Brazil denies rumors on iron ore tax imposition plans

The Brazilian finance ministry has denied a newspaper report that the government is considering the imposition of an iron ore export tax or that it would cut taxes on steel, with the aim of stepping up investments in local steel production and boosting domestic demand for iron ore.
 
"The government is not undertaking any analysis on the subject. Nor has the president requested the finance ministry to study this issue," the finance ministry said in its statement.
 
The news came as Brazilian mining giant Vale is seeking a replacement for CEO Roger Agnelli, following government pressure and criticism for not spending enough on some Brazilian projects.