From October 1, Egypt will charge 19% of the mining license fee for stone mines

Recently, the Egyptian mineral administration announced that 19% of the mining license fee will be charged for stone mines from October 1. This will have a greater impact on Egypt’s stone industry.
The stone industry has a long history in Egypt. Egypt is also one of the largest exporters of marble and granite in the world. Most of the stones exported from Egypt are light brown and beige, among which the best-selling varieties in China are Egyptian beige and Jinbi Beihuang.
Previously, Egypt had increased export taxes on marble and granite materials, mainly to protect the national industry, promote the improvement of Egypt’s local stone processing capacity, and increase the added value of stone products. However, most Egyptian stone exporters are opposed to the government’s decision to increase taxes. They are worried that this will lead to the decrease of Egyptian stone exports and the loss of market.
Nowadays, charging 19% of the mining license fee for stone mines will increase the cost of stone mining. In addition, the epidemic situation is not over and the global economy and trade have not yet fully recovered. Many Chinese stone workers have chosen the online counting method. If Egypt’s policy is formally implemented, it is bound to have a certain impact on the price of Egyptian stone. At that time, will domestic stone makers who manage Egyptian stone varieties choose to increase prices? Or choose a new stone variety?

Post time: Sep-29-2020

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