Iron ore exports to Middle East from Brazil surge

miningIron ore exports from Brazil to Middle East countries fetched US$564.5mn in the first half of 2017, up 133 per cent from H1 2016, according to Brazilian Ministry of Industry, Foreign Trade and Services

Iron ore and concentrates made up the entirety of Brazilian ore sales to the region in H1 2017, Brazil’s ANBA news agency reported.

The leading buyer was Oman, where Brazil’s mining company Vale owns an ore pelletising plant and a seaport. Sales to Oman reached US$267.5mn, up 131 per cent from H1 2016. Bahrain placed second at US$129.5mn, up 227 per cent.

Egypt, the third biggest importer, bought US$87.5mn worth of ore, up 74.5 per cent from H1 2016. Next is the UAE at US$46.8mn, as against nil in H1 2016. Libya ranked fifth at US$33mn, up 146 per cent.

In total, Brazilian mineral industries exported US$22.6bn worth of product in H1. Mining product imports to Brazil came out to US$11.1bn, leading to a US$11.5bn trade surplus, according to the Brazilian Ministry of Mines and Energy. These figures include not only ores, but also mineral process industry numbers.

The actual mining industry grossed US$12.3bn in H1 2017, up 64 per cent from H1 2016. Iron ore accounted for 82 per cent of revenue.

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