News

02/05/24

The result was R$68 billion, 25% higher than in the 1st quarter of 2023. Exports increase and the mineral trade balance is equivalent to 47% of the Brazilian trade balance. This is what sector research from the Brazilian Mining Institute (IBRAM) reveals, released this Thursday (2/5).

After 2023 recorded a small drop in revenue compared to the previous year, the 1st quarter of 2024 (1Q24) brought more positive results to the mining industry. Compared to 1Q23, revenue grew 25%, from R$54.6 billion to R$68 billion, with iron ore accounting for 64.2% of the total (R$43.9 billion). Ore exports grew 18.3% in dollars and 11.3% in tons and imports declined 31% in dollars. The collection of taxes and charges on minerals grew by around 24% (R$ 23.3 billion). And in terms of jobs, the mining industry closed March with more than 214 thousand direct jobs, with the creation of almost 4 thousand new vacancies from November 2023 to March this year.

The data was collected by the Brazilian Mining Institute (IBRAM) and released by the CEO, Raul Jungmann, this Thursday (2/5). “Despite the many obstacles to competitiveness, predictability and legal certainty, the mining industry responds with increasingly surprising results. This is data that turns into socioeconomic benefits for Brazilians. An example of a positive reflection of mining for Brazil is the balance of mineral trade (difference between exports and imports) in 1Q24, which was US$ 8.9 billion, 41% more than in 1Q23 (US$ 6 .32 billion). This means that the mineral balance is equivalent to 47% of the Brazilian trade balance in 1Q24. “It was the sector that contributed most to the Brazilian trade balance reaching US$ 19.08 billion in the first quarter of the year”, says Raul Jungmann.

Coletiva realizada pelo IBRAM para apresentar dados do 1º trimestre de 2024 – crédito; divulgação

Click here and access the data in the Portuguese version.