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The Attraction Of Large Investments In The Mining Sector In Bahia Is Due To The Strong Appreciation Of Iron Ore And The High Dollar
According to the National Mining Agency (ANM), the appreciation of iron ore and the high dollar have been responsible for the increase in revenue for mining companies in Bahia and have also attracted new investments to the state. The state has large mining projects, and with the arrival of new companies, it could become the third-largest iron ore producer in the country. Also check this news: Yamana Mining Announces New Projects For The Extraction And Production Of Gold In The State Of Bahia
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State Experiences Significant Growth And Revenue With Mining Projects
In the first seven months of this year, mining companies reached revenues of R$ 5 billion, compared to R$ 2.9 billion obtained in the same period of 2020, representing a growth of 73% in revenue. Much of this revenue growth is attributed to the entry of BAMIN, which began commercial operations in mining in January of this year and aims to make Bahia the third-largest iron ore producer in Brazil, having reported nearly 900% growth in production in the first half of 2021 compared to the same period in 2020 (ANM).
Eduardo Ledsham, president of the mining company BAMIN, says they are only scratching the surface. Bahia has potential that goes far beyond BAMIN’s mining projects. Currently, the states that produce the most iron ore are Pará, Minas Gerais, and Mato Grosso do Sul.
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Logistics For Iron Ore Flow
The mining company Brazil Iron is also already producing iron ore in Bahia, and two others are in the installation process – Tombador Iron and Colomi Iron – and new areas with potential for iron ore production are being prospected by the Bahia Mineral Research Company (CBPM) and Vale do Paramirim Company.
Antonio Carlos Tramm, president of CBPM, says studies conducted by CBPM show that the central-western region of Bahia, where Caetité is located, is rich in iron ore, uranium, and other minerals. In line with the West-East Integration Railway (FIOL), CBPM is already working to attract more investments for opportunities identified in the region and also in studies of new mineral deposits 100 km from each side of the tracks,” he states.
Bahia State Expected To Receive Large Investments
Brazilian mining is expected to receive investments of US$ 38 billion between 2021 and 2025. The majority is planned to be made in Bahia, which is set to receive investments of US$ 13 billion (35% of the total) across 28 municipalities. This amount corresponds to expected investments by mining companies in 92 different projects spread across the areas of influence of 81 municipalities in several states, according to a survey by the Brazilian Mining Institute (Ibram).
Data from the organization collected from the mining companies operating in the country indicate that, of these 92 projects, 23 are related to the production of bauxite and alumina; 11 to inputs for fertilizers such as phosphate and potassium; nine for copper; nine for zinc; eight for gold; four for nickel; two for iron ore; and 25 for other minerals. In second place in the investment ranking is Minas Gerais, with US$ 11 billion (28%) in 11 municipalities, followed by Pará, with US$ 9 billion (23%) in 13 municipalities; and other states, where investments of US$ 5 billion (14% of the total) are planned across 29 municipalities.
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