Decreased budget might hamper ANM’s efforts to regulate Brazilian mining sector

Wednesday, 23 September 2020 00:44:00 (GMT+3)   |   Sao Paulo

A decreased budget for next year might hamper the efforts of Brazilian National Mining agency, ANM, to regulate the sector, according to a media report from Estadao.

The Brazilian Ministry of Economy will reduce ANM’s budget from BRL 67.5 million ($12 million) this year to BRL 61.4 million ($10.9 million), a 9 percent year-over-year decrease.

The director of ANM, Victor Hugo Froner Bicca, has sent a document to the Ministry of Economy arguing the agency has barely been able to manage its role as a regulator. Bicca argued that to properly execute its regulator role, ANM would need at least BRL 155 million ($27.7 million). Bicca said the reduced budget will negatively affect the future of ANM.

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