Brazil Mining Cos Say Government Stimulus 'First Step' To Competitiveness Boost
04 Avril 2012 - 12:31AM
Dow Jones News
Brazil's new industrial stimulus measures are welcome but only
go a "first step" toward boosting the mining industry's
competitiveness, the country's mining institute Ibram said
Tuesday.
The measures announced won't directly benefit mining companies,
Ibram said in an emailed statement. However, they may favor mining
companies in the long term as logistics should improve via
incentives given to railroad and port development, which should
reduce ore transport costs, Ibram said.
Earlier Tuesday the Brazilian government announced a broad
package of tax incentives and reduced interest rates on loans for
various industrial sectors, in a move to boost the country's
industrial output performance, ward off import surges, and boost
international competitiveness.
The package of measures fails to address specific problems faced
by the mining industry, which include high energy prices and lack
of sufficient geological research, problems with environmental
licensing, creation of conservation areas without an assessment of
local geology, water supplies, trained manpower and the overall
high tax burden on the sector, Ibram said.
"However, the actions taken could stimulate mineral demand in
sectors which benefit from the tax breaks, as well as maintaining
mining as a major player in the international market," the
institute said.
-By Diana Kinch, Dow Jones Newswires, 55 21 7564 4495
diana.kinch@dowjones.com
-0-
Usinas Siderurgicas De M... (PK) (USOTC:USNZY)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Usinas Siderurgicas De M... (PK) (USOTC:USNZY)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
Real-Time news about Usinas Siderurgicas De Minas Gerais SA (PK) (OTCMarkets): 0 recent articles
Plus d'articles sur Usinas Siderurgicas de Minas Gerais S/A ADS