According to the news from the market, the South African government approved to levy of an export tax on chrome ore.

In the past, South Africa was the largest producer and exporter of chrome ore in the world. In 2019, the output of chrome ore in the world, South Africa counted as almost 60% of the world, with around 20 million tons.

The export tax was expected to protect its domestic chrome ore industry, and which expected to increase the market price, especially in China.