Brazil’s mineral production rose by 2.5pc to 1bn mt in 2020, from 985mn mt in the prior year according to the Brazilian Mining Association (Ibram). Revenue from minerals revenue also increased by 36pc to BRL209bn ($39bn) from BRL153bn during this period.
The South American country’s mineral exports rose by 2.4pc to 371mn mt last year, from 363mn mt in 2019. By value, mining exports reached $37bn up 11pc from $33bn during the same timeframe.
Of the total amount exported in 2020, about 341.6mn mt corresponds to iron ore, up 0.3pc from 340.50mn mt shipped in 2019, Ibram noted, adding that the main destinations for iron ore last year were China, which imported 72pc of the total iron ore exported from Brazil, followed by Malaysia at 6.6pc, Japan at 3.5pc, and the Netherlands at 2.2pc. Brazil’s minerals imports, on the other hand, fell by 30.4pc to 28.5mn mt in 2020, from 41mn mt in 2019.
The Brazilian mining industry plans to invest BRL38bn between 2020 and 2024. Of this amount, about BRL15.5bn will be used to develop iron ore projects across the South American country, Ibram indicated.