Brazilian Government Plans Increase Iron Ore Export Tax 5 Percent
October 20th, 2009
The Brazilian government while studies to increase the possibility of iron ore export tax to 5 percent. But the Brazilian government faced problems with the company’s largest iron ore mining in Brazil, Vale. The Brazilian government criticized the policy of the mining company Vale, as Vale not increase investment in Brazilian country.
The increase in iron ore export tax will increase mining royalties. An increase in mining royalties will affect the investment projects in several mining exploration activities in Brazil. Therefore, the Minister of Mines and Energy Mr. Edison Lobao, doubts about raising tax policies for export of iron ore mine.
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