Brazil's Bahia state sees rising mining revenues

Mining revenues in Brazil’s Bahia state increased 60% year-on-year to 1.05bn reais (US$20.2bn) in January, boosted by gold, nickel and copper.

The share of gold was 25%, with nickel and copper representing 19% each, according to the economic development secretariat. 

Bahia is Brazil’s third biggest mining state, after Pará and Minas Gerais. Although the revenues were still much lower compared to its peers, Bahia has major growth potential, as its mining industry is highly diverse.

This potential has caught the attention of investors. Of the US$50bn projected to be invested in Brazil in 2023-27, around US$10.2bn will go to Bahia, according to mining association Ibram.