Iron Ore Reserves in Brazil Market Report
The report titled “Iron Ore Mining in Brazil to 2021-Production Remains Buoyant Supported
by New Projects”, provides a comprehensive analysis of iron ore extraction, brazil iron ore
mining procedures, leading players in mining sector, growth in Brazilian mining market, and
future of iron ore mining in Brazil.
Industry Overview: Processed metallic iron is extracted from rocks and minerals known as
iron ore. Almost all the extracted ores are typically high in iron oxides and vary in colour.
Iron is found in forms such as magnetite (Fe304), hematite (Fe203), goethite (FeO(OH)),
limonite (FeO(OH).n(H20)), or siderite (FeC03). 98 percent of the iron ore mined or
extracted is used in the manufacture of steel. There are various methods used in mining based
on the type of ore. There are four types of ore deposits such as magnetite, titanomagnetite,
massive hematite, and pisolitic ironstone deposits. Pig iron is a necessary raw material in
making steel. The global demand for minerals is driving the growth of the iron ore market in
Brazil. The country is rich in mineral ores and is the chief exporter of minerals. The
increasing growth of the global automobile industry is creating a huge demand for various
products thereby witnessing a continuing growth in the Brazilian mining industry. Iron ore is
majorly used for steel production in Brazil.
In Brazil, there is a difficulty in procuring licenses for iron ore mining. Therefore, it is
expected to discourage the growth in this sector. The country has a very complex regulatory
framework for the mining sector. All the approval processes and jurisdiction is divided
among the federal, state, and municipal governments. All the licenses in Brazil are
renewed on the basis of the final exploration report. It was observed that there is a huge
demand for steel in the construction sector and the aggregates are used for paving roads.
Minas Gerais, Sao Paulo, Rio de Janeiro, and Parana are the major regions in Brazil