Brazil’s mining and metals sector is poised for significant growth, with industry association Ibram projecting a total investment of US$68.4 billion between 2025 and 2029.
This marks an increase from the previous estimate of US$64.2 billion for 2024-2028, highlighting strong momentum in the industry.
BNamericas takes a closer look at some of the most impactful announcements shaping the sector.
Nexa Resources: Strengthening Operations and Exploration
Polymetallic miner Nexa Resources, a subsidiary of the Votorantim group, has unveiled a US$347 million capital expenditure plan for 2025.
The majority of this investment—US$316 million—will go toward sustaining operations, with US$225 million dedicated to mining and the remainder allocated to smelting. The company is focusing on key infrastructure enhancements, including:
Upgrades to the tailings pumping system as part of the Cerro Pasco integration project (Phase I).
Expansion of tailings filtration capacity at Aripuanã, including the installation of a fourth filter.
Expansion of the tailings stockpile area at Aripuanã.
Improvements in the dry stacking method at the Três Marias smelter.
In addition, Nexa is committing US$70 million to exploration efforts aimed at discovering new ore bodies and increasing mineral reserves and resources. “We remain committed to replacing and increasing mineral reserves and resources, advancing exploration to secure long-term growth,” the company stated.
Hochschild Mining: Advancing the Monte do Carmo Gold Project
Hochschild Mining is moving forward with the Monte do Carmo gold project in Tocantins state, which represents a US$250 million investment. The project was acquired last year from Cerrado Gold for US$60 million and is now in the licensing phase.
Tocantins Governor Wanderlei Barbosa has expressed strong support for the initiative, emphasizing its potential to drive regional economic development. “We want this project to create opportunities not just for Monte do Carmo but for all nearby communities,” he said.
The project is expected to have a lifespan of 12 years, positioning it as a major gold production hub in Brazil.
Viridis Mining: Boosting Rare Earths Exploration
Australian exploration company Viridis Mining and Minerals is raising Aus$3.5 million (US$2.2 million) through a private share placement to accelerate development at its Colossus rare earths project in Minas Gerais.
The funds will be directed toward:
A pre-feasibility study.
The next phase of environmental approvals.
Metallurgical test work to refine the extraction process.
Viridis recently submitted environmental impact studies for Colossus to local authorities, marking a key milestone in its path toward production.
ArcelorMittal: Expanding High-Quality Steel Production
ArcelorMittal, Brazil’s largest steel producer, is planning a massive 4 billion reais (US$690 million) investment to enhance its Tubarão unit in Espírito Santo. The project will include the installation of a new rolling line and coating facilities, strengthening its position in high-value markets such as automotive, household appliances, and construction.
Jorge Oliveira, CEO of ArcelorMittal Flat Steel Latin America, underscored the importance of the expansion: “This project will bring our production closer to the demands of end consumers, reinforcing our presence in key markets.”
Engineering and contracting for the project will begin in the first half of 2026, with operations expected to launch by early 2029.
Outlook for Brazil’s Mining and Metals Sector
With billions of dollars flowing into infrastructure, exploration, and production, Brazil’s mining and metals sector is set for a transformative period. From gold and rare earths to steel and polymetallic operations, these investments will not only strengthen the country’s global standing in the industry but also create jobs and drive economic development in key regions.
As companies push forward with ambitious projects, the coming years will be critical in shaping the future of Brazil’s resource-driven economy.
