UPDATE 3-Brazil's Congress approves higher mining royalties [Reuters]
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Source: Reuters
UPDATE 3-Brazil's Congress approves higher mining royalties | Reuters Reuters Staff 3 Min Read (Recasts with full approval with Senate vote) By Jake Spring BRASILIA, Nov 22 (Reuters) - Brazil’s Congress on Wednesday passed a bill that would boost royalty rates on iron ore by 75 percent - instead of the doubling of rates that had been proposed - as both houses voted in rapid succession in a win for President Michel Temer’s reform agenda. Under the revised plan, gold mining royalties would rise 50 percent, while potassium mining royalties would be slashed. The vote came a week ahead of a Nov. 28 deadline to pass Temer’s planned overhaul of mining regulations. Two related proposals aimed at improving regulatory efficiency for the sector could expire if not approved by then. Voting in the early hours of Wednesday morning, the lower house amended the bill that had been proposed in committee for iron ore, gold and fertilizer components. The Senate approved the lower house bill without chang
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