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This paper likens the international mining industry to a street-market. When a multinational company is considering where to invest, it has a large number of choices. For evaluation, a mining company is likely to focus on three main issues – geological risk and reward, political and macro-economic risk and the fiscal system. Brazil ranks highly with respect to both proven reserve and production, but the perception of political and macro-economic risk is also high. So Brazil's fiscal policy becomes of critical importance in determining investment policy. It contrasts government and company objectives and examines the concepts of "economic rent" and the characteristics of tax regimes. It examines the case for tax allowances for the mineral industry and mineral taxation in federal systems.
by C P Andrews-Speed, 1997, 25pp
Price : Download free, ISBN 0 906343 98 4
CEPMLP Information Service Ref: SP25
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