Under the MACA contract BDR pay for fuel at the going rate. However, in Brazil fuel prices were previously subsidized by the Government (via PetroBras). As oil prices have fallen globally these subsidies have unwound and the domestic price of fuel hasn't moved nearly as much as it has in other economies.
Fuel relates to the mining fleet as the plant is on hydro generated electricity.
Cheers
John
BDR Price at posting:
31.0¢ Sentiment: None Disclosure: Held
