Brazil lower house approves higher mining royalties - Nasdaq

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BRASILIA, Nov 22 (Reuters) - Brazil's lower house of Congress early on Wednesday approved a bill raising mining royalty rates on a wide range of commodities from iron ore to gold, part of broader reforms for the sector proposed by President Michel Temer to boost the economy.

The measure will now pass to the Senate. The bill must be fully approved by November 28 or face expiry, as Temer proposed the reforms via temporary decrees that must receive congressional approval to become permanent.

Two other temporary decrees that seek to streamline mining rules and create a new agency to regulate the sector have yet to go to a vote in the lower house and face the same deadline for full approval.

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