PRLog (Press Release) – May 07, 2011 – Brazil's mining sector remains relatively undeveloped given the country's size. Despite the abundance of natural resources, total mining revenues currently comprise less than two percent of the country's GDP. However, we believe the industry is beginning to reach its full potential with a major public spending programme augmenting the ambitious expansion programmes of a number of locally-based mining firms including Vale, Rio Tinto and Angloamerican. the National Mining Plan, released in February 2011, aims to double output of key mineral groups including iron ore, gold and copper between 2010 and 2030 with $270bn invested by Brasilia in mining, research and processing over the period. Looking at more immediate developments, we forecast the value of Brazil's mining sector to reach US$90.7bn in 2015, up from US$44.8bn in 2010. An average annual growth of 8.5% is forecast between 2011 and 2015.
Iron Ore Production To Continue To Rise
Brazil's iron ore sector is poised to continue its recent expansion, which has seen the country consolidate its status as the second largest exporter in the world after Australia. Total production is forecast to reach 412mt (million tonnes) in 2011, an increase of 11.4% on volumes in 2010. Much of this growth is expected to have been derived from the expansion plans implemented by Vale, the world's largest iron ore miner, with output at the company's Carajas mine, which is situated in Para state, set to be expanded by 30mt to 130mt in 2011. Looking further ahead we forecast total iron ore output to increase by nearly 58% between 2010 and 2015 when it will reach 583mtpa. Average growth over our 2011-2015 forecast period is expected to be an impressive 9.7% year-on-year (y-o-y).
Regulatory Environment
A new Brazilian mining code seeking to eliminate speculation and force companies to develop projects faster was reportedly close to completion in March 2011, according to the country's Mines and Energy Minister Edison Lobao. The new code is expected to reduce the length of time companies have to complete explorations of mineral deposits in order to stop companies from buying deposits and selling them on after prices rise. The code will have a specific clause regulating uranium mining, which currently can only be mined by state-owned companies. The new code is not expected to discriminate against foreign ownership of mining assets, though it is expected to offer tax incentives to companies that are involved in domestic steel production, rather than producing ores for export and processing abroad.
Key Players
A small number of large multinationals dominate the Brazilian metals and mining industry. Large multinational players operating in the Brazilian mining in rc helicopter market place dustry include: Australia-based BHP Billiton, Brazil's Vale and UK-based Rio Tinto. Vale operates primarily in Brazil, China and Europe. It has operations in 14 Brazilian states and also has a presence across the US, Africa, Asia and Australasia. Other important firms include US-based Jaguar Mining, which explores and extracts gold in the Minas Gerais state. It has operations in four regions: the Sabara region, the Turmalina region, Paciencia and the Santa Barbara regions. Mirabela Nickel is an Australian-owned nickel producer. The company operates one of the world's largest open pit nickel sulphide mines, Santa Rita, located in Bahia state.
For more information or to purchase this report, go
0 komentar:
Posting Komentar