Brazil’s iron ore shipments fell by 3.3pc to 76.6mn mt in Q2 2020 this year compared to the same period last year. Iron ore exports had reached 78.1mn mt in Q2 2019.

 

Iron ore exports from the South American country were valued at $4.8bn in Q2 2020, down by 5.3pc from $5.1bn reached in Q2 2019, according to the latest data from the Brazilian Mining Association (Ibram).

 

Brazilian mining companies reached an output value of BRL39bn ($7.5bn) in Q2 2020. Of this amount, BRL$23.2bn corresponds to shipments of iron ore, BRL$3bn to copper, BRL$1.2bn to aluminum, BRL$384.6mn to nickel, and BRL$139.9mn to zinc.

 

The Brazilian government’s royalties received from mining companies dropped by 9.8pc to BRL$1.09bn in Q2 2020, down from BRL$1.21bn reached in the same quarter last year.

 

Of the total royalties received during the quarter, about BRL$802mn came from iron ore companies, BRL$60mn from copper miners, and  BRL$38mn from aluminum companies, Ibram noted.

 

Brazilian mining companies will invest about  BRL$32.5bn between 2020 and 2024 to develop infrastructure to improve their mining operations, Ibram said without disclosing further details.

 

($1=BRL5.18)

Leave a Reply

Your email address will not be published.