Brazil is the world’s 5th largest country, and Latin America’s largest country. Brazil includes 26 states plus a Federal District. Mineral production in the country contributed an estimated US$43.7B of gross value to Brazilian GDP in 2020. With rich mineral resources, Brazil is a leading mineral exporter.
Brazil produces 72 different mineral substances due to its diversified geological formations. It exports Niobium, Iron Ore Vermiculite, Graphite, Bauxite, Kaolin, Nickel, Tin, Magnesite, Manganese, Chrome, Gold and Ornamental Stones. The country is one of the world’s top producers of iron ore, lithium, tin and nickel, and hosts over 3,000 mines.
Gold in Brazil has a long history stretching as far back as the 1700s, when a gold rush in the then-Portuguese colony opened the country up to the major gold-producing region of Ouro Preto — Portuguese for “black gold.”
Brazil has recently made changes to its decades-old mining laws, aimed at making the local industry more competitive and sustainable. In 2022, Brazil ranked in the 25th spot (out of 62) in the Fraser Institute Annual Survey of Mining Companies, up from the 51st spot (out of 84) for 2021. Since 2018, regulatory changes have created more transparency in the sector, including the creation of a single-system registry of mineral resources.
Pará, Minas Gerais and Bahia are the states with the most mining activity. Pará state hosts many of the minerals and is the second largest producer of Iron Ore, Brazil’s dominant mineral production.