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DewDiligence

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Re: DewDiligence post# 422

Thursday, 10/22/2009 1:17:44 AM

Thursday, October 22, 2009 1:17:44 AM

Post# of 30546
Brazil Scraps Proposed Export Tax on Iron Ore

[There never was a serious plan to enact such a tax, IMO, but the threat served its purpose in allowing Lula to get a face-saving concession from VALE (#msg-42685561).]

http://www.reuters.com/article/marketsNews/idAFN0352309620091021

›Wed Oct 21, 2009 12:47pm EDT

BRASILIA, Oct 21 (Reuters) - Brazil's government has scrapped a plan to tax iron ore exports after President Luiz Inacio Lula da Silva met with the head of miner Vale (VALE), a government source told Reuters on Wednesday. The source said the government floated that proposal as a means of pressuring Vale to hike its investments in Brazil.‹


“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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