Ministry Removes Mineral Export Restrictions

Jul 18 , 2021


The Ministry of Mines & Petroleum has removed a restriction that obligated those engaged in the export of opal, sapphire, and emerald to limit the volume of raw minerals they send abroad to just 20pc. The move enables these exporters to disregard the 80pc threshold set for value-added products and market the minerals abroad as they see fit. Furthermore, the Ministry also reported it will be revising the export prices for these minerals with input from exporters. The country earned over 681 million dollars from the export of minerals, mostly gold, during the just-ended fiscal year, a more than 400 million dollars increase from last year's 207 million export revenue.


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