Wed, 19 Oct2011
BNamericas citing Mr Mathias Heider mineral resources specialist from the minerals production department as saying that Brazil iron ore exports are expected to total BRL 40 billion in 2011
He said "There's an upward trend showing that Brazilian mining in general is going through its best moment ever, adding that the country mineral production value should reach BRL 53 billion to BRL 55 billion in 2011.
He added that Royalties collected by DNPM in January to September totalled a record BRL 1.08 billion. In all of 2010, royalty collections were BRL 1.04 billion."
Royalties collected in September totalled BRL 143 million up by 17.2%YoY. According to national mining association Ibram iron ore exports for the full year are expected to increase by around 12.5% to 350Mt.
Brazil annual iron ore output is expected to more than double from the current 370Mt to 787Mt by 2015.
The projected expansion in iron ore production takes into consideration announced investments of USD 45 billion for the 2011-15 periods. Overall investments in the mining sector are expected to total USD 68.5 billion.
(sourced from BNamericas)
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