Sabrina Lorenzi – Reuters, 06/27/2012
RIO DE JANEIRO, June 27 (Reuters) – Brazil is considering cancelling some mineral rights in areas considered “strategic” and compensating mining companies for prospecting work done on those claims, high-level Brazilian government and mining industry officials told Reuters.
If enacted, the plan could limit exploration rights and raise prospecting costs of companies with mining operations in the country, such as Brazil’s Vale SA and MMX Mineração e Metalicos SA, Great Britain’s Anglo American Plc and Australia’s BHP Billiton.
Metals and minerals being considered as “strategic” include potash, rare-earth metals and phosphates, the sources said. Large iron-ore deposits that have not yet been leased may also be set aside as strategic and held for special auctions.
