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New Brazil Mining Law set to be less severe than feared

18 Jun 2013

The overhaul of Brazil's 46-year-old mining law will be unveiled as President Dilma Rousseff’s latest effort to tighten state control of natural resources, whilst striking a delicate balance with international investors.

Due to the growing pressure from the international business community to minimize rules and restrictions on miners, facing Rousseff, industry slowdown may turn out to have been a moderating factor in the final version of the bill and is expected to be less severe than originally feared.

The new law is expected to double mining royalties to 4% and the government is expected to introduce a new regulator of mining sector affairs.