Chrome ore producers criticise proposed export tax

South Africa is the world's biggest producer of chrome ore, a key ingredient in stainless steel.

2020-10-24 06:00:00 AM

South Africa is the world's biggest producer of chrome ore, a key ingredient in stainless steel.

The industry body representing South African chrome producers criticised a proposed chrome ore export tax put forward by the cabinet on Thursday, which would make it more expensive for them to ship their product overseas.

Last year it supplied 12.5 million tonnes of the mineral to China - 83% of China's total chrome imports.The proposed tax would drive up costs for chrome ore producers to export, incentivising them to instead transform the raw material into ferrochrome inside the country.

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Neither the cabinet nor the mines ministry disclosed details about the tax, which is part of a package of measures meant to help the country's struggling ferrochrome industry. Read more: Sowetan LIVE »

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But we have nothing to show for that.Maybe we must be greedy and charge more for exporting it We the Citizens of South Africa benefit fokol from this. All we inherited was looting After 26 years of democracy, Our minerals dont benefit us, why? And yet.... Unfortunately South Africans do not own the mines. We only benefit through taxes. Government should go ahead with the proposed tax.

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