August 3, 2018 / 8:57 PM / 2 months ago

Brazil mining exports to rise 2.5 pct in 2018 -Ibram

RIO DE JANEIRO, Aug 3 (Reuters) - Brazil’s mineral exports are expected to rise 2.5 percent in 2018 compared to the previous year to 410 million tonnes, as investment in the sector is projected to grow, industry group Ibram said on Friday.

By value, mineral exports are expected to increase to $30 billion from $28.37 billion last year, Ibram said in an email to Reuters.

While iron ore exports were stable in the first six months of the year, copper exports rose 4 percent and gold exports rose 40 percent compared to the prior period, according to Ibram, which represents major miners including Vale SA.

Ibram raised its investment forecast for 2018 to 2022 to $19.5 billion from $18 billion for 2017 to 2021.

The next five-year projection should rise even higher as Brazil overhauls mining sector regulations in a bid to attract investment to the country, Ibram said. (Reporting by Marta Nogueira; Writing by Jake Spring; Editing by Sandra Maler)

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