Recently, it was learned that 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 the stone industry in Egypt.
As a country with ancient civilization, Egypt’s stone industry has a long history. After years of development, Egypt is one of the largest stone exporting countries in the world, including marble and granite. The main export stones of Egypt are beige and light brown. In China’s trade, the most popular ones are Egyptian beige and Gold Beige.
Egypt
Previously, in order to protect the national industry, Egypt had increased the export tax on stone materials to promote the improvement of the local stone processing capacity and the added value of stone products. But later, most Egyptian stone exporters expressed dissatisfaction and opposition to the government’s tax increase. They worried that doing so would lead to a decrease in Egyptian stone exports and a loss of market.
At present, Egypt charges 19% mining license fee for stone mines, which increases the cost of stone mining. At the same time, the epidemic situation is not over, and the global economy and trade has not yet fully recovered. Domestic stone people all take the way of online material counting. If Egypt implements this policy at this time, it will have a great impact on the price of Egyptian stone. Will the domestic stone dealers follow the price increase? Or choose a new kind of stone?
The implementation of the charging policy will inevitably bring a series of fluctuations. It is unclear whether it will have a great impact on Egypt or on exporting countries similar to China. We will wait and see the follow-up results.