ArcelorMittal Kriviy Rih might be forced to suspend the operation of its mine named after Artem in case the duty for iron ore mining is increased according to the draft decree No. 1210 submitted to the Verkhovna Rada.
“If the state wants raw materials processing to be 100%, it will be 100%. But then we will be forced to decrease output. We have quarries and a mine, and we will have to freeze all operation there. Now we employ over a thousand people at the mine”, the company deputy CEO Vladimir Tkachenko declared.
The draft decree suggests not only increasing iron ore mining rent from 8% to 10%, but also the lower margin of profitability of the iron ore raw materials from 14-25% to 33%. (Ukrainian metal)