Data released by IBRAM (the Brazilian mining institute) show that in 2020, Brazil increased the volume of mineral products exported by 2% compared to 2019. The sector’s business in the international market generated 11% more for Brazil in foreign exchange in the comparison, reaching US$ 37 billion. China strengthened its position as the main destination for Brazilian iron ore. The Asian country accounted for 62% of exports in 2019. In 2020, this percentage rose to 72%. After Australia, Brazil is the world’s largest producer of iron ore, which appreciated over 60% during the past year. A ton of iron ore ended the year 2020 at US$ 155.84. Among all mineral products, the largest variations were registered with iron ore and gold. Last year, iron ore production generated revenues of R$ 138.7 billion, 39% higher than 2019. Gold increased 76%, with revenues of R$ 23.2 billion. Despite the high sales, the commercialized mineral production was almost stable. In 2019, 985 million tons were traded and in 2020, a total of 1.009 billion tons were traded.
Sources: Agência Brasil/Datamar News