Brazil Iron Ore Mining Market Analysis including Reserves, Production, Production Forecasts, Operating, Developing and Exploration Assets, Key Players and the Fiscal Regime including Taxes and Royalties, 2020-2025

Pages: 39 Published: July 05, 2021 Report Code: GDMMIO032MR

  • Overview
  • Key Players
  • Contents
  • Tables
  • Figures
  • FAQ
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Brazil is home to the world’s second largest iron ore reserves, after Australia. Brazil’s iron ore production stood at an estimated 400Mt in 2020, down by 1.2% over 2019, mainly due to lower output from the country’s largest producer, Vale SA. Therefore, over the forecast period the country’s production is expected to grow at a compound average growth rate (CAGR) of more than 7%, backed by the start of a number of new mines.

As of February 2021, Brazil had 34 billion tonnes (Bnt) of crude ore reserves, of which 15Bnt was iron content, according to the US Geological Survey (USGS). Brazilian iron ore reserves are predominantly located in the states of Minas Gerais and Para. Brazil’s largest producer, Vale, operates through different systems, referred to as the Northern, Southeastern and Southern systems. In addition to Vale SA, Companhia Siderurgica Nacional (CSN) and Anglo-American plc are major producers in the country.

The Serrote Da Laje Project and Bamin Project are the two major upcoming projects, which were being expected to be operational from 2021. Around 85% of the country’s iron ore production is exported. China is the country’s largest export partner followed by Malaysia, Japan and the Netherlands.

Brazil iron ore mining market overview

Brazil iron ore mining market overview

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What are the Brazil iron ore mining market dynamics?

Demand from the Chinese steel industry is one the key demand drivers of Brazil’s iron ore mining industry. China is the world’s largest steel producer, with output of 1,053Mt crude steel in 2020. Chinese crude steel production grew in 2020, spurred by government support for the housing, infrastructure and manufacturing industries. China is Brazil’s largest export partner and accounted for over 70% of total iron ore exports in 2020. According to the China’s 14 Five-Year Plan (2021-2025), the country aims to increase the annual domestic scrap supply to 300Mt by 2025, up from 240Mt in 2019.

Another key demand driver includes the demand from Chinese construction industry. Construction is a key end-use market for iron ore, with China as the largest market, accounting for 32% of the global construction market. Beijing, Shanghai, Jiangsu, Hubei and Guangdong contribute an estimated 35% of the country’s total construction output by value and increasing numbers of construction and infrastructure projects have been driving demand for iron ore in China.

What is the categorization of Brazilian iron ore assets?

Brazil iron ore mines are categorized into active mines, development projects and exploration projects further categorized according to their mining methods and stages along with additional information as total resources, equity owners etc.

Serra Norte Mining Complex is the active mine with the highest annual saleable production of more than 100Mt. Pau de Vinho Iron Project is the exploration project with the highest total resources while Planalto Piaui Project is the development project with the highest total reserves.

Who are the major players in the Brazilian iron ore mining market?

Vale SA, Companhia Siderurgica Nacional (CSN) and Anglo-American plc are the top three iron ore producers in Brazil. Vale SA is a Brazil-based metals and mining company, and the world’s second-largest iron ore producer behind Rio Tinto. Besides iron ore, the company also produces and exports nickel, copper, manganese ore, ferroalloys, metallurgical and thermal coal, cobalt, platinum-group metals (PGMs) and other precious metals such as gold and silver.

Companhia Siderurgica Nacional (CSN) is an integrated steel producer in Brazil. The company provides flat steel, long steel, cold-rolled products, hot-rolled products, light-gauge hot-rolled coils and sheets and galvanized products.

Anglo American plc (Anglo American) is a diversified mining company. The company explores, plans, builds, mines, processes, transports and markets a range of products, including bulk commodities, base metals, precious metals and minerals.

Brazil iron ore mining market, by key companies

Brazil iron ore mining market, by key companies

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Market report scope

Market Volume (Year – 2020) 400Mt
Growth rate CAGR of >7% from 2021 to 2025
Base year for estimation 2020
Asset categories Active Mines, Development Projects and Exploration Projects
Forecast period 20212025
Key companies Vale SA, Companhia Siderurgica Nacional (CSN) and Anglo-American plc

The report also provides detailed information on reserves, production, major operating mines, major exploration and development projects, competitive landscape, consumption, and exports.

Reasons to Buy

  • Comprehensive evaluation of the impact of the COVID-19 on Brazil’s iron ore mining
  • To understand historical and forecast trend on Brazil’s iron ore production and exports
  • To track latest company developments
  • To understand the country’s exports to various countries including China, which is the largest destination
  • To gain an understanding on iron ore prices
  • To understand about major active, development and exploration iron ore projects in the country
  • To understand about the demand from Chinese steel and construction industry
  • To identify about the country’s regulatory framework that governs the mining industry

Key Players

Vale SA, Companhia Siderurgica Nacional (CSN), Anglo American Plc

Table of Contents

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| Table of Contents

List of Figures

List of Tables

1 Executive Summary

2 Reserves, Production and Prices

2.1 Iron Ore Reserves

2.2 Iron Ore Production

2.3 Production by Company

2.4 Iron Ore Prices

3 Iron Ore Assets

3.1 Active Mines

3.2 Exploration Projects

3.3 Development Projects

4 Key Demand Drivers

4.1 Demand from the Chinese Steel Industry

4.2 Demand from Chinese Construction Industry

5 Iron Ore Exports

6 Major Iron Ore Producers

6.1 Mines and Projects by Company

6.2 Company Profiles

 Vale SA

 Companhia Siderurgica Nacional (CSN)

 Anglo American plc

7 Fiscal Regime

7.1 Governing Bodies

 Ministry of Mines and Energy (MME)

 National Mining Agency (ANM)

 Geological Survey of Brazil (CPRM)

 Ministry of Science, Technology, Innovations and Communications (MCTIC)

 National Nuclear Energy Commission (CNEN)

 Industrias Nucleares do Brasil SA (INB)

7.2 Mining Laws and Codes

 Law No. 4,118

 Mining Codes

7.3 Mining Licensing, Rights, and Obligations

 Exploration License

 Extraction License

 Rights

 Obligations

7.4 Taxes and Payments

 Corporate Income Tax (CIT)

 Individual Tax

 Capital Gain Tax

 Withholding Tax

 Value Added Tax (VAT)

 Royalties

8 Appendix

8.1 Abbreviations

8.2 Methodology

8.3 Coverage

8.4 Secondary Research

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List of Tables

Table 1: Brazil Iron Ore Mining – Top Active Mines in Brazil by Total Reserves (Million Tonnes)

Table 2: Brazil Iron Ore Mining – Vale SA Iron Ore Production by System, 2019-2020

Table 3: Brazil Iron Ore Mining – Vale SA Capacity Resumption Plan For 2021

Table 4: Brazil Iron Ore Mining – Historical and Forecast Brazil Iron Ore Production (Million Tonnes), 2005–2025

Table 5: Brazil Iron Ore Mining – Iron Ore Production by Company (Million Tonnes), 2019–2021

Table 6: Brazil Iron Ore Mining – Iron Ore Prices Quarterly (US$/Tonne), Q1 2015–Q1 2021

Table 7: Brazil Iron Ore Mining – Active Mines, 2021

Table 8: Brazil Iron Ore Mining – Exploration Projects, 2021

Table 9: Brazil Iron Ore Mining – Development Projects, 2021

Table 10: Brazil Iron Ore Mining – Historical and Forecast Iron Ore Exports (Million Tonnes), 2005–2025

Table 11: Brazil Iron Ore Mining – Number of Operating, Development and Exploration Projects by Company and Stage, 2021

Table 12: Brazil Iron Ore Mining – Vale SA, Major Projects, 2021

Table 13: Brazil Iron Ore Mining – Companhia Siderurgica Nacional (CSN), Major Projects, 2021

Table 14: Brazil Iron Ore Mining – Anglo American plc., Major Projects, 2021

Table 15: Brazil’s Mining Fiscal Regime – Corporate Income Tax (CIT), 2021

Table 16: Brazil’s Mining Fiscal Regime – Individual Tax (%), 2021

Table 17: Brazil’s Mining Fiscal Regime – Capital Gain Tax (%), 2021

Table 18: Brazil’s Mining Fiscal Regime – Withholding Tax (%), 2021

Table 19: Brazil’s Mining Fiscal Regime – Value Added Tax (VAT) (%), 2021

List of Figures

Figure 1: Brazil Iron Ore Mining – Share of Iron Ore Reserves by Country (%), as of February 2021

Figure 2: Brazil Iron Ore Mining – Brazil Iron Ore Reserves and Fe-content (Billion Tonnes), 2017–2021

Figure 3: Brazil Iron Ore Mining – Historical and Forecast Brazil Iron Ore Production (Million Tonnes), 2005–2025

Figure 4: Brazil Iron Ore Mining – Iron Ore Production by Company (Million Tonnes), 2019–2020

Figure 5: Brazil Iron Ore Mining – Iron Ore Prices, Quarterly (US$/Tonnes), Q1 2015–Q1 2021

Figure 6: Brazil Iron Ore Mining – China Steel Production (Million Tonnes), 2010–2025

Figure 7: Brazil Iron Ore Mining – China Construction Output Value (US$ Billion), 2010–2025

Figure 8: Brazil Iron Ore Mining – Iron Ore Exports by Country (%), 2020

Figure 9: Brazil Iron Ore Mining – Historical and Forecast Iron Ore Exports (Million Tonnes) 2005–2025

Figure 10: Brazil Iron Ore Mining – Number of Operating, Development and Exploration Projects by Company and Stage, 2021

Frequently Asked Questions

Brazil iron ore mining market was estimated at 400Mt in 2020.

 

Brazil iron ore mining market is expected to grow at a compound annual growth rate of more than 7% from 2021 to 2025.

Brazil’s iron ore mines are categorized into active mines, development projects and exploration projects.

Vale SA was the leading mining company in 2020, followed by Companhia Siderurgica Nacional (CSN) and Anglo-American plc.

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