Optimism

Mining industry in Brazil

Summary: Brazil‘s engine is stuttering in spite of the upcoming soccer world cup and the 2016 Olympic summer games in Rio. The country‘s economic growth is slow and the rate of inflation is high. In addition, it is becoming more and more obvious that Brazil is becoming increasingly dependent on international commodities markets. This report analyzes Brazil‘s mining industry and presents the current developments.

1 Introduction

Investor confidence in Brazil‘s economy and financial policies has continued to decline in recent months, even though the country‘s central bank has raised the key interest rate from the May 2013 level of 7.5 % to the present 10.75 %. Although monetary stability was expressly stated to be the primary objective of government policy, inflation remains at the high level of approximately 6% and is not expected to decrease before 2015. For the first time in a decade, car sales declined last year. The US car manufacturer General Motors plans to cut its workforce by 1000 at the Sao...

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