Business News Americas reported that scheduled to be sent to the Brazilian congress in April 2011, the country's new mining regulatory framework is still waiting for the government to draw up three bills to regulate the sector.

The report said that local miners are not surprised by the continued delays, as the sector's companies are well acquainted with the difficulties the government has had in closing the new regulatory framework.

According to Mr Tadeu Carneiro GM of CBMM's, the new mining code has stalled because it is too complex, as it involves political interests from the ministries of planning and finance in addition to the mines and energy ministry. CBMM is the world's biggest niobium producer.

The MME is responsible for updating the current code in the industry which dates back to the 1960s and responsible for increasing royalty collection similar to the practices being enforced in several other mineral producing countries.

Mr José Fernando Coura, president of Brazilian mining association Ibram, however, has a more straightforward explanation for the delay to the new mineral code said that "It is not the government's priority."