After much consultation, the provincial government has set the rate at which it will take companies mining diamonds in northern Ontario.
Northern Development and Mines Minister Rick Bartolucci says the royalty will remain at 13 percent, as announced in this springs budget.
However, he says mining companies will have an opportunity
to reduce the amount they pay through specific deductions.
N003 Q: ..will pay. (23 secs.)
The diamond mining giant, DeBeers had complained the 13 percent royalty was too much and wanted a lower rate in the range of five percent.
