“We believe there is no room for fear regarding Brazilian iron ore exports”
Brazilian Secretary of Geology, Mining and Mineral Transformation, Alexandre Vidigal
“We are seeing a recovery scenario that is already quite favorable for the Brazilian market,” Brazilian Secretary of Geology, Mining and Mineral Transformation, Alexandre Vidigal, told MINING.COM.
In Q2 2020, Brazilian mining companies reached a production value of R$39 billion ($7.5 billion), an increase of 9% over Q1.
Brazil’s iron ore exports – which represent 59% of the country’s mineral production – totaled $5 billion in Q2, 6% higher than Q1 2020, but 5% lower than in Q2 2019. The country exported 76 million tonnes, 8% above the total registered in Q1 2020, but 3% lower than Q2 2019.
Brazilian mining giant Vale has been returning to its pre-pandemic level operations as exports have hit 33.4 million tonnes in July, up nearly 60% from May.
“These are facts that signal a tendency for the sector to recover, reinforcing our understanding that the mineral industry may play a prominent role in the country’s economic recovery,” said Vidigal.
Industry group IBRAM projects that the country will export 310 million tonnes in 2020, lower than the 340 million tonnes exported in 2019.
“In 2020, besides the pandemic, intense rains at the beginning of the year and operational adjustments of mining companies to meet resolutions involving dams hit the production,” said Cinthia de Paiva Rodrigues, research and development manager at IBRAM.
