The Brazilian mining institute, IBRAM, unveiled expectations of investments reaching $64.46 billion in the country’s mining industry until 2028, representing a 28.82 percent increase from the previous study, that covered the period of 2023 to 2027.
Raul Jungmann, president of IBRAM, mentioned that the study, developed by the institute, was based on the balance sheets of the mining companies.
He added that the increase of investments will be achieved despite the reduction of similar investments in other world regions, resulting from reduced mining commodities prices and increased mining production costs.
According to the study, iron ore mining will receive the largest share of the investments, reaching $17.28 billion until 2028, representing 26.8 percent of the total and an increase of 2.1 percent from the previous study.
The second largest share of the Investments, $10.67 billion, will be destined to social and environmental projects, followed by logistics ($10.36 billion), copper ($6.74 billion), fertilizers ($5.58 billion), bauxite ($1.82 billion), gold ($1.54 billion), rare earths ($1.46 billion), titanium ($600 million) and zinc ($59 million).