From October 1st, Egypt Will Charge 19% Of The Mining License Fee For Stone Mines, Affecting The Stone Export Market

It was recently learned that the Egyptian Minerals Administration issued an announcement stating that a 19% mining license fee will be charged for stone mines from October 1. This move will have a greater impact on the Egyptian stone industry.

As an ancient civilization, Egypt has a long history of stone industry. After years of development, Egypt is currently one of the world's largest exporters of stone, including marble and granite. Egyptian stone exports are mainly beige and light brown. In China’s trade, the most popular stone varieties are Egyptian beige and gold coin beige.

Previously, in order to protect the national industry, Egypt had increased export taxes on stone materials to promote Egypt's improvement of local stone processing capacity and increase 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 inevitably lead to a decrease in Egyptian stone exports and a loss of market.

At present, Egypt charges 19% of the mining license fee for stone mines, which has increased the cost of stone mining. At the same time, the epidemic situation has not yet ended, and the global economy and trade have not fully recovered. Domestic stone materials are all used online. If Egypt implements this policy at this time, it will have a great impact on the price of Egyptian stone. Will the domestic stone people who deal in Egyptian stone products follow the price increase? Or choose a new stone variety?

The implementation of the charging policy will inevitably bring about a series of fluctuations. Whether it will have a big impact on Egypt or an exporting country like China is still unknown. We will wait and see the follow-up results.