SMM9: (ANM), the Brazilian mining agency, has launched a public consultation on the company's use of mining rights as a guarantee for financing, which has been open for 30 days. ANM said the purpose of such discussions was to provide alternatives for mining companies to expand their projects and to provide legal security to encourage credit in the industry.
ANM said it had opened up the topic for public discussion to bring certainty to investors and mitigate the impact of the outbreak on business. TomasdePaula pessoa, director of ANM, said mining is a risky business and large mining countries have many project financing instruments, such as credit lines, stock exchanges, venture capital, mobile contracts and other structured businesses. He said his task was to enact a decree aimed at enacting a mining bill that would give the company more resources to develop and finance projects.
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