The 646-Carat Diamond Found in Coromandel Will Yield Millions, but Only 2% of Its Value Returns to Brazil in Taxes, Exposing the Low Returns of Diamond Mining

Written by Bruno Teles

Published on 08/09/2025 at 18:59

Diamante bruto de 646 quilates achado em Coromandel repete feito de 1938, mas só 2% do valor milionário ficará no Brasil, diz ANM

408 pessoas reagiram a isso.

According to the National Mining Agency (ANM), the discovery of the rough diamond repeats a historical feat from 1938, but exposes the low return of mining for the country.

A rough diamond of 646.78 carats was found in Coromandel, in the Triângulo Mineiro/Alto Paranaíba region, and announced by the National Mining Agency (ANM) on September 7, 2025. The stone is considered the second largest ever recorded in Brazil, behind only the famous Getúlio Vargas diamond, which is 727 carats, discovered in the same city in 1938.

Despite the magnitude of the discovery and the million-dollar value that the gem could reach in the international market, only 2% of the sale value will return to Brazil in the form of taxes. This percentage is set by the Financial Compensation for the Exploitation of Mineral Resources (CFEM) and represents a minimal fraction of the wealth extracted from the national territory.

The Discovery in Coromandel

The 646-carat diamond found in Coromandel will yield millions, but only 2% of the value returns to Brazil in taxes, exposing the low return of diamond mining

According to the ANM, the diamond was found in an area with a Garimpeira Mining Permit (PLG), which ensures that the extraction was legal and under official supervision. The discovery was registered in May 2025, but has only now become public.

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Coromandel, historically known for gem extraction, thus returns to the international scene almost 90 years after the milestone of the Getúlio Vargas diamond. The mining town confirms its position as one of the main diamond mining hubs in the country.

Certification and Sale Process

The commercialization of the diamond will follow the rules of the Kimberley Certification Process (KCP), an international agreement created in 2003 to prevent precious stones from financing conflicts or illegal activities. In this system, the ANM registers all information about the stone, including weight, carats, origin, and destination.

Only after the issuance of the Kimberley Certificate can the diamond be sold in the domestic market or exported. This step is essential for the commercialization to be recognized globally.

The Low Return in Taxes

The most striking aspect is the economic return for Brazil. Under current legislation, the CFEM for diamonds is only 2% of the gross sales revenue. In practice, this means that even if the stone reaches million-dollar values at international auctions, only a minimal fraction will remain with the municipality, the state, and the Union.

According to the ANM, these resources are mandatorily allocated to areas such as health, education, and local infrastructure, but the amount is small compared to the value that investors and collectors can pay for the stone.

Debate on Mining Taxation

The case reignites the discussion about the tax policy of mining in Brazil. Rare and highly valuable natural resources, such as diamonds and other gems, generate fortunes for the global market, but little return for the producing regions.

While international buyers compete for stones of this caliber, mining municipalities like Coromandel receive a tiny share of the wealth extracted from their territory, reinforcing a debate that has spanned decades in the country.

In your opinion, should Brazil increase taxes on diamond exploitation to ensure a greater return to producing cities? Or does the current rate already balance competitiveness and revenue? Leave your opinion in the comments — we want to hear from those who experience this impact in practice.

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Brand

#172531

10/09/2025 21:28

Esse dinheiro dos impostos se for aumentado vai p bolso dos políticos e não p população

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Denilson Ferreira

#172523

10/09/2025 21:19

É mais fácil estourar o bolso da população em geral, do que taxar ricos, arrebentam nos impostos IPVA, IPTU, taxa sobre Lca e Lci, mais de 20% de Imposto de renda e por aí vai…

-2

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Dagil

#172508

10/09/2025 20:41

O Brasil mais uma vez sendo explorado, melhor ROUBADO. Se está dentro do nosso país é nosso.

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The 646-Carat Diamond Found in Coromandel Will Yield Millions, but Only 2% of Its Value Returns to Brazil in Taxes, Exposing the Low Returns of Diamond Mining

According to the National Mining Agency (ANM), the discovery of the rough diamond repeats a historical feat from 1938, but exposes the low return of mining for the country.

The Discovery in Coromandel

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Certification and Sale Process

The Low Return in Taxes

Debate on Mining Taxation

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The 646-Carat Diamond Found in Coromandel Will Yield Millions, but Only 2% of Its Value Returns to Brazil in Taxes, Exposing the Low Returns of Diamond Mining

According to the National Mining Agency (ANM), the discovery of the rough diamond repeats a historical feat from 1938, but exposes the low return of mining for the country.

The Discovery in Coromandel

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Certification and Sale Process

The Low Return in Taxes

Debate on Mining Taxation

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At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

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The end of total solar eclipses has a deadline: the Moon is moving away from the Earth at about 3.8 cm per year, and in approximately 600 million years, it will no longer completely cover the Sun, ending one of the rarest coincidences in the Solar System.

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