Discovery in Brazil: the fourth largest mineral deposit in the world is revealed! Company will allocate R$5 billion to extract this hidden wealth and make the country a global leader in mining

Brazil has just revealed one of the largest deposits in the world and a region will be the focus of an investment of R$5 billion

Have you ever imagined that one of the greatest natural resources on the planet could be in Brazil, more precisely in the heart of the Amazon? Well, this discovery promises to change the economic scenario of a region and boost the development of a mineral that the world needs, but perhaps you still have no idea of ​​the impact of this.

After an intense phase of studies and negotiations, a company has just received the green light to explore this new source of wealth, with plans for a billion-dollar investment.

The revelation of this deposit puts Brazil in the spotlight on the global market and promises to generate economic and social transformations in the region involved. What exactly will be extracted and what does this mean for the future of mining and the country’s economy? Check out the surprising details of this story.

World’s fourth largest bauxite deposit discovered in Brazil

On September 3, 2024, Mineração Rio do Norte (MRN) announced that it had obtained a crucial preliminary license from the Brazilian Institute of the Environment and Renewable Natural Resources (IBAMA) for an ambitious bauxite extraction project.

The New Mines Project (PNM), as it was named, foresees investments of around R$5 billion over the next five years for the exploration of this essential raw material around the world.

Bauxite, the basis for aluminum production, is essential for numerous industries, from the automotive industry to technology. With this new mine, Brazil reaffirms its importance in the global aluminum mining and production scenario.

“This is a very important milestone,” said Guido Germani, CEO of MRN, when celebrating the license. “The new mine will allow operations to continue at full capacity until 2042, extending the life of our current mine by more than 15 years.”

Germani’s plan is not only to maintain production levels, but to ensure that the extraction of 12.5 million tons of bauxite per year will continue for at least the next decade.

Which regions will be affected?

The PNM will have a direct impact on the municipalities of Oriximiná, Terra Santa and Faro, in western Pará. The project will explore five distinct plateaus, named Rebolado, Escalante, Jamari, Barone and Cruz Alta Leste, where the bauxite reserves are located.

Each plateau is essential for the continuity of MRN’s operations, and the expectation is that mining activities will bring economic benefits to local communities.

According to the company, respecting the environment and communities is a priority. Germani highlighted that the licensing process with Ibama includes a strict commitment to sustainability, and that the company seeks to ensure that its operations cause the least possible impact.

Significant investment: R$5 billion over the next few years

What makes this project even more impressive is the amount invested: R$5 billion will be earmarked for the expansion of mining in the region.

This amount will be distributed over five years, ensuring that the infrastructure necessary for extraction is properly installed, as well as appropriate environmental measures.

In addition, the resources will also be applied to actions to improve local communities. Direct and indirect jobs will be created, and there is an expectation of regional development, with the injection of capital generating opportunities in sectors such as transportation, food and general services.

Global impact of Brazilian bauxite

Bauxite is one of the most crucial minerals for the modern world. It is the main raw material in the manufacture of aluminum, used in products ranging from automobiles to food packaging and electronics.

Aluminum is valued for its lightness, durability and ability to be recycled without losing its properties, which makes it vital for the circular economy.

Brazil, which is already one of the largest exporters of bauxite, is now consolidating its position as a protagonist on the global stage.

With the expansion of this deposit, the country will increase its share in the international market, directly contributing to the aluminum production chain and, consequently, to industries around the world.

Who is behind this project?

MRN is a company formed by major players in the global mining sector. Its shareholders include Glencore, which holds a 45% stake, South32, with 33%, and Rio Tinto, with 22%.

This combination of strengths makes MRN one of the largest bauxite miners on the planet, with the experience and resources needed to manage large-scale projects such as PNM.

With the preliminary license in place, MRN’s next step will be to proceed with the additional stages of the deposit licensing process, ensuring that the project complies with all environmental and legal regulations.