According to the Brazilian mining institute, IBRAM, the mining sector of the country will receive investments estimated at $68.4 billion between 2025 and 2029.
Based on projects already announced by the private and public sectors, the volume is 6.6 percent higher than the previous estimates, $64.5 billion between 2024 and 2028.
Iron ore projects are the top destination of the investments, $19.6 billion, equivalent to 28.7 percent of the total, covering 24 projects located in all regions of Brazil.
Other destinations of the mining related investments are social / environmental projects (17 percent), logistics (16 percent), copper (11 percent), fertilizers (8 percent), nickel (6 percent), gold (3.1 percent), and bauxite (1.9 percent).
A stake of 9 percent covers different items such as allowing elements, rare earths, and other substances.
The iron ore investments will be destined mainly to the states of Minas Gerais ($16.500billion), Pará (13.490 billion), Bahia (8.990 billion), Ceará (5.450 billion), and Amazonas ($2.600 billion).