Brazil mining sector posts higher Q1 revenue, association says
Vale’s iron ore mine in Pará, Brazil. (Image by: José Rodrigo Zermiani | Agência Vale)
Brazil’s mining sector generated revenue of 77.9 billion reais ($15.6 billion) in the first quarter, up 6% from a year earlier, Brazilian mining industry association Ibram said on Wednesday.
Sector exports totaled 87.9 million metric tons in the quarter, up 0.9% year-on-year.
Export revenue rose 21.5% to $11.4 billion.
Iron ore exports reached 84.8 million tons, up 0.8%, valued at $6.2 billion, up 2.4%.
Iron ore accounted for 48% of total sector revenue at 37.5 billion reais, down 3% from a year earlier.
Ibram represents companies including Vale, Gerdau, ArcelorMittal and Mosaic.
($1 = 4.9947 reais)
(By Marta Nogueira and Isabel Teles; Editing by Emelia Sithole-Matarise)
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