Mining Investments in Brazil to Reach US$ 47 Billion By 2013

Arcelor Mittal in Brazil The mining industry in Brazil should receive US$ 47 billion in investment in the period covering 2009 to 2013, according to figures from Brazil's National Department of Mineral Production, connected to the Brazilian Ministry of Mines and Energy.

The figures are based on a study with the mining companies says the Director General of the Department, Miguel Cedraz Nery, .

Brazil has 7,000 mines where iron, gold, diamonds, copper, zinc, niobium, aluminum, magnesite and chrome, among others are extracted. The most prominent states in the sector are Minas Gerais, Pará, Bahia, Goiás, São Paulo and Santa Catarina.

However, according to information disclosed by the Ministry, all regions in the country have mines to be explored.

The global financial crisis had an impact on the sector, according to Nery, but it has already expanded its rhythm of growth. The research requests in the area, for example, reached 1,229 in September.

The sector had a leap in investment in mineral research from US$ 70 million in 2000 to US$ 482 million in 2009. Of this total, US$ 346 million were for prospecting new mines. The remaining funds went to new evaluation of mines in operation.

Brazil occupies the second position in the global exploration of iron and the first in niobium, material used in the weapons and aviation industries.

The mining sector in Brazil has significant participation of foreign capital. Multinationals like Anglo American and Arcelor Mittal operate in the country. Vale, however, a Brazilian company is one of the great players in the sector.

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