The Brazilian Mining Association (IBRAM) has announced that it has signed a Memorandum of Understanding (MOU) with the Toronto Stock Exchange (TSX) and TSX Venture Exchange, (TSXV) to establish a relationship to increase investment in the Brazilian mining sector in the coming years. The MOU is expected to open up perspectives for expanding geological research, exploration, and development of mining projects in Brazil.
Some of the initiatives established in the MOU include increasing the number of Brazilian mining companies on the Exchanges and jointly identifying opportunities to boost the investment attractiveness for the Brazilian mining sectors. IBRAM is expected to play a key role in implementing the actions contemplated in the MOU, including identifying attractive projects and investment opportunities in the Brazilian mineral sector. IBRAM and the Exchanges will also organise a joint agenda to promote Brazilian mining, such as investor conferences aimed at attracting Canadian investment.
Wilson Brumer, President of the Board of Directors of IBRAM, and signatory of the agreement, commented: “We are pleased to be working with Toronto Stock Exchange and TSX Venture Exchange, and are excited about raising Brazil’s profile in the Canadian mining investment community and Canadian capital markets. We expect this MOU to be mutually beneficial to Canadian investors and Brazil , and it is our goal to see Canada and other countries recognise the excellent investment opportunities in Brazil – a highly-prospective, geologically diverse mining jurisdiction. We also expect that the new investments resulting from this collaboration with TSXV will boost geological research, which is vital to increasing Brazilian mineral production.”
IBRAM expects investments in the Brazilian mineral sector to expand in the coming years. In February 2020 , IBRAM announced that the value of investments into the Brazilian mining sector is expected to be $32.5 billion in 2020-2024, representing an 18% increase in investments compared to the forecast for 2019-2023. This increase in forecast is driven by investments in green and brownfield project and operational safety.
“We are pleased to be working with IBRAM on joint efforts to advance the Brazilian mining sector, as this is an important market for Toronto Stock Exchange and TSX Venture Exchange,” said Robert Peterman, Vice President, Global Business Development, TSX and TSXV. “We have over 35 companies on our markets with over 100 properties in Brazil , and we believe that our Exchanges will continue to be an important partner and source of capital for Brazilian mining companies.”
Flávio Penido, CEO of IBRAM also commented: ” Brazil’s mineral sector presents excellent investment opportunities. Only 30% of the country’s 8.5 million km2 has adequate geological research for mining. The mines occupy only 0.6% of country’s territory, therefore, there is enormous potential for new investments and the discovery of future world-class deposits.”
