Search: News Price
Home |  Register |  Price Index  |  Publication |  Consultancy |  Data |  Events |  Enquiry |  Language
Mar.29.2024 1USD=7.0948RMB
  SteelHome >>Raw Material>>Market Info>>International Dynamics
 
Brazil Mining Royalties Jump 40% to Record High

https://en.steelhome.com [SteelHome] 2020-02-24 08:31:23

share to social network site
Even with Vale (NYSE: VALE) posting this week a loss of $1.68 billion in 2019, Brazil set a record on royalties received from mining companies.

Brazil received $1.03 billion in mineral royalties in 2019, according to the Brazilian Mining Agency. The royalties paid by mining companies were 48.3% or $700 million, higher than the previous year and 145% higher than 2017, when the government changed the way it charges the mining sector.

Until 2017, royalties were charged on net billing, discounting transportation and logistics costs, which decreased the amount owed. Royalty is now charged on the gross revenue from the sales.

According to the Association of Mining Municipalities of Minas Gerais and Brazil (AMIG), iron ore was responsible for 76% of all royalties received, boosted by high exports. Gold royalties increased 50% due to the increase in production and the price of the metal on international markets.

Vale was the company that paid the most in royalties with $566 million – or 54.8%.

In a research note, AMIG economist Luciana Mourão said that in 2020, the collection of royalties will depend especially on China’s demand for iron ore after the coronavirus outbreak.

Source: Mining
Related News
Search
News Price
Hot Topics
Latest Update
Most Viewed
上海市通信管理局
沪B2-20040629
Copyright© 2004-. SteelHome.com. All Rights Reserved
Shanghai SteelHome Information Technology Co., Ltd    Tel: +86) 021-50585733, 50585358    Fax: 021-50585277