Mining – Minas Gerais Expected to Attract Investments of $12.5 Billion

Written by Roberta Souza

Published on 22/10/2020 at 15:40

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With Strong Economic Performance in the Third Quarter, Mining in Minas Gerais Improved Several Socioeconomic Indicators

Between July and September, the mining sector showed significant improvement in some indicators. Due to these good results, investments in the mining sector in Brazil from 2020 to 2024 increased from US$ 32.5 billion to over US$ 37 billion. The states of Minas Gerais, Bahia, and Pará will be the respective ones with the highest investments.

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The state of Minas has always been the largest mineral producer and the largest taxpayer in the segment, leading in donations and is expected to attract US$ 12.5 billion. Bahia comes in second, with US$ 10.5 billion (28%), and Pará with US$ 8.6 billion (23%).

Investment projects include iron, fertilizers, gold, bauxite, lithium, niobium, quartz, and limestone.

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According to Flávio Ottoni Penido and Wilson Brumer, respectively the CEO and President of the Brazilian Mining Institute, for them, the state of Minas Gerais, even with significant investments, cannot return to being the protagonist in the mineral sector. In recent years, Pará has been ahead in sales, mainly in iron ore.

Wilson Brumer stated that “New mining frontiers are opening up in the country and the competition, in the short and medium term, will remain between Pará and Minas Gerais. But in the longer term, I see Pará with enormous potential to consolidate as Brazil’s main producer.”

Additionally, according to the president of the institution, the investment plan in Minas Gerais includes a tailings dam restoration project. When considering only new businesses or expansions, the total value in the state should reach around US$ 10 billion. He concludes by saying that “the volume is similar to that of Bahia and close to that of Pará. Thus, Minas could regain some representativity, but the country is heading toward having three major mineral producers: Pará, Minas Gerais, and Bahia.”

Mining – Minas Gerais Expected to Attract Investments of $12.5 Billion

With Strong Economic Performance in the Third Quarter, Mining in Minas Gerais Improved Several Socioeconomic Indicators

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