Brazilian Mining Association Signs Memorandum of Understanding with Toronto Stock Exchange and TSX Venture Exchange to Boost Canadian Investment in Brazilian Mineral Sector
Collaboration with Canada's premier equity markets expected to increase access to capital for Brazilian mining investments
TORONTO, March 2, 2020 /CNW/ - The Brazilian Mining Association ("IBRAM") is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with Toronto Stock Exchange (TSX) and TSX Venture Exchange, ( TSXV) to establish a relationship to increase investment in the Brazilian mining sector in the coming years. The MOU is expected to open up perspectives for expanding geological research, exploration, and development of mining projects in Brazil.
Some of the initiatives established in the MOU include increasing the number of Brazilian mining companies on the Exchanges and jointly identifying opportunities to boost the investment attractiveness for the Brazilian mining sectors. IBRAM is expected to play a key role in implementing the actions contemplated in the MOU, including identifying attractive projects and investment opportunities in the Brazilian mineral sector. IBRAM and the Exchanges will also organize a joint agenda to promote Brazilian mining, such as investor conferences aimed at attracting Canadian investment.
Wilson Brumer, President of the Board of Directors of IBRAM, and signatory of the agreement, commented, "We are pleased to be working with Toronto Stock Exchange and TSX Venture Exchange, and are excited about raising Brazil's profile in the Canadian mining investment community and Canadian capital markets. We expect this MOU to be mutually beneficial to Canadian investors and Brazil, and it is our goal to see Canada and other countries recognize the excellent investment opportunities in Brazil – a highly-prospective, geologically diverse mining jurisdiction. We also expect that the new investments resulting from this collaboration with TSXV will boost geological research, which is vital to increasing Brazilian mineral production."
IBRAM expects investments in the Brazilian mineral sector to expand in the coming years. In February 2020, IBRAM announced that the value of investments into the Brazilian mining sector is expected to be US$32.5 billion in 2020-2024, representing an 18% increase in investments compared to the forecast for 2019-2023. This increase in forecast is driven by investments in green and brown field project and operational safety.
"We are pleased to be working with IBRAM on joint efforts to advance the Brazilian mining sector, as this is an important market for Toronto Stock Exchange and TSX Venture Exchange," said Robert Peterman, Vice President, Global Business Development, TSX and TSXV. "We have over 35 companies on our markets with over 100 properties in Brazil, and we believe that our Exchanges will continue to be an important partner and source of capital for Brazilian mining companies."
Flávio Penido, CEO of IBRAM also commented, "Brazil's mineral sector presents excellent investment opportunities. Only 30% of the country's 8.5 million km2 has adequate geological research for mining. The mines occupy only 0.6% of country's territory, therefore, there is enormous potential for new investments and the discovery of future world-class deposits."
ABOUT IBRAM
The Brazilian Mining Association – IBRAM is a private, not-for-profit organization which represents companies and institutions in the Brazilian mineral sector in seeking to establish a favourable environment for business, competitiveness and sustainable development. In order to promote innovation within the sector, and disseminate best practices and the latest technology available on the market, the association organizes debates, events, studies and research related to the mineral economy, tax, legislation, trends, risks, opportunities and other topics of interest to the mining industry.
Considered to be the spokesperson of Brazilian mining, the association has 130 members who, directly or indirectly, form part of the Brazilian mining sector. These include mining companies; employer organizations; mineral engineering, environmental and geology companies; equipment manufacturers; technology centres; and investment banks, amongst others.
IBRAM is also committed to promoting and increasing technological capacity and human resources within the Brazilian mining sector. In addition to defending sustainability, respect for the environment and water resources, IBRAM constantly strives to improve the quality of life of society; in particular, of those communities and populations where mining activities take place.
It is also important to highlight IBRAM's work with different economic segments and public bodies – executive, legislative and judiciary powers – both on a federal and state level, non-governmental organizations, and employer and employee entities to build Brazilian society's trust in the work performed by mining professionals and companies.
SOURCE The Brazilian Mining Associations (IBRAM)
IBRAM's Press Contact: Paulo Henrique Soares - Communications Director, [email protected] / 55 31 98121-6565; Sérgio Cross - Press officer, [email protected] / 55 61 98163-0666
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