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Brazil mineral output falls, downturn to deepen in Q2 amid coronavirus

16th April 2020

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RIO DE JANEIRO – Brazil's mineral production fell 17% in the first quarter of 2020, compared with a year ago, with the coronavirus outbreak's impacts on the sector expected to deepen in the second quarter, industry group Ibram said on Wednesday.

Mineral output totaled 220.4-million tonnes in the first quarter, according to Ibram, whose members include the world's largest producer of iron-ore Vale.

In addition to coronavirus, Ibram said in a statement that disruptions from heavy rains in Brazil, slowing global economic growth and uncertain financial markets led to the first-quarter decline in production and exports.

Wilson Brumer, head of Ibram's board of directors, told reporters that the impacts of the coronavirus would likely worsen in the second quarter.

"The first quarter wasn't that affected, with the exception of March," Brumer said.

"In April, yes, we're in the eye of the hurricane. So I would say, that if the current situation continues, I think realistically we could have a fall in production."

Mineral exports in the quarter totaled 147-million tonnes, a decline of 17.7% from a year ago, it said.

First-quarter iron-ore exports similarly fell 17% compared with a year ago to 70.3-million tonnes, Ibram said.

Edited by Reuters

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