Polish treasury min calls for review of mining tax

Tuesday, Jan 3, 2012

WARSAW (Reuters) - Poland's new mining tax, which is to mainly fall on Europe's No.2 copper producer KGHM , is out of sync with global standards and should be reviewed to reflect production costs, the treasury ministry said.

Last month, the finance minstry published its proposed mining tax bill, to be discussed by government this month. The levy is to raise 1.8 billion zlotys ($524.2 million) this year and subsequently rise to 2.2 billion. ($1 = 3.4340 Polish zlotys)

(sourced Reuters)