Billion-dollar investments boost the stainless steel market in mining. Projected contributions of 64,5 billion dollars by 2028.

São Paulo, March 2024 – After experiencing a scenario of stability in 2023, with revenues of around R$248 billion, projections remain quite optimistic for the mining sector in Brazil in the coming years. According to Ibram (Brazilian Mining Institute), in the country, investments in the segment are expected to exceed 64 billion dollars by 2028, leveraged especially by the high demand for critical minerals – such as lithium and copper –, widely applied in the energy transition processes for sources renewable.

The expectation is that Brazil will position itself as a global protagonist in the production of these strategic minerals, taking advantage of its vast geological potential. Furthermore, investments in the sector promise to boost the national economy, generating jobs and stimulating regional development. With the growth in demand for clean energy sources, the country has the opportunity to consolidate itself as an important global supplier of essential minerals for the energy transition, thus contributing to a more sustainable and resilient future.

Composed of lithium, copper, and other minerals, stainless steel is commonly applied to pipes and tanks, as well as drilling rigs, tools, walkways, and many other items.

According to Marcos Ledo, President Director of Krominox, the expansion and confidence level generated by the mining sector, especially due to the good expectations for the coming years, keep other markets, such as stainless steel, heated. The metallic alloy, in addition to offering excellent durability and resistance to corrosion, something very present in production processes in the minerals industry, has been a sure bet lately, especially in terms of sustainability.

“We have felt a strong increase in this specific sectoral demand in recent years and, strategically, we are preparing to absorb these needs. Stainless steel is commonly applied to pipes and tanks, as well as drilling platforms, tools, walkways, and many other items used in mineral processing”, points out the executive at Krominox, which is currently the national leader in the production of pipes and solutions in stainless steel.

Mining is an important area for renewable sources, providing key inputs for solar panels and the production of electric vehicle batteries.

Still according to Ledo, in addition to all these attributes of strength and resistance, like other segments, the mineral sector has also undergone the energy transition, a process in which the use of stainless steel gains even more notoriety.

“Mining is an important area for renewable sources, providing fundamental inputs for solar panels and the production of electric vehicle batteries. At the same time, the sector is also seeking to adapt to this new scenario, using clean energy for its own operations. Therefore, the choice for stainless steel becomes even more relevant, after all, we are talking about an ecological and fully recyclable metal alloy that can be applied at different stages of this industry”, points out the executive.

Krominox is one of the main Brazilian companies specialized in the manufacture of stainless steel tubes and solutions

Present in the steel market for over 25 years, Krominox is one of the main Brazilian companies specialized in the manufacture of stainless steel tubes and solutions. With a strong presence in the sugar and alcohol sector and a leader in the paper and cellulose segment, Krominox demonstrates all its expertise and quality for the manufacture of customizable tubes, within all different gauge standards and tailor-made lengths, according to the specific need of each project.

The company also manufactures and supplies solutions to the automotive, food, sanitation and treatment, pharmaceutical, chemical and petrochemical sectors, among others. For more information about Krominox, visit: www.krominox.com.br