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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
05/07/201513:34:48Report of Foreign Issuer (6-k)
05/06/201511:00:00Report of Foreign Issuer (6-k)
04/27/201510:13:00Report of Foreign Issuer (6-k)
04/10/201518:31:04Gerdau: Oversupply In The Steel Market Makes It A Stock To Avoid...
03/31/201515:11:18Annual and Transition Report (foreign Private Issuer) (20-f)
03/27/201506:07:40Report of Foreign Issuer (6-k)
03/18/201511:06:59Specialized Disclosure Report (sd)
03/06/201510:34:15Report of Foreign Issuer (6-k)
03/04/201518:53:08Gerdau's (GGB) CEO Andre Bier on Q4 2014 Results - Earnings Call...
02/23/201510:09:10The Finest Steel Must Endure The Hottest Fire
01/20/201507:33:12Report of Foreign Issuer (6-k)
01/19/201506:36:00Gerdau S.A. announces Share Buyback Program
01/06/201518:11:07ADR Shares End Mixed; Oil, Gold Shares Trade Actively
11/10/201416:04:08Brazil Stocks Close Lower, Real Recovers Some Losses From Past...
11/06/201416:37:59Report of Foreign Issuer (6-k)
10/08/201416:28:32Report of Foreign Issuer (6-k)
09/16/201421:50:32U.S. Steel Canada to Seek Creditor Protection
09/16/201421:20:07U.S. Steel Canada to Seek Creditor Protection -- Update
09/15/201410:08:56Report of Foreign Issuer (6-k)
07/31/201414:47:10Report of Foreign Issuer (6-k)

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