Finally a New Mining Regulatory Framework in Brazil
After a long expectation period of almost five years, the Bill of Law No. 5,087/2013 which was submitted to the analysis of the National Congress with constitutional urgency (urgência constitucional) (“Bill of Law No. 5,087/2013”) was made available to the public on June 20, 2013, providing, among others, new rules applicable to mining activities, and the creation of the Conselho Nacional de Política Mineral – CNPM and of the Agência Nacional de Mineração – ANM.
Due to the constitutional urgency, the voting of Bill of Law No. 5,087/2013 shall not exceed 100 (one hundred) days (being 45 (forty-five) days in each of the National Congress houses, plus 10 (ten) days in case any amendment is proposed to it).