Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Russian lawmakers have approved a new tax regime, the mineral extraction taxes (MET), slated to take effect at the beginning of next year. 


According to media reports, the new MET is part of a $4.5bn taxation policy that will affect the metals, fertilizers, oil and, tobacco industries. At the current rate, ferrous raw materials are taxed at 4.8pc while non-ferrous metals are taxed at 8pc, but they will tripled Jan 1.


However, all new mining projects will be exempt from the MET because they’re protected by special investment agreements with the government. 

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