Mining Growth in Brazil and Opportunities for the Coming Years
Mining has been a cornerstone of Brazil’s economic and territorial development since colonial times. The industry began in the late 17th century with the gold rush in Minas Gerais, which attracted settlers, fueled infrastructure development, and established Brazil as a significant mineral producer. Over the centuries, the sector expanded to include iron ore, gemstones, bauxite, and other key minerals, playing a central role in shaping the country's industrial base and trade relations.
Historically, Brazil has ranked among the world’s top mineral producers, especially in iron ore, where it is second only to Australia. In 2022, Brazil produced approximately 370 million tons of iron ore. The country is also a key global player in the production of several other essential minerals, including:
- Bauxite – used in aluminum production
- Nickel – critical for stainless steel and batteries
- Copper – widely used in electrical wiring and infrastructure
- Niobium – Brazil holds over 90% of known global reserves
- Lithium – increasingly important for battery technologies
- Gold – both industrial and financial applications
- Tin, manganese, and kaolin – among other important industrial minerals
Brazil’s mining sector is experiencing a period of growth and transformation. According to the Brazilian Mining Institute (IBRAM), the industry’s revenue reached BRL 250 billion in 2023, and forecasts suggest it will exceed BRL 300 billion by 2027. This growth is being driven by investments in technology, sustainability, and new projects across strategic regions of the country.
The most actively mined states include Minas Gerais, Pará, Goiás, and Bahia. Minas Gerais remains a leader in iron ore and gold production, while Pará has become a hub for large-scale copper and bauxite projects and is expected to receive significant investments in critical minerals in the coming years.
Global demand for strategic minerals such as lithium, graphite, and rare earth elements has surged in recent years, driven by the global energy transition and the digitalization of economies. With its vast geological diversity, Brazil is poised to play a major role in meeting this demand.
Key regions expected to gain prominence include the Jequitinhonha Valley (MG), home to important lithium reserves; northern Bahia, with potential for rare earths exploration; and southern Pará, which continues to attract major copper and nickel projects.
As Brazil’s regulatory environment evolves and ESG (Environmental, Social, and Governance) practices become increasingly critical, both domestic and international companies are seeking capable local partners who can deliver technical, innovative, and sustainable solutions.
+NR is strongly positioned to support this new wave of growth in Brazilian mining.
With an experienced team and an active presence in the country’s main mining regions, we operate across the entire project lifecycle, from conceptual studies to full plant implementation, always focused on efficiency, sustainability, and value generation.
If your company is seeking technical or strategic support to develop or expand mining projects in Brazil, talk to us. We’re ready to grow alongside the sector.