PUBLICATION

Global Business Reports

AUTHORS

Aya Turk, Eneko Johnson

Brazil Mining 2024

November 21, 2024

Brazil’s mining sector has roared to life in 2024. This year, the country was in the international spotlight, hosting the G20 summit in Rio de Janeiro and preparing to host the COP 30 in 2025. Mining production in the country is becoming increasingly diversified; the engine remains iron ore, but there is an ever-growing number of projects across a suite of minerals, including gold and critical minerals from rare earths to lithium. Key developments took place in 2024: Vale announced the entry of a new leadership team, with Gustavo Pimenta, formerly CFO, now taking charge as CEO. In critical minerals, developments included Pilbara Minerals’ proposed acquisition of Latin Resources, and Sigma Lithium receiving a R$487 million binding commitment from the BNDES for a 16-year loan to double production. Most notably, the B3, Brazil’s stock exchange, and the Toronto Stock Exchange (TSX) have announced a strategic partnership to boost the number of mining companies listed in Brazil and direct much-needed capital to the sector. The Brazil Mining 2024 report delves into these and other topics, providing a comprehensive guide to mining in Brazil and exploring the most topical issues with mining and industry executives across the country and the sector’s value chain.

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