The key developments in Brazil's mining and metals sectors

One of the most important announcements for Brazil’s mining and metals sector over the last few days was mining association Ibram's estimate of sector investments.

Ibram estimates that US$68.4bn will be invested in 2025-29, up from US$64.2bn in 2024-28.

BNamericas provides an overview of other relevant announcements related to mining and metals.

Nexa

Nexa Resources, a Brazilian polymetallic miner with operations in Peru and which is part of the Votorantim group, presented its 2025 capex plan, involving US$347mn.

Of the total, US$316mn will be used for sustaining investments, with mining accounting for US$225mn and the rest for smelting.

"Sustaining investments are projected to increase by 21% compared to 2024 guidance, primarily related to the tailings pumping system, which is the central element of Phase I of the Cerro Pasco integration project, the expansion of tailings filter capacity at Aripuanã, including the acquisition and installation of a fourth filter, the expansion of the tailings stockpile area at Aripuanã, and the improvement of the dry stacking method at the Três Marias smelter," the company said in a statement.

The company will invest US$70mn in exploration.

"As part of our long-term strategy, we remain committed to replacing and increasing mineral reserves and resources. In line with this, we plan to advance exploration efforts focused on identifying new ore bodies and upgrading resource classifications through infill drilling campaigns," the firm said.

Hochschild Mining

Executives of Hochschild Mining and officials of Tocantins state discussed the planned US$250mn Monte do Carmo gold project at a meeting. The firm acquired the project last year from Cerrado Gold for US$60mn.

Monte do Carmo is set to receive the largest chunk of investment by the company in Brazil, which also invests in Mara Rosa in Goiás.

"I am very pleased to be able to help in the initial implementation of this exploration project. The government of Tocantins is available to help promote the wealth and development of Monte do Carmo, and what we want is for this development process to reach all nearby localities," governor Wanderlei Barbosa said in a statement.

The operation, still in the licensing phase, is expected to have a useful life of 12 years.

Viridis Mining

Australian exploration company Viridis Mining and Minerals plans to raise Aus$3.5mn (US$2.2mn) via a private placement of shares for its Colossus rare earths project in Minas Gerais state.

"Funds will be used to accelerate work on the Colossus project critical path, including the pre-feasibility study, the next phase of environmental approvals, and metallurgical test work to optimize the flowsheet," the firm said in a statement.

The company recently submitted environmental impact studies for its Colossus project to local authorities.

ArcelorMittal

Brazil’s largest steel producer, ArcelorMittal plans to invest up to 4bn reais (US$690mn) in a new rolling line and coating at its Tubarão unit in Espírito Santo.

Focusing on the production of high-quality steel, the cold strip mill will be responsible for producing cold-rolled products from the hot coils already produced at Tubarão.

"The Tubarão unit project... will strengthen our presence in high-value markets, such as the automotive, household appliances, and construction sectors, while also bringing our production closer to the demands of the end consumer," Jorge Oliveira, CEO of ArcelorMittal Flat Steel Latin America, said in a statement.

The engineering and contracting phases will start in 1H26 and operations in the first half of 2029.