Albania collects USD 9.8mn of mining rents in 2011.

By bne IntelliNews January 30, 2012
Albanias budget revenue from mining rents totalled USD 9.8mn in 2011, rising 2.5 times in comparison with 2010, local daily Gazetastart reported. At the same time, countrys mining production rose 32% to 8.2 million tonnes in 2011. Among the different mining segments, production of copper increased the most, by 170%, followed by chromium (120%) and precious stones (70%). Under the Albanian mining law, licensed mineral exploration companies pay a mining tax rate in the range of 4% to 10%, depending on the product. The highest 10% rate is paid on exploration of gold, silver minerals, precious and semi-precious stones. According to an economy ministry estimate, private investments in the local mining industry will reach USD 40mn in 2012.
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