Brazilian mining sector to invest $20.2 billion by 2022

Wednesday, 27 March 2019 22:01:41 (GMT+3)   |   Sao Paulo

The Brazilian mining sector should invest a combined BRL 80 billion ($20.2 billion) by 2022, an official estimated.

Brazilian minister of mines and energy (MME), Bento Albuquerque, said the estimated BRL 80 billion investment figure is part of a massive investment of BRL 1.8 trillion ($455.5 billion) by the local energy sector in the next 10 years.

The mining investment forecast, however, was expected for a shorter period, ending in 2022. The minister made his remarks during an event in which he signed contracts for new transmission lines in Brazil.

USD = BRL 3.95 (March 27)

Most Recent Related Articles

Usiminas-owned MUSA considers investments

Brazil to facilitate environmental licenses for mining projects

Vale mine dam certificate void under new regulations

Vale's Itabiruçu dam not operational until 2021 at the earliest

Vale unveils production estimates for S11D mine