LATIN AMERICA | MARKET INSIGHT
revenue, equivalent to BRL157.2bn ($31bn). Looking ahead, Brazil’s mineral sector expects total investments of $76.9bn between 2026 and 2030, including $21.3bn allocated to critical and strategic minerals. IBRAM also reports that mining exports reached 431
million tonnes of mineral products in 2025, marking a 7.1% annual increase in volume. Elsewhere in the region, Chile continues to scale up its mining ambitions. In December 2025, the state copper commission Cochilco announced that mining investment is expected to reach CLP95.3trn ($104.5bn) by 2034 – an increase of 26% compared to the 2024 forecast. This strategy aims to strengthen infrastructure supporting critical mineral development. In line with this goal, Chile’s Ministry of Mining released its National Critical Minerals Strategy in late January 2026, outlining plans to position the country as a reliable supplier of critical minerals while promoting strong social, environmental, and governance standards. Argentina is also expanding its role in the sector. In
October 2025, the country’s mining secretary reported that lithium carbonate equivalent (LCE) output capacity will increase from 75,500t per year (t/yr) in 2023 to 418,000t/yr by 2030, reaching 658,000t/yr by 2035. GlobalData data shows that early-stage projects
dominate the regional pipeline, with 77.6% of total project value currently in pre-planning and planning phases. Funding is overwhelmingly driven by the private sector, which accounts for 83.9% of total project value. Public- private partnerships contribute 9.5%, while the remaining 6.6% is funded solely by the public sector.
Brazil
Brazil’s industrial construction sector is estimated to have grown by 1.3% in real terms in 2025 and is forecast to expand at an average annual rate of 2.9% between 2026 and 2029. Growth is expected to be supported by continued investment in manufacturing and mining, alongside initiatives under the government’s Nova Indústria Brasil (NIB) programme.
Through the NIB programme, the government plans
to invest approximately BRL300bn ($55.4bn) by 2026 to support reindustrialisation. The programme also targets increasing the share of biofuels and electric vehicles in transportation to 27% by 2026 and 50% by 2033. Its strategic priorities include boosting industrial productivity, advancing innovation and digitalisation through research and development, strengthening export capacity, and promoting sustainability through greener industrial practices. At the regional level, investment is also gaining momentum. In November 2025, IBRAM and the Bahia Mineral Production Company (CBPM) reported that Bahia State is expected to receive BRL48.8bn ($9.0bn) in mining-sector investment between 2025 and 2029. Notable projects include Brazil Iron’s hot briquetted iron (HBI) production facility, being developed in partnership with CBPM with an estimated investment of BRL30.9bn ($5.7bn). Another key development is the Brasil Transparente project by CBPM and Homerun Brasil, which involves building a solar glass production plant with an estimated investment of BRL1.8bn ($332.2m). According to GlobalData, Brazil’s industrial construction pipeline is valued at $161.2bn, covering projects above $25m from pre-planning through execution. The pipeline remains heavily weighted toward early-stage developments, with 76.3% of total value in pre-planning and planning as of December 2025. Among the largest projects is the $6bn Green Hydrogen
Production Plant, which includes the construction of a green hydrogen production facility, hydrogen vehicle fuelling stations, storage infrastructure, and the installation of air compressors, process heating systems, and safety and security systems. Another major development is the $6bn Bahia Sugarcane Biorefinery Plant. This project includes the construction of an ethanol production facility, processing units, energy cogeneration systems, corn storage infrastructure, distillation units, ethanol storage tanks, and a refinery plant, along with associated equipment, machinery, and safety systems.
Brazil – Industrial construction output by project type (Real, $M), 2020–29
12,000 10,000 8,000 6,000 4,000 2,000 0
2020 2021 2022 2023 2024 2025 2026 2027 2028
Waste processing plants Metal and material production and processing plants Manufacturing plants Chemical and pharmaceutical plants
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