Further plans to attract greater foreign investment in the mining sector include removing the requirement of majority (51%) Brazilian ownership for projects within 150 kilometres of Brazil’s border. This area accounts for over 25% of the country’s territory and contains various important mineral deposits including gold, iron ore, copper and nickel.
Both initiatives taken together signal a new willingness to attract foreign investment in the mining sector and a hoped for return to exploration activity after a stagnant period following the commodities super cycle.
Norton Rose Fulbright Consultores em Direito Estrangeiro is a foreign legal consultancy based in Rio de Janeiro, Brazil. Our Brazil team practices English, New York and Canadian law and regularly assists foreign investors with their inbound investments to Latin America and the Southern Cone. For more information please contact Andrew Haynes, Richard Sobkiewicz and David McIntyre.