Mining revenue declines with the exterior

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The total revenue of the mining sector in Brazil reached R$248.2 billion last year, a drop of 0.7% compared to the previous year, which recorded R$250 billion. This reduction is attributed to the decrease in product prices on the international market, according to information released by the Brazilian Mining Institute (Ibram).

Minas Gerais led in revenue, reaching R$103.6 billion, followed by Pará, with R$85.4 billion. During the first eleven months of 2023, 9,093 new jobs were created in the sector, totaling 210,122 jobs.

The data reveals that exports reached US$43 billion (an increase of 3.1%), with the sale of 392 million tons (+9.5%). Iron ore represented 71% of national exports, with an increase of 10% in exports in tons and 5.7% in dollars, due to the reduction in commodity prices in 2023.

Mining revenue

On the other hand, mineral imports totaled US$11.02 billion, a decrease of 34.2%, despite the 4.7% increase in the 42 million tons imported. Ibram attributes this drop in values ​​to the reduction in the prices of mineral products and exchange rate variation. The most imported product was potassium, accounting for 46% of the total. The total collection of taxes and duties by the sector also showed a reduction of 0.71%, reaching R$85.6 billion.

The president of Ibram, Raul Jungamnn, highlighted that the investment forecast for the period from 2024 to 2028 increased from US$50 billion to US$64.5 billion, an expansion of 28.8%. Jungmann highlighted the importance of these investments given the growing demand for critical minerals on the global stage, used in sectors such as batteries, wind turbines and solar panels.

Selective tax

However, he criticized the creation of the selective tax by the government as part of the tax reform, expressing concern about possible negative impacts on the scale of production. Jungmann pointed out the need for a meeting with the Minister of Finance, Fernando Haddad, to inform about investments in the sector and discuss a national policy for mining, as well as strengthening bodies such as the National Mining Agency (ANM) and the Geological Service of the Brazil (SGB).

Ibram’s Sustainability Director, Julio Nery, noted that investments projected for 2024-2028, estimated at US$64.5 billion, could increase with the reinforcement of research and greater financing mechanisms. He highlighted the importance of a new industrialization program to restore lost competitiveness to national industry.

(With Agência Brasil).

The article is in Portuguese

Tags: Mining revenue declines exterior

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