The opportunity of Brazil’s ‘mine state’ Minas Gerais for Australian investment is strong, including a recently signed MOU with Latin Resources, according to Fernando Passalio de Avelar, The State Secretary for Economic Development of Minas Gerais.
Mr Passalio de Avelar said that Minas Gerais had more than 300 mines operating in the state, including being home to 40 per cent of the largest mines in the country.
“We have most 70 per cent of Brazilian mines with over 3 million tonnes production, and we are responsible for more health of metallic minerals production of Brazil and almost 8 per cent of overall national manuals of production,” Mr Passalio de Avelar said.
Foreign investment into Minas Gerais has included Sigma Lithium and Max Resources in America.
“The main ability is to show you about the lithium value of Brazil. The recent value of Brazil is a project – a government project – because we are making the connection between the production, affiliation and policies profits, such as the first best tax treatment.
“Best because in this region, the Minas Gerais state we have main federal benefits tax and main benefits on state tax too. So is good for your pay back.”
Minas Gerais is Brazil’s second most-populous state and has the second largest consumer market in Brazil, at 10.41 per cent of the country. Invest Minas is the region’s investment and foreign trade promotion agency.
“In 2018, Brazil has access to half of the world’s lithium reserve; but it is estimate that this number is 80 per cent, putting Brazil in fifth place in the world lithium rank, but this state data is increasing year by year.”