RIO DE JANEIRO – Brazil's mineral exports are expected to rise 2.5% in 2018 compared with the previous year to 410-million tonnes, as investment in the sector is projected to grow, industry group Ibram said on Friday.
By value, mineral exports are expected to increase to $30-billion from $28.37-billion last year, Ibram said in an email to Reuters.
While iron-ore exports were stable in the first six months of the year, copper exports rose 4% and gold exports rose 40% compared to the prior period, according to Ibram, which represents major miners including Vale SA.
Ibram raised its investment forecast for 2018 to 2022 to $19.5-billion from $18-billion for 2017 to 2021.
The next five-year projection should rise even higher as Brazil overhauls mining sector regulations in a bid to attract investment to the country, Ibram said.