Brazil’s gold production is predicted to rise in the coming years, as mines are expanded and new projects are launched.
The country’s “significant amount” of existing gold reserves currently total 2,400 tonnes, according to a new report, titled Precious Metals Mining in Brazil to 2020.
Production from gold mines totalled an estimated 2.7 million ounces last year, with the metal primarily sourced by mines in the states of Para and Minas Gerais. (The country also has significant silver reserves, with mine production totalling an estimated 732,000 ounces last year, also driven by mines in Para and Minas Gerais.)
Brazil’s gold production is forecast to grow by a further 3.5 per cent by 2020. Indeed, the mining industry is already a major driver of the Brazilian economy, employing 16,000 workers and contributing 4 per cent of GDP. New precious metal mining projects anticipated in the coming years include the Cristalino project of the Banco Nacional de Desenvolviment Economico e Social and Vale SA.
Brazilian gold mine, Minas Gerais Photo: Leandro’s World Tour
Source: The Movechannel