June 18, 2013 / 3:43 PM / 4 years ago

Brazil's Vale says royalties increase to hurt companies -CEO

BRASILIA, June 18 (Reuters) - Chief Executive Murilo Ferreira of Brazil's Vale SA, the world's largest iron ore miner, said on Tuesday the government's plan to double royalties for the mining sector would have a major impact on companies.

The government's total revenue from mining royalties would rise to $4.2 billion reais ($1.93 billion) from $1.7 billion reais, he said after the bill was announced.

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