Precious Metals Mining in Brazil to 2020

Brazil has significant gold reserves – located mainly in the states of Para and Minas Gerais – with 2,400 tonnes as of February 2014. Gold mine production was estimated at 2.7 million ounces in 2013, and is expected to grow at a CAGR of 3.5% over the forecast period (2014–2020) with the expansion of existing mines and upcoming projects to 2016.

Scope

The report contains an overview of the Brazilian precious metals mining industry, together with key growth factors and restraints affecting the industry. It also provides information about reserves, production, consumption, prices, competitive landscape, major active, exploration and development projects, and the country's fiscal regime.

Key Highlights

• The mining industry played a crucial role in Brazil’s economic development by generating employment for 16,000 workers directly, earning foreign revenue and contributing 4% of GDP.

• Silver reserves are mainly located in the state of Para. Silver mine production was estimated at 732,000 ounces in 2013, with major production from the states of Para, Minas Gerais, Bahia, Goias and Parana.

• Brazil has precious metal mining projects planned up until 2016. These include gold projects, such as the Cristalino project of the Banco Nacional de Desenvolvimento Economico e Social and Vale SA.

• Silver projects such as the Aripuana project of Votorantim Metais and Karmin Exploration Inc., located in the state of Mato Grosso, are expected to start in 2016.

Reasons to buy

Gain an understanding of the Brazilian precious metals mining industry, the relevant drivers and restraining factors, reserves, historic and forecast production, consumption, prices, the competitive landscape, and the fiscal regime.

Companies mentioned

AngloGold Ashanti Ltd

Kinross Gold Corporation

Yamana Gold Inc.

Table of Contents

1 Executive Summary 1

2 Precious Metals Mining in Brazil 6

2.1 Country Overview 6

2.2 Mining Overview 6

2.3 Precious Metal Mining in Brazil – Drivers 8

2.4 Precious Metals Mining in Brazil – Restraints 9

3 Gold Mining in Brazil – Reserves and Production 10

3.1 Reserves by Grades and Geographic Regions 10

3.2 Historical and Forecast Production 10

3.2.1 Total production by state 12

3.3 Gold Prices 13

3.4 Total Production by Major Mines 15

3.5 Total Production by Mining Method 16

3.6 Major Exploration and Development Projects 16

3.7 Demand Drivers 17

4 Silver Mining in Brazil – Reserves, Production and Consumption 18

4.1 Reserves by Grades and Geographic Regions 18

4.2 Historical and Forecast Production 18

4.2.1 Total production by state 20

4.3 Silver Prices 21

4.4 Total Production by Major Mines 22

4.5 Total Production by Mining Method 22

4.6 Major Development Projects 22

4.7 Silver Consumption 22

4.7.1 Total consumption 22

4.8 Demand Drivers 24

4.8.1 Increasing demand for silver 24

5 Competitive Landscape 25

5.1 AngloGold Ashanti 25

5.2 Kinross Gold Corporation 27

5.3 Yamana Gold Inc. (Yamana) 28

6 Fiscal Regime 29

6.1 The Brazilian Mining Industry – Governing Bodies 29

6.1.1 Ministry of Mines and Energy (MME) 29

6.1.2 National Department of Mineral Production (DNPM) 29

6.1.3 Brazil Geological Survey (CPRM) 29

6.1.4 National Commission of Nuclear Energy (CNEN) 29

6.1.5 Industrias Nucleares do Brasil SA (INB) 30

6.1.6 Ministry of Science and Technology (MCT) 30

6.2 The Brazilian Mining Industry – Governing Laws 30

6.2.1 The Mining Code 30

6.2.2 Law No. 4.118 30

6.2.3 Law No. 6.189 30

6.2.4 Law No. 9765 30

6.3 The Brazilian Mining Industry – Mining Licenses 30

6.3.1 Exploration authorization system 31

6.3.2 Exploration authorization permit 31

6.3.3 Mining concession system 31

6.3.4 Environmental impact assessment (EIA) study for mining activity 32

6.3.5 Environmental licensing for mining activity 32

6.4 The Brazilian Mining Industry – Rights and Obligations 32

6.4.1 Rights 32

6.4.2 Obligations 32

6.5 The Brazilian Mining Industry – Key Fiscal Terms 32

6.5.1 Royalty 33

6.5.2 Corporate income tax 33

6.5.3 Land owner royalty 33

6.5.4 Annual tax 34

6.5.5 Withholding tax 34

6.5.6 Depreciation rates 34

6.5.7 Value Added Tax 35

7 Appendix 36

7.1 What is This Report About? 36

7.2 Methodology 36

7.3 Secondary Research 36

7.4 Primary Research 36

7.5 Contact GlobalData 37

7.6 About GlobalData 37

7.7 GlobalData’s Services 37

7.8 Disclaimer 39

List of Tables

Table 1: Gold Mining in Brazil – Mine Production (Thousand Ounces), 2000–2020 12

Table 2: Gold Mining in Brazil – Major Active Mines, 2014 15

Table 3: Gold Mining in Brazil – Major Exploration Projects, 2014 16

Table 4: Gold Mining in Brazil – Major Development Projects, 2014 16

Table 5: Silver Mining in Brazil – Mine Production (Thousand Ounces), 2000–2020 20

Table 6: Silver Mining in Brazil – Major Active Mines, 2014 22

Table 7: Silver Mining in Brazil – Major Development Projects, 2014 22

Table 8: Silver Mining in Brazil – Silver Metal Consumption (Thousand Ounces), 2000–2020 24

Table 9: Precious Metals Mining in Brazil – AngloGold Ashanti Limited, Major Projects, 2014 26

Table 10: Precious Metals Mining in Brazil – Kinross Gold Corporation, Major Projects, 2014 27

Table 11: Precious Metals Mining in Brazil – Yamana Gold Inc., Major Projects, 2014 28

Table 12: The Mining Industry in Brazil – Uranium Licensing Fees (BRL $), 2014 33

Table 13: The Mining Industry in Brazil – Federal Royalty (%), 2014 33

Table 14: The Mining Industry in Brazil – Mining Taxation (%), 2014 34

Table 15: The Mining Industry in Brazil – Depreciation Rates (Years and %), 2014 35

List of Figures

Figure 1: Location of Mineral Deposits in Brazil 7

Figure 2: Gold Mining in Brazil – Mine Production (Thousand Ounces), 2000–2020 11

Figure 3: World Nominal Gold Prices – US$/oz (2000–2013) 13

Figure 4: World Nominal Gold Prices – US$/oz, 2013–2020 14

Figure 5: Silver Mining in Brazil – Mine Production (Thousand Ounces), 2000–2020 19

Figure 6: World Nominal Silver Prices – US$/oz, 2013–2020f 21

Figure 7: Silver Mining in Brazil – Silver Metal Consumption (Thousand Ounces), 2000–2020 23

    Pricing

Discounts available for multiple purchases.

reportstore@globaldata.com
+44 20 7947 2745

Join our mailing list

Saved reports