Brazil's mining industry is ramping up its efforts to prevent the implementation of a new tax as the Brazilian government signals its intention to increase spending. The mining association, Ibram, has expressed concerns about proposed regulations that could impose a selective tax on activities with detrimental health impacts. This tax could potentially reach 1% for the mineral extraction and oil production sectors. Ibram argues that such a tax would create an imbalance in tax justice and penalize a vital sector for the economy. The mining sector has been a significant contributor to Brazil's positive trade balance, accounting for 32% in 2023 and 47% in the first half of 2024. These lobbying efforts come as President Luiz Inácio Lula da Silva expresses frustration over the slow progress in the compensation agreement for the Mariana tailings dam collapse in 2015. The attorney general's office recently rejected a compensation offer from Vale-BHP and is requesting fresh funds to be paid over 12 years. Lula has requested an update on the progress of the agreement. [3f8c6e1c]