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
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
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
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