CBMM explores two niobium deposits in Araxá, in Alto Paranaíba: one from it and the other from the State of Minas Gerais | Photo: CBMM/Disclosure
CBMM – Companhia Brasileira de Metalurgia e Mineração published its balance sheet yesterday, referring to operations and results for the year 2023. From a net revenue of R$ 11.425 billion, costs of products sold of R$ 3.758 billion were deducted, plus revenues financial, etc., etc., leaving the amount of R$ 8.107 billion, before Income Tax and Social Contribution, in the amount of R$ 3.097 billion. All these deductions and revenues led to the profit being distributed to shareholders in the amount of R$4.950 billion. Of the taxes paid – R$3.097 billion – not a single cent will come directly to Minas Gerais, because CBMM exports the total of its production and this reality of non-taxation results from the infamous Kandir Law. Let’s wait now to see how much of this R$4.950 billion will enter the cash of the state-owned companies Codemge/Codemig. Does anyone risk a value? Remembering that 50% of this revenue comes from niobium reserves in the public assets of the State of Minas Gerais. OK?
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