Brazil Ore Sales Increase by 25% in the First Quarter

The Brazilian mineral sector reported robust performance in the first quarter of this year, with sales soaring to R$68 billion, marking a substantial 25% surge compared to the corresponding period in 2023. This data was disclosed by the Brazilian Mining Industry (Ibram), representing key industry players such as Vale, Gerdau, ArcelorMittal, and Mosaic.

Exports during the period totaled 87.5 million tonnes, reflecting an 11.3% increase from January to March 2024. Revenue generated from these shipments amounted to R$10.9 billion, marking an impressive 18.3% surge compared to the same quarter last year.

Iron ore exports accounted for the lion’s share of total exports, reaching 84.1 million tons, representing an 11.9% increase compared to the previous year.

Furthermore, the collection of royalties on minerals, known as CFEM (Financial Compensation for the Exploration of Mining Resources), witnessed a substantial uptick, soaring to R$1.930 billion in the first quarter of 2024, marking a notable 29.8% increase compared to the corresponding period.

Source: Monitor Mercantil

Click here to read the original news article: https://monitormercantil.com.br/vendas-de-minerio-tem-alta-de-25-no-primeiro-trimestre/

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