Brazil
News

Brazil's mining tax revenue shoots up in December

Bnamericas Published: Wednesday, January 09, 2019
Brazil's mining tax revenue shoots up in December

Brazil's mining royalties, known as the CFEM tax, reached 299mn reais (US$81.3mn) in December, up 71% year-on-year, and the second highest monthly figure for 2018.

However, royalties were down 5.52% compared to the 317mn reais collected in November, according to minerals production department DNPM.

CFEM collection for the whole of 2018 shot up 65.3% to 3.04bn reais, with revenues split between municipalities (65%), states (23%) and the federal government (12%).

MINING CODE REFORM

Following congressional approval of a measure changing mining royalties, former Brazilian president Michel Temer signed a bill into law in December 2017.

The new rates, which still require a vote in the senate, will be applied to gross revenue. Newly created national mining agency ANM will monitor sales and exports of minerals.

Royalties applied to iron ore, Brazil's most important mineral, will rise to 3.5% from 2%. Other minerals set to face higher royalties are gold (1.5% from 1.0%), niobium (3% from 2%) and diamonds (2% from 0.2%).

Under the current system, miners pay royalties on net sales in the range of 0.2-3.0%, depending on the mineral.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals (Brazil)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Itinga
  • Current stage: Blurred
  • Updated: 1 day ago
  • Project: Vermelho
  • Current stage: Blurred
  • Updated: 1 day ago
  • Project: Luanga
  • Current stage: Blurred
  • Updated: 3 days ago
  • Project: Salinas
  • Current stage: Blurred
  • Updated: 3 days ago
  • Project: Corumbá
  • Current stage: Blurred
  • Updated: 1 week ago
  • Project: Minas - Rio
  • Current stage: Blurred
  • Updated: 1 week ago
  • Project: Almas
  • Current stage: Blurred
  • Updated: 2 weeks ago

Other companies in: Mining & Metals (Brazil)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: i.Systems S.A.  (i.Systems)
  • The description contained in this profile is taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been machine tran...
  • Company: MTSUL Construções Ltda  (MTSUL Construções)
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: LOTS Group Latin America
  • LOTS Group is an international logistics and technology company born in Sweden. Its subsidiary for Latin America has an office in São Paulo, Brazil and one in Santiago, Chile. P...
  • Company: Umicore Brasil Ltda.  (Umicore Brasil)
  • The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
  • Company: Cedro Mineração Ltda.  (Cedro Mineração)
  • Cedro Mineração is a Brazilian mining company specialized in the extraction, processing and commercialization of iron ore. Cedro was founded in 2018 and in 2020 it acquired the ...