Jordan Raises Fees on Phosphate to Boost Revenue, Al Arab Says
Jordan’s government plans to more than double fees imposed on phosphate mining to $5 from $2 a metric ton to boost government revenue, starting in the second quarter of next year, Al Arab Al Yawm reported.
The government received about 8.8 million dinars ($12.5 million) in mining fees from Jordan Phosphate Mines Co. (JOPH) last year, the Amman-based newspaper reported, citing an unidentified official. The increase is the first since the company was privatized six years ago, it said.
Jordan Phosphate’s shareholders include Kamil Holdings Ltd., owned by the Brunei Investment Agency, with 37 percent, and the Jordanian government, with 26.2 percent, according to the company’s website.
To contact the reporter on this story: Mohammad Tayseer in Amman, Jordan, through the Dubai newsroom at mtayseer@bloomberg.net
To contact the editor responsible for this story: Stephen Voss on sev@bloomberg.net.
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