Brazil’s Mining Fiscal Regime: H1 2014

The mining industry in Brazil is governed by the Ministry of Mines and Energy (MME) and the Brazil Geological Survey (CPRM). The Mining Code of 1967 regulates all exploration and extraction activities of minerals in Brazil. The code specifies deposits and mines, and sets rules and regulations for authorization, concession, licensing and permits, and plans the duties of holders of mining rights and regulating authorities, among others.

Scope

The report outlines Brazil's governing bodies, governing laws, mining licenses, rights and obligations and key fiscal terms which includes Royalty, Corporate Income Tax, Land Owner Royalty, Annual Tax, Withholding Tax, Depreciation and VAT.

Key Highlights

• The mining industry in Brazil is governed by the Ministry of Mines and Energy (MME) and the Brazil Geological Survey (CPRM). The Mining Code of 1967 regulates all exploration and extraction activities of minerals in Brazil.

• The MME came into existence in 1960. It is an apex body for the formulation and administration of regulations relating to the mining and energy industries’ resources.

• The DNPM is a federal agency and report to the MME. The department was incorporated in 1934 and became an independent self-regulatory institution in 1994. It focuses on the planning and promotion of mineral exploration, and supervises geological and mineral technology.

• The CPRM is a federal government organization under the jurisdiction of the Ministry of Mines and Energy. It was established in 1969, and became an entirely state-owned institution in 1994.

Reasons to buy

To get an overview of Brazil's mining fiscal regime.

Companies mentioned

Table of Contents

1 Executive Summary 1

2 The Brazilian Mining Industry – Governing Bodies 5

2.1 Ministry of Mines and Energy (MME) 5

2.2 National Department of Mineral Production (DNPM) 5

2.3 Brazil Geological Survey (CPRM) 5

2.4 National Commission of Nuclear Energy (CNEN) 5

2.5 Industrias Nucleares do Brasil SA (INB) 6

2.6 Ministry of Science and Technology (MCT) 6

3 The Brazilian Mining Industry – Governing Laws 7

3.1 The Mining Code 7

3.2 Law No. 4.118 7

3.3 Law No. 6.189 7

3.4 Law No. 9765 7

4 The Brazilian Mining Industry – Mining Licenses 8

4.1 Exploration Authorization System 8

4.2 Exploration Authorization Permit 8

4.3 Mining Concession System 9

4.4 Environmental Impact Assessment (EIA) study for Mining Activity 9

4.5 Environmental Licensing for Mining Activity 9

5 The Brazilian Mining Industry – Rights and Obligations 10

5.1 Rights 10

5.2 Obligations 10

6 The Brazilian Mining Industry – Key Fiscal Terms 11

6.1 Royalty 11

6.2 Corporate Income Tax 11

6.3 Land Owner Royalty 11

6.4 Annual Tax 12

6.5 Withholding Tax 12

6.6 Depreciation Rates 12

6.7 Value Added Tax 13

7 The Brazilian Mining Industry – Future Development 14

8 Appendix 15

8.1 What is this Report About? 15

8.2 Methodology 15

8.3 Secondary Research 15

8.4 Primary Research 15

8.5 Contact GlobalData 16

8.6 About GlobalData 16

8.7 GlobalData’s Services 17

8.8 Disclaimer 18

List of Tables

Table 1: The Mining Industry in Brazil – Fiscal Regime Terms and Other Taxes 1

Table 2: The Mining Industry in Brazil – Uranium Licensing Fees (BRL $), 2014 11

Table 3: The Mining Industry in Brazil – Federal Royalty (%), 2014 11

Table 4: The Mining Industry in Brazil – Mining Taxation (%), 2014 12

Table 5: The Mining Industry in Brazil – Depreciation Rates (Years and %), 2014 13

List of Figures

Figure 1: The Mining Industry in Brazil – Commodity Mines at Different Stages 1

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