By Brazil Stock Guide – Brazil’s mining industry posted revenue of R$ 298.8 billion in 2025, up 10.3% from the previous year, driven by sharp gains in gold and copper as global prices climbed to record or near-record levels.
Iron ore, the country’s main mineral product, moved in the opposite direction. Revenue from iron ore slipped 2.2% to R$ 157.2 billion, accounting for 52.6% of total sector revenue, as average prices declined over the year.
Gold delivered the strongest performance. Revenue surged 64.8% to R$ 39.3 billion after prices rose above $4,000 an ounce during the year. The annual average price was 43.9% higher than in 2024, while the metal ended 2025 at $4,289.48 an ounce, up 62.2% from the close of the previous year.
Copper also recorded robust growth, with revenue climbing 50.1% to R$ 30.4 billion. Prices exceeded $12,000 a metric ton during 2025, resulting in an annual average 8.7% higher than in 2024. On Monday (5), copper was priced at $12,504 a ton, about 46% above its level at the end of 2024.
Iron ore prices continued to soften. The commodity’s average annual price fell 6.6% from 2024, with the benchmark ending December 2025 at $107.19 a ton.
Regionally, Minas Gerais led mining revenue in 2025, accounting for 39.9% of the total. Pará followed with a 34.5% share, while Bahia represented 4.5%.
The mining industry generated R$ 103 billion in tax revenue during the year, a 10% increase from 2024. Collections from mining royalties, known as CFEM, totaled R$ 7.9 billion.
Employment also expanded. The sector reached 229,312 direct jobs, with 8,330 positions created between January and November.
Investment plans point to further expansion. Projected spending between 2026 and 2030 totals $76.9 billion, up 12.5% from the previous period. Investments in critical minerals are expected to reach $21.3 billion by 2030, an increase of 15.2%.
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