SAO PAULO, Brazil (AP) -- The Brazilian Mining Association says it expects investments to expand the nation's mining industry will reach US$57 billion in the next four years.
The group predicts the iron sector will see an estimated US$37 billion in investments, or 65 percent of the total. About US$5.5 billion is anticipated for nickel exploration.
The association said in a statement Wednesday that its previous estimate, released in January, predicted investments of US$48 billion through 2012.
Brazil is home to the world's largest iron ore miner, Companhia Vale do Rio Doce SA, or Vale.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.