Brazil changes gas production laws to stimulate investment

Changes to Brazilian mining regulations, including securing exploration ownership and providing incentives for lending, will spur investment in the Brazilian mining industry, Brazilian mining institute Ibrahm said.

The terms "can restore the necessary legal security for long-term business," the institute said in a statement.

The decree guarantees ownership of the research and begins to provide the owner with the continuity of converting the found resources into mineral reserves following the submission of the final report, the Ministry of Mines said in a statement.

In addition, mining can also be used as a credit guarantee. “The goal is to generate credit lines and stimulate investments,” the ministry said.

Environmental requirements have been tightened, and “direct responsibility for the extraction of minerals to restore degraded areas,” the ministry said in a statement.

Ibrahm will monitor compliance with the measures and "assess the impact on the performance of the mining industry in the coming years."

At the end of last year, the ministry changed the CFEM mining tax on iron ore companies from 2% net revenue to 3% gross revenue. For January-May, the amount of CFEM collection is 39.4% more than in the same period a year earlier.