OUTLOOK: With new projects, Brazilian mining should resume growth

Not like 2021, when the worth of Brazilian Mineral Manufacturing reached a file worth of R$ 339.1 billion (about US$ 63 billion), in 2022 the worth of the PMB, in accordance with estimates based mostly on the gathering of the CFEM (Monetary Contribution for Mineral Exploration), was roughly R$250 billion (about US$48 billion).

In different phrases, there was a drop of round 26% in relation to the earlier yr, which is principally defined by the lower cost obtained by mineral commodities available on the market, significantly iron ore, which leads Brazilian mineral manufacturing, having recorded a worth of BRL 153.5 billion in 2022, or greater than 61% of the entire PMB. This means that, regardless of the diversification of mineral manufacturing, Brazil stays closely depending on iron ore to spice up its mineral trade. The opposite mineral items that had probably the most important participation within the PMB in 2022 have been: gold (R$ 23.9 billion), copper (R$ 15.2 billion), dolomitic limestone (R$ 8.55 billion) and bauxite (R$ 5.66 billion).

In geographical phrases, opposite to the earlier yr, in 2022 the state of Minas Gerais was the chief within the worth of mineral manufacturing, with R$ 100.5 billion, whereas Pará, which had led the manufacturing within the earlier yr, positioned in second place, with R$ 92.3 billion. The record of the 5 largest producing states additionally consists of Bahia (with R$ 10.1 billion), Goiás (R$ 9.04 billion) and São Paulo (R$ 7.8 billion).

Because of the discount within the worth of mineral manufacturing, the gathering of CFEM (Monetary Contribution for Mineral Exploration) additionally decreased, reaching R$ 7.018 billion in 2022, towards R$ 10.3 billion in 2021, with a drop of simply over 30 %. The Pará municipalities of Parauapebas (R$ 1.385 billion) and Canaã dos Carajás (R$ 1.060 billion) led the gathering, adopted by the Minas Gerais municipalities of Conceição do Mato Dentro (R$ 391.8 million), Itabirito (R$ 317.6 million) million) and Mariana (R$299.0 million).