According to the Brazilian mining institute (IBRAM), the country’s investments for the expansion of production in the mining industries until 2027 are expected to reach $50.4 billion. Of these, the largest share is for the iron ore mining, reaching $16.9 billion during the period, not including the environmental and logistics investments required for such expansion.
Most of the investments will be made by Vale, for the expansion of production in mines where the iron content of the ores exceeds 67 percent, considered as premium ores.
Such expansions include the Serra Azul and S11-D mines, both in the Carajas region, in the north of the country, and the reactivation of the Capanema mine, in the southeastern state of Minas Gerais.
Iron ore exports are currently responsible for 67 percent of the Brazilian exports of mining products.
Speaking recently during a conference about the results of Vale during the first quarter, the company’s CEO, Eduardo Bartolomeo, unveiled expectations of a stable trend for iron ore prices until the end of the year.