The world is more connected than ever, and mining technology and service companies are no exception. As they expand their reach globally, they need to follow their clients to new markets, from a copper mine high in the Andes to the icey cold winters of Northern Canada. When exploring new markets, it’s the classic “chicken or egg” dilemma: You want to see success before committing to the expenses of a local operation, but as soon as you start generating revenue, the risk of being classified as a PE increases.
Brazil is an important mining market. The country is one of the five largest mineral producers in the world. Although the country is known for its iron ore operations, it also has production in copper which until now has not received a lot of fanfare. That is set to change with some exciting developments.
In part three of our Brazil series, we cover practical information that companies need to know when hiring staff in Brazil. While many of the labor laws are similar to other parts of the world, there is some key details that will help companies understand how things work in Brazil.
Brazil has unique importation requirements that are used to protect local industry and encourage domestic manufacturing. From licenses to taxes, importations can be difficult to navigate for foreign companies.
Brazil is a great market with many interesting opportunities for foreign companies. It is relatively easy to incorporate a company, but local knowledge and know-how is required for foreign companies to navigate the business and legal aspects properly. Check out our practical guide.
Mining technology companies looking at Latin America need to decide on the best way to service the region. One of the first decisions that companies need to make once they confirm a market has potential is whether they will work through partners or sell direct to the mines.
Brazil is an important mining market that provides some attractive opportunities to mining suppliers. The country’s mining association Ibram has recently released its report projecting an increase in investment from US$40.4bn to US$50bn for the 2023-27 period.
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