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)