Mining accounts for 47% of Brazil’s trade balance, draws Canadian companies, and is expected to generate billions in investments by 2029
By Pedro Augusto
Mining remains one of the pillars of the Brazilian economy. In 2024, the sector recorded revenues of BRL 270.8 billion, with exports totaling USD 43.4 billion – nearly half of the country’s trade balance. The activity is present in around 2,800 municipalities and involves the extraction of more than 90 mineral substances, according to the National Mining Agency (ANM). Brazil’s soil is so rich that it has attracted Canadian companies in the sector to the country in search of business opportunities.
Kinross, for example, is one of the largest gold producers operating in Brazil. Sigma Lithium explores lithium in the Jequitinhonha Valley (MG). Lundin Mining invests in copper production, while Largo is a global reference in vanadium extracted in Bahia.
According to Arminio Calonga, Business Consultant at the Chamber of Commerce Brazil-Canada (CCBC), the country’s potential to attract investments is far from exhausted. “Brazil has a large concentration of strategic minerals for the energy transition, such as rare earths, graphite, nickel, and lithium,” he explained. “The real opportunity lies in developing the production chain here, turning all this raw material into industrialized products and technology,” he added.
Despite the wide mineral diversity in Brazil, production is still highly concentrated in a few companies. A study published by Brasil Mineral magazine shows that the 200 largest mining companies account for more than 86% of the total value extracted nationwide. Among the key players are Vale, the country’s largest iron ore producer; Anglo American, with its Minas-Rio project; CSN Mineração; and CBMM, a global leader in niobium.
In addition to being the world leader in niobium – with 94% of global reserves concentrated in the states of Minas Gerais and Goiás – Brazil also stands out in the production of bauxite, gold, and manganese, and holds the second-largest reserve of rare earths in the world. These minerals are essential to industries such as clean energy, aerospace, defense, and electric mobility.
Investment prospects highlight the sector’s dynamism. From 2025 to 2029, up to USD 68.4 billion in investments are projected in the country, according to a report by the Brazilian Mining Institute (IBRAM). “International interest is very strong; Canadian companies, for instance, already see Brazil as a strategic country to secure the supply of critical minerals in the coming years,” Calonga stated.
Sector events
To promote the mining industry in Brazil, various organizations host major events that create an environment for opportunities and networking. One of the country’s main references is Exposibram, which will take place this year in Salvador (BA), from October 27 to 30, 2025. The exhibition is considered the largest showcase of mining business and experiences in Latin America, combining a trade fair, congress, and business meetings in a single venue. The goal is to connect domestic and international players, present trends, and foster strategic partnerships in the mineral sector.
CCBC will participate in the event with a special program focused on promoting connections between Brazilian and Canadian companies, as well as discussing joint investment projects. The initiative reinforces the Chamber’s role as an institutional bridge for bilateral business.
On October 29, as part of the Exposibram agenda, CCBC will hold – in partnership with the Consulate General of Canada in Brazil and with the support of SENAI-CIMATEC and the Bahia Mineral Research Company (CBPM) – a meeting between Canadian and Brazilian companies specializing in technology and services for the mining sector.
Henrique Carballal, President of CBPM, highlights the importance of this cooperation. “CBPM has been working strategically to strengthen technological and investment exchanges between Brazil and Canada, two global references in mining.” For him, this movement goes beyond mineral exploration. “Our commitment is to build bridges that promote sustainable, inclusive, and innovative mining capable of driving the socioeconomic development of Bahia and Brazil.”
In addition to Exposibram, the Chamber will also participate in Expominério, in Cuiabá (MT), on November 26, 27, and 28. The event has been gaining relevance in the small-scale mining segment and, in 2025, will feature CCBC’s participation for the second consecutive year. Two Chamber members, Techno Alloys and Adex Group, will also be present as exhibitors, and CCBC will contribute with content and speaker recommendations.
In 2026, the highlight will be PDAC (Prospectors & Developers Association of Canada), in Toronto, considered the world’s largest event for mining exploration and investment. CCBC will participate for the tenth consecutive year, organizing the delegation of Brazilian companies interested in exploring opportunities and joining a structured agenda of activities and connections with international players.
For more information about these events, please contact CCBC at cc**@******rg.br.
