Brazilian Mining Association signs MOU with TSX

From left to right: Evelyn Coulombe, Consul General of Canada in Rio de Janeiro, Wilson Brumer, Chairman of the Board for the Brazilian Mining Association, Robert Peterman, Vice President, TMX - Global Business Development, Guillaume L?(C)gar?(C), Head, TMX - South America (Credit: IBRAM)

The Brazilian Mining Association (IBRAM) announced on Monday it has signed a Memorandum of Understanding (MOU) with the Toronto Stock Exchange (TSX) and the TSX Venture Exchange (TSXV) to increase investment in the Brazilian mining sector.

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 said in an emailed statement.

Some of the initiatives established in the MOU include increasing the number of Brazilian mining companies on TSX and TSXV

"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," said Wilson Brumer, president of the board of directors of IBRAM.

In February 2020, IBRAM announced that the value of investments in the Brazilian mining sector is expected to be $32.5 billion from 2020-2024, representing an 18% increase in investments compared to the forecast for 2019-2023.