Jindal Investment Not Affected By Mining Tax Increase

Bolivia’s plan to raise the rate of its mining tax, from 25% to 37.5%, announced by president Evo Morales on Sunday, will not affect the final details of the agreement with Indian firm Jindal Steel, according to mining minister Alberto Echazu. The minister said that the company had factored the planned increase into its negotiations with the government. Bolivia is still finalizing the grounds for Jindal’s planned development of the El Mutún iron ore deposits after awarding the firm the concession almost a year ago.