According to a study carried out by the economic research area of federal development bank BNDES, Brazil's mining sector is expected to receive BRR 52 billion (USD 29.4 billion) of investments in the 2010-13 period down by 2.7% BRR 53 billion received in 2005-08.

Iron ore mining is expected to receive BRR 30 billion in the period, while investments are forecast to total BRR 4 billion in aluminum and BRR 2 billion in nickel.

Growth in Chinese demand has driven investments in the Brazilian mining industry. In 2009, the increase in Chinese imports offset the slump in demand in the rest of the world, as China accounted for 70% of global iron ore foreign trade last year.

The decline in the investment amount is a result of the slower demand growth outlook worldwide, following projects that are already being implemented globally.

BNDES projects that investments in the industrial sectors researched oil and gas, mining, steelmaking, petrochemical, paper and pulp, automotive and electronics will total BRR 499 billion in 2010-13 up 60.2% as compared to 2005-08.

(Sourced from BNamericas)