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Brazil Mining Cos Say Government Stimulus 'First Step' To Competitiveness Boost

RIO DE JANEIRO -(Dow Jones)- Brazil's new industrial stimulus measures are welcome but only go a "first step" toward boosting the mining industry's competitiveness, the country's mining institute Ibram said Tuesday. The measures announced won't directly benefit mining companies, Ibram said in an emailed statement. However, they may favor mining companies in the long term as logistics should improve via incentives given to railroad and port development, which should reduce ore transport costs, Ibram said. Earlier Tuesday the Brazilian government announced a broad package of tax incentives and reduced interest rates on loans for various industrial sectors, in a move to boost the country's industrial output performance, ward off import surges, and boost international competitiveness. The package of measures fails to address specific problems faced by the mining industry, which include high energy prices and lack of sufficient geological research, problems with environmental licensing, creation of conservation areas without an assessment of local geology, water supplies, trained manpower and the overall high tax burden on the sector, Ibram said. "However, the actions taken could stimulate mineral demand in sectors which benefit from the tax breaks, as well as maintaining mining as a major player in the international market," the institute said. -By Diana Kinch, Dow Jones Newswires, 55 21 7564 4495 diana.kinch@dowjones.com -0-

Stock News for Gerdau (GGB)
DateTimeHeadline
11/09/201614:39:22Report of Foreign Issuer (6-k)
11/09/201614:02:18Report of Foreign Issuer (6-k)
11/09/201607:00:00Gerdau S.A.: Consolidated information
10/26/201609:15:00Steel Manufacturers Gain Popularity Once Again
08/10/201614:23:49Report of Foreign Issuer (6-k)
08/10/201613:37:28Report of Foreign Issuer (6-k)
08/10/201609:41:00Gerdau S.A. - Consolidated Information
08/10/201607:40:25Report of Foreign Issuer (6-k)
07/25/201612:27:00July 25th Deadline Alert: The Wagner Firm Reminds Gerdau S.A...
07/22/201610:25:57UPCOMING DEADLINE: The Law Offices of Vincent Wong Reminds Investors...
07/21/201610:30:00GGB Investors: The Wagner Firm Announces the Filing of a Securities...
07/20/201610:30:00July 25 Deadline Alert: Law Offices of Howard G. Smith Reminds...
07/18/201618:51:24NOTICE: Rosen Law Firm Reminds Gerdau S.A. Investors of Important...
07/18/201615:42:41DEADLINE ALERT – GERDAU S.A. - Brower Piven Reminds Investors O...
07/18/201610:50:01SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders...
07/13/201617:02:55Report of Foreign Issuer (6-k)
07/13/201610:30:00GPM Reminds Investors of the July 25 Deadline in the Class Action...
07/12/201609:43:00INVESTOR ALERT: Levi & Korsinsky, LLP Reminds Shareholders of...
07/11/201613:49:00IMPORTANT INVESTOR NOTICE: Lundin Law PC Announces Securities...
07/08/201612:28:00GGB SHAREHOLDER ALERT: The Law Offices of Vincent Wong Reminds...

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