24/11/08

Brazilian mining will receive an investment of $57 billion from miners, despite the financial crisis, Reuters reports.
Small prospectors are scaling down projects and cutting investments, but major players are cash-rich and are not severely affected by the crisis, according to Paulo Camillo Penna, head of the Brazilian Mining Institute.
Anglo-American secured a loan of $600 million recently to expand a nickel mine in Barro Alto, in the state of Goias. Brazil has 60 to 70 big mining, steel and metal projects in the works with ready finance available, said Paulo Haddad, a World Bank mining consultant.

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