ANM Precedents

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ANM precedent addresses CFEM calculation basis in pelletizing operations

On May 5, 2026, the Brazilian National Mining Agency (ANM) issued Precedent No. 14/2026, consolidating the understanding that the pelletizing process does not constitute industrial transformation, but rather mineral beneficiation. As a result, the Agency rejects the characterization of pelletizing as an independent industrial stage for purposes of the Financial Compensation for Mineral Exploitation (CFEM).

According to the Precedent: “The pelletizing process does not constitute industrial transformation, being characterized as beneficiation, which establishes the CFEM calculation basis at the time of sale of the mineral product.”

ANM consolidates its interpretation on the cash basis for CFEM distribution

On June 8, 2026, the Brazilian National Mining Agency (ANM) issued Precedent No. 15/2026, consolidating its understanding that the distribution of the Financial Compensation for Mineral Exploitation (CFEM) to beneficiary entities is subject to the cash basis. Accordingly, the legislation applicable to the distribution is that in force on the date the amounts are effectively collected, rather than on the date of the taxable event or the constitution of the credit.

According to the Precedent: “The distribution of the Financial Compensation for Mineral Exploitation (CFEM) to beneficiary entities is subject to the cash basis, and the legislation in force on the date the amounts are effectively collected shall apply.”

ANM consolidates its interpretation on the submission of environmental licenses in applications for mining concessions

On June 30, 2026, the Board of Directors of the Brazilian National Mining Agency (ANM) approved Precedent No. 16, consolidating the understanding that the submission of a valid, in-force installation or operating environmental license, compatible with the Economic Exploitation Plan (Plano de Aproveitamento Econômico – PAE), at any time before the final administrative decision precludes the denial of an application for a mining concession under Article 31, §4, of the Mining Code Regulation (Decree No. 9,406/2018).

The precedent seeks to prevent the rejection of applications for mining concessions where the applicant obtains a valid environmental license during the administrative proceeding, giving precedence to the substantive regularity of the project over procedural formalities. According to the ANM, the measure is expected to reduce obstacles to the granting of mining rights, improve the efficiency of administrative proceedings, and enhance legal certainty for investments in the mining sector.

According to the Precedent: “The submission of a valid, in-force installation or operating environmental license, compatible with the Economic Exploitation Plan (PAE), at any time before the final administrative decision precludes the application of the denial provided for in Article 31, §4, of the Mining Code Regulation (Decree No. 9,406/2018).”

This content is part of the Mining Newsletter for the month of June 2026, bringing together the main sector highlights of the period. We emphasize that this material is for informational purposes only. Our team is available to provide additional information on these and other topics.