Brazil Plans to Boost Iron-Ore Royalties

Bloomberg reported Brazil plans to boost taxes on iron ore  as part of a plan to overhaul mining regulations.

As quoted in the market news,

The government is studying a plan to double the royalty on iron ore to 4 percent of gross revenue from 2 percent of net sales now, Claudio Scliar, the ministry’s secretary for geology and mining, said today in an interview.

Click here for the full Bloomberg report.