China's royalty reform is designed to have no impact on iron ore costs

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Report summary

China is proposing to replace its tonnage-based resource taxes and all related grey costs with a price-based royalty for iron ore mines. The government will aim to set the new royalty rates without affecting costs for the industry. We estimate price-based royalties will need to be between 5 and 7%on average to achieve this goal. A date for implementing this new royalty regime is not decided and could be up to several years away.

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    China's royalty reform designed to have no impact on iron ore costs

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Table of contents

  • Executive summary
  • China to reform iron ore resource tax
  • Royalty rate likely to be less than 7% on average
  • Royalty change benefits SOE mines

Tables and charts

This report includes 2 images and tables including:


  • Company type cost impact of price-based resource tax


  • Royalty rates by provinces to achieve no cost change

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