Temer: New measures increase security and transparency in mining
Mining Code will have stricter environmental requirements and new rules to improve the environment of the sector
Two presidential decrees signed on Tuesday (12 June) will propel Brazilian mining to a new level in history, President Michel Temer said. The new laws modernise the Mining Code, in force for more than 50 years, and bring new rules for Brazil's mining royalty system, called Financial Compensation for the Exploration of Mineral Resources.
“We are announcing measures that reflect international best practices, increase legal certainty, facilitate access to credit, ensure the continuity of mineral research and give more transparency and objectivity to all administrative processes in the sector," Temer said during the signing of the laws at the Presidential Palace.
Under the first decree, non-producing municipalities impacted by mining-related transportation and shipment activities and by the presence of industrial facilities in their territory will receive 15% of the compensation. The second decree updates the Mining Code to include stricter environmental requirements, such as the use of mandatory explicit provisions holding miners responsibility for the recovery of degraded areas.
“Sustainability is the goal of many of these new rules we just issued. We all want increasingly competitive, innovative, sustainable mining. This is almost a culmination of the great reforms we have made in our administration. This is a reformist law that gave meaning, significance and substance to a very important sector that has done so much for the development of our country," Temer highlighted.