References

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Invest in Para

Para is the second-largest state in Brazil, located in the northern part of the country. The neighboring states are Amapa, Maranhao,Tocatins, Mato Grosso,  Amazonas,  Guyana, Suriname and Roraima. The capital city of the state is Belem.

The state is famous for its rubber industry, tropical hardwoods such as mahogany and minerals such as iron ore and bauxite.  Another major attraction of this region is Marajo-style ceramics based on pottery.  The service sector is the major component of the GDP of the state, standing at approximately 40.9%, followed by the industrial sector and agriculture at 36.3% and 22.8% approximately. 

The mining sector has a share of 14% in overall GDP of the state. The revenue is earned mainly from extraction of bauxite, manganese, iron, tin, limestone and gold. Para exports approximately 31.1% of iron ore, 8.3% of aluminum ores and 7.9% of other ores. Carajas’s mountains are located in this region, which are the biggest mining areas in the country. Approximate 296 metric tonnes of iron ore was extracted in the year 2007 and the product is mainly exported to Italy, France, Spain, Germany and Japan.

The State of Para is also known for vegetable extraction agriculture and raising cattle. The region has rich soil and an important hydrographic basin.  Brazil intends to diversify its mining sector. It aims to attract new investment in mining to consolidate its position as the world’s largest producers of iron ore, nickel, zinc, aluminum and bauxite.  CVRD, one of the four largest mining groups in the world, has plans of investing $1.5 billion into seven different projects to increase iron ore production capacity. The company has plans of two expansion phases in Caraja’s mining region and the company expects to raise production to 85 Mt per year and then 100 Mt per year. 

The CVRD also has plans to set up two development modules: one for the Alunorte’s alumina refinery, and the second for the Paragominas bauxite mine.  The investments are worth $846 million and both plans are located in the state of Para. After completion of second phase of development, Alunorte will produce approximately 6.26 Mt/y of alumina, making it the second biggest refinery in the world.  CVRD also has plans to develop the Juruti bauxite mine in Para, which has an initial production capacity of 2.6 Mt/y while the resources are considered to be around 350 Mt.

There is news about new laterite nickel deposits with great potential in Serra do Tapa, in the city of Xinguara in the southeastern region of Para. FalconBridge intends to invest around $6.2 million in exploration of the 400 km2 area. Many Canadian junior companies have joined hands with FalconBridge in exploration of nickel and copper in the region of Caraja.

The Amazon forests, famous for rubber production, are located in the state Of Para. Private investors have a range of investment opportunities in the rubber sector of Brazil.  The State of Para has already taken steps to improve its infrastructure and invested around US$310 million in construction of highways and airport.