By Andrew Willis, Contributing Reporter
RIO DE JANEIRO, BRAZIL – A mining bill in Brazil aims to create a powerful new independent regulator for the sector, endowed with powers to auction mining concessions and set minimum investment levels for companies. The draft law, sponsored by Senator Gim Argello (PTB-DF) and recently presented to Congress, forms part of a package of measures designed to overhaul Brazil’s current mining code which dates back to 1967.
“The government has a duty to ensure the rational use of mineral resources in response to public interest, observing national security, state sovereignty and sustainable development . . .