Business

How the global EV boom can benefit Brazil’s mining sector

As the electric vehicle market booms, surging demand for battery-related minerals creates opportunities in mining – but Brazil has a long way to go to seize these opportunities and diversify its mining sector

ev tesla vale mining
Photo: TierneyMJ/Shutterstock

Brazil’s mining sector posted lukewarm results at the beginning of 2022. Both production and sales were down significantly in Q1 compared with one year prior, due in part to maintenance on a number of operation units across the country, the effects of strong rains in the state of Minas Gerais, and a sharp decrease in Chinese imports.

Rising costs, ongoing Covid lockdowns in China, and economic uncertainty in Europe continue to cast a cloud over the mining sector’s prospects. 

But there could be one bright spot on the horizon: growing global demand for the minerals used to make electric...

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