Denis Manturov told reporters on Friday.

“There have been no discussions of that until this moment,” he said.

“We discussed liquid steel, whose formula needed adjustment. But a general decision to reduce it  is not on the agenda right now.”

The government considered the MET on iron ore in August, and the Industry and Trade Ministry said then that it should be adjusted depending on the profitability of the industry.

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