Brazil's iron ore production to rebound and surpass pre-COVID-19 levels by 2022
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With the production of an estimated 400Mt in 2020, Brazil is the world’s second-largest iron ore producer, after Australia. Brazil’s iron ore production fell by an estimated 1.2% in 2020, due to lower output from the country’s largest producer, Vale SA, which accounted for about 75% of the country’s total production
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Brazil’s iron ore production is expected to grow at a CAGR of 7.6% over the forecast period, to reach 560.4Mt by 2025, mostly due to the resumption of Vale’s capacities that were halted due to tailings dam restrictions
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New projects expected to support the country’s iron ore production growth over the period include the Bamin Project and Serrote Da Laje Project, which will add a combined capacity of 22.6Mt; both are expected to begin operations in 2021
Brazil's iron ore production to rebound and surpass pre-COVID-19 levels by 2022
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