If the decree No. 1210 is supported by the Parliament, the industry will most likely start importing iron ore and not mining its own.
“ArcelorMittal has already said they would review their policy and start importing iron ore, and not mining it in Ukraine, as it would become inefficient. The decree is bad for all Ukrainian ore processors. The manufacturers will lose competitiveness on the global markets. It is senseless, as the approach suggested in Ukraine is used nowhere else in the world”, the economist Sergey Fursa said.
The decree presupposes the increase of iron ore mining rent from 8% to 10% and the increase of tax burden on processing products. (Ukrainian metal)