Brazil’s mineral sector showcased a remarkable 25% revenue increase in the first quarter of 2024, hitting R$68 billion (approximately $13.33 billion).
This surge stems from strong export performance and enhanced production across various minerals.
During this period, the export volume rose to 87.5 million tons, an 11.3% increase from the previous year, generating $10.9 billion in revenue—an 18.3% rise.
Iron ore, a major export, contributed significantly with an 11.9% increase in volume, reaching 84.1 million tons.
Royalties from mining, known as CFEM, climbed by 29.8%, reaching R$1.93 billion (about $378 million). This boost reflects the overall sector’s growth in both revenue and production.
The sector looks forward to substantial growth, with an estimated $50 billion in investments planned from 2023 to 2027.
Investors project copper to experience the highest increase, with investments expected to grow by 255% to $4.47 billion. Both nickel and iron ore are also set for significant investment increases.
This robust performance underscores the sector’s crucial role in bolstering Brazil’s economy.
It promises not only immediate financial benefits but also long-term economic sustainability through strategic investments in various minerals and infrastructure.
These summaries, sourced from the Brazilian Mining Institute (Ibram), offer further insights and detailed projections.