"Revisions to Brazil’s mining code may cancel mineral rights that the government deems strategic such as phosphate, potash, and rare earth elements, Reuters reported yesterday, quoting unnamed but “high-level” government and mining industry officials. “Large iron ore deposits that have not yet been leased may also be set aside as strategic and held for special auctions,” the news agency said."
Even though gold has not been deemed 'strategic', the possible Code doesn't help overall sentiment to operating in Brazil. Hopefully it won't be a deterrent to Anglo's sale of their neighbouring iron ore asset.
BDR Price at posting:
62.5¢ Sentiment: LT Buy Disclosure: Held
