According to a new report from the Business Monitor, the boom years are over for the Brazilian mining industry, and slower growth will be seen as compared to previous years. However, the report points out, a relatively small mining sector and large untapped reserves, as well as Chinese demand for iron ore, will definitely allow for growth to continue.
Iron ore will continue to drive sector investment, the report stated, though base metals and gold will also receive interest. Brazil will continue to compete with Australia for China’s iron ore business. The market for Bauxite and nickel production will grow, but at a slower pace, as there continue to be high surpluses for aluminum and refined nickel. The growth of the gold market, in the short term at least, is likely to be the slowest, with gold prices expected to continue to decrease through 2015.
You can purchase the full copy of the Brazil Mining Report from Business Monitor.
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Image credit: Mining Technology