Brazil raises iron ore and gold royalties

27 November 2017

Earlier in the week, Brazilian government voted to increase royalties by 75% on iron ore and 50% on gold after both the lower and upper houses agreed to an amended bill. Increases were proposed earlier this year and the lower house has also approved creating a national mining agency (ANM) and will consider a third proposal to streamline mining rules.

Under the bill iron ore royalties will rise from 2% to 3.5%, rather than the proposed 4%, and gold royalties will increase from 1% to 1.5%, not 2%. Besides, the potassium royalties would drop from 3% to 0.2% and the rates on other materials including diamonds were unchanged.