Brazilian Official: Mining Projects Are ‘National Priorities’ – by Neils Christensen (Kitco News – November 5, 2018)

(Kitco News) – While the world continues to react to the election of Brazilian populist president Jair Bolsonaro, some government officials don’t expect this to have much impact on the nation’s plan to develop its national resource.

In an exclusive interview with Kitco News ahead of the October runoff election, Pedro Bruno Barros De Souza, secretary of public policy coordination, said that the government’s Investment Partnership Program (IPP) is bigger than any one political leader. He added that the government, no matter who is in charge, is committed to developing the nation’s natural resources responsibly.

“Brazil has a lot of mineral potential and there are many opportunities for investors and companies who want to work with the government to develop those resources,” he said. “The Brazilian government has been working diligently on its governance to create a stable legal, regulatory framework, so investors will find a positive business environment.”

Although Brazil is home to the world’s largest iron and nickel producer, Vale, and is the world’s third-largest iron ore producer, Barros De Souza said that more work needs to be done to make sure the sector continues to grow and mature.

Brazil’s IPP was first launched in 2016 to help the nation out of its most prolonged recession in the country’s history. Barros De Souza said that the program is expected to bring $90 billion in infrastructure investment into the country within 25 years. Currently, the government has 191 projects in the IPP portfolio.

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