Tax Hike On Talc In 2012
Beijing: This year, the largest producer of metals and minerals is facing strict limitations in production as well as exports. China, in 2012, is witnessing a tax hike in six minerals as well as on various raw metals that are widely used in the manufacture of metal products. The Chinese government has raised the mining tax on minerals including talc, manganese, boron, borates, and two others.
The largest supplier of manganese
and talc and a leading producer of borate minerals has hiked tax rates this year, a step that may lead to a fall in the ranking of China as a global metal and mineral provider. The Shanghai Securities News reports that the increases in tax also apply to metals such as tin, iron and molybdenum. This announcement was made by the Ministry of Finance and the State Administration of Taxation.
The resource tax has been increased to renminbi (Rmb) 20/tonne for talc
and boron, which is $3.18 per tonne, while that for manganese was hiked to Rmb 15/tonne that calculates to $2.38 per tonne. The rise in taxes will have an adverse effect on its demand and a direct negative impact on manufacture of consumer goods that are produced using such minerals and metals.
It seems that China is becoming a major bone of contention for various industries as the rare metal supplier and owning 95 percent of world’s rare earth production. The World Trade Organization received a formal complaint from Japan, EU and the US against China as the later country has decided to exercise rare earth monopoly
India: In the past, the steel and iron ingots market has never been out of action even in the worst of times because market sentiments like cost escalation and demand for ingots and other related metal products have kept it going. Experts these days perceive a distinct correlation between the prices of pencil ingots
New Delhi: The metal products industry is undergoing tremendous changes. The trade and manufacturing regulations on metals have also been tightened this year to much an extent. Apart from the regulations that the iron industry is facing, tinplate trade too is being curbed in a number of ways
Staffordshire: Investment casting or the lost wax method dates back to thousand of years and the family owned Investment Castings Ltd. have built a successful business on this technology, and keeps abreast of new technologies to become one of the acknowledged leaders in the investment casting metal products industry
Vietnam: The Ministry of Natural Resources and Environment have found that the mineral sand mines in Binh Dinh have been contaminated with titanium ore radioactive material, which is a clear violation of the radioactive rules in the province. As a result, the enterprise responsible for the violation has been fined for 400 million dong
Vancouver: Cangold Limited has announced that it has started a new metallurgy project this month. The company that conducts a number of metallurgy programs for testing and exploring the best metals for metal products’ manufacture has commenced its testing program for the Ixhuatan Gold-Silver Project in Chiapas, Mexico
Dubai: After the government blessed the merger between Aldar Properties and Sorouh Real Estate, discussions about property and metal products prices are rife in the Dubai’s stock market. Experts say that the Dubai property market will take a beating in the mid-2012; hence, the property investors and other metal markets are urging
Kolkata: The steel plant at Bokaro is all set to enter the last phase of its completion. The Cold-Rolling mill along with the steel plant complex that will aid in boosting production of certain metal products will now be put through testing and commissioning. It has been reported that the capacity of the steel plant is approximately
Chile: In a bid to produce and promote the use of clean copper energy in Chile, Xstrata Copper has partnered with Origin Energy Limited whereby by Origin Energy will have 51% stake in Xstrata Copper’s Energia Austral hydroelectric development company, located in Chile. Origin Energy has the experience and expertise track record
United States: FashionSeating.com has recently introduced metal products in form of metal seating options for various markets. These seatings are made of solid metal bars to give them both durability and modish look. The collection is available online at the company’s retail website