Yacimovich: Treasury capitulated to ICL over Dead Sea

December 28, 2011 13:57

The Treasury capitulated  when it signed an agreement Tuesday night with Dead Sea. Israel Corp. subsidiary Israel Chemicals Ltd. (ICL), said Labor Party Leader Shelly Yacimovich on Wednesday.

According to the agreement, the ICL will pay NIS 3.04 billion for the salt harvesting in the southern basin of the Dead Sea.

"Raising the royalties to ten percent was already in the law, and ICL's consent wasn't required," said Yacimovich.

"This is a ridiculous rate of royalties on natural resources that belong to the general public," she added.

Globes contributed to this report

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