Brazil Plans to Cut Fertilizer Royalty in Half, Folha Reports

Brazil plans to cut its royalty rate on fertilizers in half as part of a plan to overhaul mining rules in the South American nation, Folha de S. Paulo reported, without saying where it got the information.

The measure, which is almost ready for the government to send to Congress, proposes cutting the rate on fertilizers to 1.5 percent from the current 3 percent, while raising the levy on iron ore to 4 percent from 2 percent, the newspaper said.

To contact the reporter on this story: Jessica Brice in Sao Paulo at jbrice1@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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