Brazilian mineral production fell 12% in 2022 compared to the previous year, to 1.05 billion tons, mainly due to the decline in demand from China, said this Tuesday (7) the director-president of the Brazilian Institute of Mining (Ibram), Raul Jungmann.
The total revenue of the country’s mining industry, in turn, fell 26% last year, to R$ 250 billion.
Among the reasons for the drop, according to Jungmann, are the isolation measures against Covid-19 in China, which reduced steel production, and the control of iron ore stocks in Chinese ports. Both influenced the reduction of iron ore prices by around 25%, he says.
The CEO highlighted, however, that the sector should invest around US$ 50.4 billion in the country between 2023 and 2027, above the US$ 40.4 billion in the previous five-year period 2022-2026.
Of the total amount, socio-environmental investments add up to US$6.5 billion by 2027, compared to US$4.2 billion in the previous period.
Source: CNN Brasil
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