Vale perplexed by higher iron ore royalties rate in Brazil

Vale is “bothered” and "clearly not satisfied" with the rise in iron ore royalties in Brazil, as it affects its competitiveness and adds further costs to its output structure, ceo Fabio Schvartsman said.

“Even worse than the rate increase is the legal uncertainty that [the new mining code] has brought, as it changed the [royalties] calculation” he told analysts in a conference call on...

Published

Ana Paula Camargo

July 27, 2017

17:15 GMT

São Paulo