MOSCOW, Jan 31, 2011 (Dow Jones Commodities News Select via Comtex) -- The Russian government will decide within a month whether to impose export duty on steel roll and iron ore, Deputy Economic Development Minister Andrey Slepnev said Monday as quoted by the ministry's press office.
Slepnev said the Economic Development Ministry would submit a draft decree to the government within two weeks, and the decision on the issue was likely to be taken within a month.
Slepnev also said his ministry was working on a formula to calculate the duty, which would be tied to world prices.
He said the ministry is working on a similar formula to calculate export duty for copper and nickel, which also would be tied to world prices.
The decision to impose export duty on copper and nickel has already been taken by the government.