Brazilian President amends Mining Law to attract Investment

SMM6, March 13: Brazilian President Temer (Michel Temer) issued two decrees on Tuesday making major changes to the country's 50-year-old mining regulations aimed at improving the competitiveness of the country's mining industry and promoting its sustainable development. According to O'Globo, a local newspaper, the first decree includes measures that allow mining companies to use mining rights as financing guarantees, while also allowing mining companies to continue to exploit mineral resources, even if applications for mining permits have not yet been approved. The new mining law also establishes stricter environmental regulations and implements plans to close some mines.