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At Historic High, Gold Mining Places Bahia Among Brazil’s Main Hubs, With Record Production, Growth in Exports, and New Industrial Projects.
Bahia is experiencing a new gold cycle. In 2024, the state recorded a historic performance in gold exports, and in 2025 the sector continues to accelerate, with significant growth in mineral production and robust targets announced by the mining companies operating in the Bahia territory. Recent numbers reinforce the state’s role as a strategic hub for mining in Brazil.
According to data compiled by the Secretary of Economic Development (SDE) based on ANM, Bahia’s mineral exports totaled US$ 754.48 million in the first half of 2025, of which US$ 444.81 million came from gold. The performance in 2024 had already been strong: US$ 747 million in exported gold, the best result of the recent series.
National gold production reached 81.5 tons in 2023, and Bahia stands out as one of the country’s highlights, with significant operations in Jacobina, Santa Luz, and Fazenda Brasileiro. This situation reinforces the trend of greater importance of gold in Bahia’s mineral matrix.
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Gold in Numbers in Bahia: Production, Exports, and Ranking
Between 2019 and 2024, Bahia sold 53.9 tons of gold, with Jacobina leading during this period. In 2024, the state reached US$ 747 million in gold exports and remained among the most relevant hubs of national mining. These data, published by sector entities based on ANM, consolidate the sector’s current moment.
In 2025, Bahia accelerated. From January to June, mineral exports totaled US$ 754.48 million, with gold accounting for the largest share of revenue. This movement reinforces the segment’s growth trajectory and the state’s attractiveness for new investments.
On a national level, ANM reports 81.5 tons of gold in 2023, with pressure for greater traceability and compliance to curb illicit activities, a factor that also positively impacts market confidence.
Jacobina and the “Bahia Complex”: Who Leads the Way?
The Jacobina mine, operated by Pan American Silver (JMC), set its historic record in 2024, producing 197,000 ounces of gold, and continues to be one of the pillars of Bahia’s mineral industry. The operation is undergoing optimizations for long-term productivity gains.
In the central-north of the state, Equinox Gold operates the so-called “Bahia Complex” — which includes Santa Luz and Fazenda Brasileiro — with a guidance of 125,000 to 145,000 ounces of gold in 2025. The company indicates recovery above 90% in Fazenda and costs aligned with the sector.
The combination of scale in Jacobina and operational ramp-up in the Equinox complex increases the predictability of supply from the state, reduces risks, and attracts supply chains to inland Bahia, with direct effects on employment and income.
Employment, Income, and CFEM: The Multiplicative Effect in the Interior
Besides production, gold mining has a strong fiscal and social impact. For each 1 direct job, 11 indirect jobs are generated in the goods and services chains, according to IBRAM, a parameter adopted by state agencies such as CBPM. This enhances the dynamism of commerce, hospitality, and construction in mining municipalities.
The collection of CFEM (royalties) is also growing and strengthening municipal budgets, with Jacobina being among the largest beneficiaries in the Northeast. These resources support local investments in infrastructure, training, and public services, integrating the sector’s ESG agenda.
With Bahia’s mineral production on the rise, a growth of 31% in the first half of 2025 compared to 2024 — the multiplicative effect is likely to intensify, as long as projects and licensing proceed with legal security and predictability.
Challenges and ESG Agenda: Social License, Traceability, and Climate
The expansion of gold presents challenges: origin traceability, environmental compliance, water management, and emissions. The Mineral Summary from ANM emphasizes the need for control and combating illicit activities, raising the standard of governance and transparency in the chain.
In the ESG field, the industry highlights equipment electrification, energy efficiency, and decarbonization as pathways to reduce impacts and increase productivity. Sector materials released by IBRAM highlight trends and technological goals for the next decade.
Maintaining the social license to operate, with dialogue with communities, environmental monitoring, and tangible local benefits, will be crucial to sustain the gold cycle in Bahia and avoid regulatory bottlenecks.
What do you think about the gold cycle in Bahia being well leveraged? Comment on whether royalties and jobs are reaching your municipality fairly, whether environmental enforcement is sufficient, and what is lacking to transform this mineral wealth into permanent development.
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