Brazil’s BNDES to present proposals to boost mining sector

RIO DE JANEIRO, BRAZIL – The Ministry of Mines and Energy (MME) on Tuesday, February 8, signed a cooperation agreement with the National Bank for Economic and Social Development (BNDES). The initiative foresees the presentation of proposals for the sector’s sustainable development.

The initiative is part of Mining Week, a Ministry event that aims to debate the challenges of the mineral sector in Brazil over the coming days.

During the signing ceremony, BNDES president Gustavo Montezano said that, by late June, the bank should release a report with proposals in the areas of financing, innovation and sustainability in mining. He said this is similar to what BNDES has been doing in the sanitation and gas sectors, by structuring projects to increase investments and the development of these markets.

For Montezano, the sector is viewed with prejudice and attracting investments and developing initiatives that cause a positive environmental impact is crucial.

“There is nothing to say about any sector today in Brazil and in the world without discussing sustainability. Thus, in the mining sector, we should think of alternatives in which we address the circular economy, in which we make a positive environmental impact in the sector. Mining has the potential to have a positive impact on the environment, if it is correctly sized,” he said.

Through Thursday, the MME will hold lectures, workshops and seminars about the mining sector. The project to build the National Mining Plan 2050 will also be presented.

GROWTH

The total output of the Brazilian mining sector reached 1.150 billion tons last year, up 7% over the 2020 total of 1.073 billion tons, according to recent data released by the Brazilian Mining Institute (IBRAM). The sector’s global turnover reached R$339 (US$64.4) billion, up 62% compared to the R$209 billion posted the previous year.

Currently, the sector directly employs 200,393 people and accounts for about 4% of the country’s Gross Domestic Product (GDP).

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