Trade group seeks congressional support to boost Brazil mining exploration

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Brazilian mining association Ibram is seeking congressional support to expand mining exploration as a way to diversify the sector’s output.  

“The lack of geological knowledge is worrying in Brazil. We currently have only 3% of the national territory mapped,” said Ibram president Flávio Penido after a meeting with lower house lawmakers. “Brazil knows very little about its subsoil. We have minerals that are still little explored,” he added. 

At Ibram’s Brasília office Penido met with legislators Arnaldo Jardim, Paulo Ganime, and Édio Lopes, who is president of the lower house’s mines and energy committee. 

Brazil is highly dependent on iron ore, which represents more than two thirds of its mining production and revenues. 

As part of efforts to diversify output, congress is currently discussing a review of the country’s mining code. Among expected changes are an ease of environmental licensing regulation for certain phases of mining exploration and also the use of mining titles as guarantee for miners to obtain financing.