Mirabela Mining tries to tax incentives with the government of Bahia
02/26/2016
Ipiau & Region ,
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Mirabela says the State Government has not yet made a concrete proposal.
In order to try to reverse the severe economic crisis, representatives of Mirabela Mining have held several meetings with the Bahia State Government representatives to try to prevent the closure of the mining activities in the municipality of Itagibá. Despite the commitment of executives Mirabela Mining and the promise of deputies of the situation to ensure that the government would facilitate the release of part of the Tax on Goods and Services (ICMS), withheld and tax reduction, to present the news moments not they are encouraging. Through note Mirabela Mining issued a statement to employees on the challenges facing the company."Throughout the year 2015 Mirabela came trying to seek alternatives that could enable the strengthening of its financial health, given the challenging scenario that the company is. One of these alternatives was to plead with the Government of Bahia the release of part of the ICMS credits, whose total amount is more than enough to rebalance the company financially. The company has been holding meetings with government officials since August 2015, but so far, all of the Bahia State Government positions on the release of ICMS credits were unsatisfactory. Even the company seeking incessantly more feasible ways for the continuation of its business in the municipality of Itagibá, there is also no government concrete proposal regarding this election. Mirabela is always open a transparent dialogue with the government and, given the financial difficulties of the company, it is necessary that this time the Government of Bahia present feasible and concrete decisions in the shortest time so that the company can achieve financial sustainability of your business. "
The Mirabela operations are planned until the 20th of March. Some employees will remain working after closing to give maintenance equipment and take care of bureaucratic procedures, means and other environments. The mining employed directly approximately 400 employees. Mirabela started the exploration of nickel sulfide at the end of 2008. During this period pound of ore was sold around U $$ 12.00. The problems started when the sector was in crisis and ore value dropped to $ 8 a pound, the company was already operating at a loss, according to information from Milson Mundin, financial manager of Mirabela. Allied to this the reduction process in the Chinese economy of investment, higher nickel buyer contributed to the ore value will have depreciated every day, which according to investors, makes unviable business.
(Panorama Ipiaú)
(Panorama Ipiaú)
