20% of Brazil’s soybean imports by the European Union may come from illegally deforested land, indicated a study released, which provides detailed information on the supply chain. The study, published by Science magazine, also found that 17% of Brazil’s beef exports to Europe are related to the deforestation.
CSN announced an agreement for the supply of iron ore to trading Glencore, in the amount of $115 mm, resources that it will use to reduce indebtedness. The agreement involves the supply of 4 million tons of iron ore in up to 5 years. According to CSN, the amounts foreseen in the agreement may be expanded in the future, depending on the interest of the parties.
2W Energia will carry out an initial offer of actions to raise funds for the construction of wind and solar parks in the Northeast, aiming at selling the production to small and medium-sized customers in the so-called free market of energy. The operation could raise about R$ 1.5 billion ($ 288 mm) for the implementation of the first units.
The Ministry of Mines and Energy (MME) said 35% of foreign capital invested in Brazil is concentrated in mining and energy. According to the ministry, there was an improvement in energy consumption, although at the beginning of the pandemic there was a drop of about 15% compared to last year. In addition, the updating of the Brazilian regulatory framework has finally attracted foreign companies to the country.
The covid-19 pandemic caused the closure of 39.4% of the 1.3 million companies that had temporarily or permanently suspended their operations. In total, 522,700 businesses were closed in the period. The data are from Pulso Empresa survey of IBGE. Among those that were closed, 518,400 (99.2%) were small, 4,100 (0.8%) medium and 110 large.
Mining company Vale informed that a judicial decision established that the company must present guarantees worth about R$ 7.9 billion ($ 1.5 bn) by July 23 to ensure possible payment of fines for the Brumadinho (MG) disaster.
The Gross Production Value (GVP), which measures the revenues from agricultural activities, should reach R$746.2 billion ($143 bn) in 2020, 11.5% more than in 2019, according to the Brazilian Confederation of Agriculture and Livestock (CNA). For agriculture, CNA projects an increase of 16.2% in 2020 compared to last year, with gross revenues of R$478.2 billion ($91 bn).
Castlelake resource manager has plans to invest between R$4 billion and R$5 billion ($769 and $960 mm) in renewable energy in Brazil in the next five years, after closing the acquisition of the Queiroz Galvão construction company’s generation unit in the country. The investments will be made through Ibitu Energia and the objective is to double the installed capacity in the next five years.
Enel Brasil invested R$ 55 million ($10.5 mm) in projects and social initiatives in 2019, generating about R$9.5 million ($1.8 mm) in income for the communities where the company operates. The data outlines the financial and socio-environmental impacts and performance of Enel’s operations in the country, as well as the progress of the company’s goals with the Sustainable Development Goals of the 2030 UN Agenda.
The Gross Domestic Product (GDP) fell 10.5% in the quarter ended in May this year, compared with the same period last year. In comparison with the quarter closed in February of this year, the drop reached 9.4%. The data are from the FGV – GDP Monitor. Considering only the month of May, there was a 13.3% drop compared to the same month last year.