Brazil’s mining industry will receive at least USD 350 billion of investment by 2030 to expand production spending that will more than triple output of iron ore, copper, nickel, alumina and other metals.
The ministry in its National Mining Plan 2030 said that Brazil’s mining industry said that iron ore output will jump 58% by 2015 to 585 million tonne, before rising to 795 million tonne in 2022 and then to about 1,100 million tonne by 2030.
The release of the report comes as the government moves ahead with plans to rewrite the country’s 1968 mining code. The rewrite is aimed at increasing state control and revenue from commodities as world demand and prices rise. Brazil is already a world leader iron ore, bauxite, manganese and alumina production and a top producer of copper and nickel.
The government also seeks to promote greater processing of ores into higher value final products such as steel to increase industrial employment, tax revenue and social development, Brazil’s Energy and Mines Minister Edison Lobao said at an event to release the report. He said that “It’s the people that have the right to benefit from these resources, which are often exported without benefits for the country.”
Legal changes to be proposed by Brazil’s government include changes to an exploration concession system that allows companies to get rights to explore an area for 30 years without requiring the company to produce.
The new legislation, if passed, will give mining companies five-year concessions with minimum exploration requirements renewable for longer periods if efforts are made to put the area into production.
Existing concessions will not be changed, though the government intends to review all mining agreements to make sure their terms are being adhered to and will seek compensation or seek to annul those deals that are not being honoured by their holders, ministry officials said last year.
Brazil also plans to create a national mining council to guide national policy. Much of the planned legislation is similar to Brazilian oil legislation passed over the last decade and a half. That legislation, revised last year to boost state control of offshore resources led to a boom in oil production and the transformation of Brazil from a major importer into a net exporter of petroleum products. Brazilian oil output may make it the world’s third-largest producer after Russia and Saudi Arabia by 2020, according to current world production levels and estimates from the government and state led oil company, Petrobras.
（Sourced from www.im-mining.com）
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