Brazil mining revenues up 36% in 2020 on iron ore performance, Ibram says

Mining revenues soared in Brazil during 2020 despite the Covid-19 pandemic, led mainly by higher iron ore prices and an increase in total production, Brazilian mining institute lbram said on Tuesday February 2.

Revenues totaled 209 billion Reais ($38.7 billion) for the mining industry last year, up by 36% from 153 billion Reais in 2019, lbram reported. Iron ore contributed the most to that number, with 138.7 billion Reais, 39.3% more than 99.6 billion Reais in the previous year.
In the fourth quarter alone, revenues in the Brazilian mining sector amounted to 83 billion Reais, up by 63.6% from 50.7 billion Reais in the third quarter, according to the association.

“We were, of course, not immune to the Covid-19 pandemic, but the mining sector invested around 1 billion Reais in safety and testing at its units to deal with it, and learned a lot about how to continue...

Published

Renato Rostás

February 03, 2021

19:33 GMT

São Paulo