BASIC MATERIALS
JUNE 13, 2018 / 12:50 AM / UPDATED 35 MINUTES AGO
UPDATE 1-Brazil overhauls decades-old mining law, eyeing investment
Reuters Staff
2 MIN READ
(Adds details)
By Jake Spring
BRASILIA, June 12 (Reuters) - Brazil’s President Michel Temer will issue two decrees on Tuesday overhauling mining laws in attempt to draw investment to the sector and implementing rules on the collection of higher mining royalties, the Mines and Energy Ministry said.
The changes to the mining code include measures to allow for mining titles to be used as guarantees for financing, aimed at stimulating investment in sector, and to allow miners to continue exploring for minerals while production license applications are pending, the ministry said.
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