Brazil’s Para state to initiate to mining tax in April

Friday, 23 March 2012 01:33:46 (GMT+2)

According to global news sources Thursday, Brazil's Para state plans to implement a new tax on mining production in April. The government would charge R6.9 (US$3.78) per ton mined. Proceeds from the new tax will grant the Para state increased control over Brazil's natural resources and will fund the formation of a new database that will track what companies are involved in mining activity, where and how much. The tax was initially approved by Brazil's government in December of last year.

Vale, the world's largest iron ore miner, is Brazil's largest iron ore exporter and operates its largest iron ore mine in Brazil's Para state.

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