Aussie dollar climbing… is the iron ore trade back on?
Simandou, one of the world’s most significant iron ore developments, is set to challenge the Pilbara’s dominance soon.
Severstal, one of Russia’s largest steelmakers, will need to pay an extra 25 billion roubles ($340 million) in taxes in 2022 due to changes in the calculation of a mineral extraction tax and the excise tax on the metal, the company’s main shareholder Alexey Mordashov said.
Severstal has already paid around 25 billion roubles in export duties in 2021, Mordashov said in an interview with Rossiya 24 TV channel aired on Monday. ($1 = 73.5760 roubles)
(By Anastasia Lyrchikova and Andrey Ostroukh; Editing by Kirsten Donovan)
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