The lower house of the Brazilian Congress passed a personal and corporate income tax reform bill on Wednesday September 1 that included a 1.5 percentage point increase in mining royalties, while adding new commodities that will be subject to that change.
The bill was approved by 398 votes against 77. It was intended to raise the Financial Compensation for Exploration of Mineral Resources - Cfem in Portuguese, the official designation of mining royalties in the country - to 5.5% from the current 4%.Niobium and lithium were included in the list of mining...