The Brazilian mining equipment market is expected to increase from $3,827bn in 2010 to $5,802bn in 2015, the BRICdata report said.
Iron ore accounts for 75% of Brazil’s total mining exports and China represents the largest importer, accounting for 45% of Brazilian iron ore exports.
The Brazilian government has announced plans to change the royalty system to encourage more vertical investment, the report said.
With estimated production of 415 million tons of minerals in 2010, the Brazilian mining industry is projected to grow at a CAGR of 12.41% during the forecast period of 2011-2015, to produce 724 million tons of minerals by 2015.
The report indicated that expansion of key end-user markets such as the steel industry, construction, specialty paper, fertilizers, manufacturing and power will continue to generate the demand for minerals until 2015.
The full report, ‘The Brazilian Mining Industry – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2015’ is available from BRICdata. Click here for more details.
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