Mining in Brazil Strategic Priorities and Investments Analysis¶

Strategic Priorities¶

Major industry players in the Brazilian mining sector are focusing on several key strategic priorities for 2024 and 2025, reflecting global market trends, the need for operational efficiency, and increasing emphasis on sustainability and energy transition minerals.

Vale S.A., a dominant force in iron ore and nickel, has strategic priorities centered around operational excellence, sustainable development, growth opportunities, and innovation and technology. A key focus is expanding its share in minerals vital for the energy transition, particularly copper and nickel. The company is also committed to reducing carbon emissions, targeting net-zero Scope 2 emissions in Brazil by 2025 and globally by 2030. Operational efficiency and cost reduction are also significant, with a target of improving overall energy efficiency by 5% by 2030. Strengthening leadership succession, evolving performance and accountability models, and improving technical training are also priorities related to people.

Anglo American is undergoing a strategic transformation to become a more focused mining company, emphasizing copper, premium iron ore, and crop nutrients. A key priority for 2025 is the divestment of its nickel assets in Brazil as part of a broader portfolio simplification. Concurrently, Anglo American remains committed to investing in and expanding its Minas-Rio iron ore operation, which is considered a core asset supporting the energy transition due to its high-grade product. The company aims to increase production capacity at Minas-Rio and enhance operational efficiency and long-term sustainability.

CSN Mineração, a significant iron ore producer, is prioritizing the acceleration of its capital expenditure plans to advance key projects like Itabirito P15 (Casa de Pedra). A major strategic goal is to improve iron ore quality to meet higher demand and prices, particularly from steel mills in Asia seeking raw materials to reduce carbon emissions. The company also plans substantial investments in its logistics infrastructure, specifically the Tecar terminal at Itaguaí port, to support increased production and exports. Focusing on prioritizing margin over volume in their production strategy is also noted.

Kinross Brasil Mineração, the Brazilian subsidiary of Kinross Gold Corporation, is focused on maintaining stable gold production globally and delivering value to shareholders through dividends and share buybacks. Their operational focus for 2025 includes cost control, capital discipline, and delivering planned grades. Securing long-term power supply at a low, fixed cost for the Paracatu mine to lower production costs is also a strategic objective that was addressed by an acquisition in the past.

Samarco, a joint venture between Vale and BHP, is primarily focused on the full resumption of its iron ore operations following the 2015 dam collapse. A key strategic priority is to return to full production capacity by January 2028. This includes significant investment in technology for filtered and dry-stacked tailings and the decharacterization of the Germano dam ahead of schedule to enhance safety and environmental sustainability. Samarco also aims to regain its position among the top global iron ore pellet exporters.

Mosaic Fertilizantes, the Brazilian operation of The Mosaic Company, is focused on improving operational efficiency and reallocating capital to higher-return opportunities. Leveraging its strong market access in Brazil and expecting significant sales volume growth in 2025 is a key strategic initiative. Portfolio optimization, including the sale of non-core assets, is also part of their strategy to streamline operations and enhance financial performance. The company is also committed to cost reduction plans, targeting a significant run rate reduction by the end of 2025.

CBMM, the world leader in niobium production, has a strategic goal of expanding the market for niobium by seeking new avenues of growth beyond the traditional steel industry. This includes developing tailored products and exploring potential uses for the metal in new applications, particularly in the battery segment. CBMM aims to increase its sales capacity significantly and achieve a substantial portion of its revenue from non-steel-based products by 2030. Investment in innovation and R&D, especially in battery technology and advanced materials, is a fundamental part of this strategy. Safety, waste and dam management through investment in new technologies, and ethics and integrity are also key priorities.

Usiminas (Mineração Usiminas), linked to the steel industry, is focused on operational improvements and capturing efficiencies from recent investments. While the steel division faces challenges, the mining division is expected to show stability and contribute positively, supported by exchange rates influencing iron ore prices. The company plans investments to improve cost of goods sold per ton through continued efficiency gains.

Recent and Planned Investments¶

Major players in the Brazilian mining industry have significant investment plans for 2024 and 2025, aligning with their strategic priorities.

Player Name	Investment Focus	Amount (2024)	Amount (2025)	Planned Investment Period	Notes
Vale S.A.	Total Capex	US$ 6.0 billion	US$ 5.9 billion	Annual	Revised down from US$6.5bn
	Energy Transition Minerals (Copper, Nickel)	~$2.0 - 2.5 billion (part of total capex)	US$ 2.0 - 2.5 billion (revised down from US$ 2.5-3.0bn)	Annual	Focus on copper and nickel projects like Bacaba, Alemão, and Onça Puma.
	Iron Ore Solutions	~$3.5 - 4.0 billion (part of total capex)	US$ 3.9 billion (in line with previous estimates)	Annual	Includes Serra Sul, Capanema, Tubarão briquette plants, and S11D maintenance.
	Environmental Projects	US$ 2 billion	Not specified	2024	Includes reforestation and water management.
	Growth Projects (Brazil and China)	US$ 3 billion	Not specified	2024	Allocation for expansion initiatives.
	R&D	US$ 500 million - US$ 1.2 billion	Not specified	2024	Focus on operational efficiency, new products, and environmental footprint reduction.
Anglo American	Minas-Rio Expansion and Sustainability	Part of US$ 2 billion	Part of US$ 2 billion	2024-2028	Expanding capacity, enhancing efficiency and sustainability.
	Total Capex	US$ 5.5 billion	Not specified (streamlined strategy)	2024	US$ 4.3bn for sustaining ops, US$ 1.2bn for long-term growth.
CSN Mineração	Total Capex	R$ 1.79 billion	R$ 2.0 - 2.5 billion (US$ 345-352 million)	Annual	Accelerated capex plan. Expected to increase year by year until 2027.
	Itabirito P15 Project (Casa de Pedra)	Part of total capex	Significant portion of total capex	Ongoing	Advancing project to increase iron ore output and quality.
	Tecar Terminal at Itaguaí Port	Substantial investments	Substantial investments	Not specified	Investments to support increased production and exports.
Kinross Brasil Mineração	Sustaining Operations	Part of Global Capex	US$ 195 million	Annual	Exclusively for sustaining operations in Brazil. Part of total global capex of US$ 1.15 billion.
	Exploration and Business Development	Part of Global Capex	~$175 million (global)	Annual	Global exploration, mainly at other sites, but indicates overall company focus.
Samarco	Operational Recovery and Expansion	US$ 260 million (since 2020)	Over US$ 1 billion (total plan)	Until Jan 2028	To return to full capacity, includes technology upgrades, capacity expansion, tailings management.
	Germano Dam Decommissioning	Part of over US$ 1 billion plan	US$ 580 million	By 2026	Transition to filtered and dry-stacked tailings.
	Tailings Filtration Plant & Concentrator 2 Reactivation	Part of R$ 1.6+ billion	Completed in 2024 / Part of ongoing investment	Completed 2024 / Ongoing	Key steps in reactivation and capacity doubling. Total investment in these projects R$ 1.6+ billion.
Mosaic Fertilizantes	Cost Reduction Plan	Part of $200 million reduction from 2023 level	Part of plan to achieve $150 million run rate reduction	Until end 2025	Improving operational efficiency.
	Construction of Blending Facility in Palmeirante, Brazil	Ongoing	Completion expected Q3 2025	Until Q3 2025	Enhancing market access and distribution in Brazil.
	Sale of Phosphate Mine in Patos de Minas	Transaction announced Jan 2025	US$ 125 million (over six years)	Over six years	Portfolio optimization and focus on core areas.
CBMM	Technology Program	BRL 250 million (US$ 43 million)	Not specified (annual investment)	Annual	Investing in R&D for new materials and applications, especially in batteries.
	Niobium Oxide Refining Facility (Industrial Scale)	$80 million	Production start before end 2024	Completed 2024	To meet demand for niobium oxide in battery applications.
	Niobium-Based Anode Production Facility (with Echion Technologies)	Investment made	Inaugurated Nov 2024	Completed 2024	World's first volume manufacturing facility for XNO technology.
Usiminas (Mineração Usiminas)	Total Capex	R$ 1.1 billion	R$ 1.4 - 1.6 billion	Annual	Guidance for 2025.
	Alto-Forno 3 Reform & Accessory Equipment (PCI plant, Cokeria 2)	R$ 2.7 billion (total project)	Ongoing execution	Ongoing	Project conclusion stages. Aiming for operational efficiencies.
	Investments for Operational Efficiencies	Part of total capex	Part of total capex	Ongoing	To improve cost of goods sold per ton.

Alignment Between Strategic Priorities and Investment Flows¶

The analysis of strategic priorities and investment flows reveals a strong alignment among the major Brazilian mining players, particularly in their focus on key commodities, operational efficiency, sustainability, and adapting to market demands.

Vale's investments clearly align with its strategic priorities. The significant allocation of capital towards energy transition minerals like copper and nickel, alongside substantial investments in iron ore, directly supports its goal of expanding in these key areas while maintaining leadership in its core business. Investments in environmental projects and R&D further underscore its commitment to sustainable development and innovation. The "Novo Carajás" program, with its focus on leveraging mining potential and investing in technology and sustainability, exemplifies the integrated approach to achieving strategic goals in a major operational hub.

Anglo American's strategy of portfolio simplification and focus on core assets is reflected in its plan to divest nickel operations while simultaneously committing significant investment to the Minas-Rio iron ore project. This aligns with their aim to concentrate on commodities supporting the energy transition and offering growth potential.

CSN Mineração's accelerated capex and focus on the P15 project and port infrastructure directly support its strategic priority of increasing iron ore production volume and, crucially, improving quality to meet market demand for lower-carbon steel production.

Kinross Brasil Mineração's investments primarily in sustaining operations in Brazil align with its global focus on stable production and cost control. While global exploration is a priority, the specific allocation to Brazil is for maintaining existing operations.

Samarco's substantial investment plan is entirely directed towards its overarching strategic priority: the full resumption of operations, emphasizing safety through advanced tailings management and dam decommissioning. The investments in reactivating plants and building filtration facilities are direct actions to achieve their production targets and regain market position.

Mosaic Fertilizantes' investments in a blending facility in Brazil and its cost reduction initiatives directly support its strategic priority of leveraging market access in Brazil and improving operational efficiency. The sale of a phosphate mine aligns with its strategy of portfolio optimization to focus on higher-return opportunities.

CBMM's significant annual investment in its technology program and the establishment of new production facilities for niobium-based battery materials strongly align with its strategic goal of expanding the market for niobium beyond steel and into new, high-growth applications like batteries.

Usiminas' planned capex and focus on projects like the Alto-Forno 3 reform, while primarily related to its steel operations, also include investments in its mining subsidiary aimed at improving operational efficiencies and costs, which supports the mining division's role within the larger group.

Overall, the investment flows of the major Brazilian mining players in 2024 and 2025 demonstrate a clear commitment to executing their stated strategic priorities. These investments are largely directed towards enhancing production capacity, improving operational efficiency, advancing sustainability practices (especially in tailings management and decarbonization), and positioning companies to capitalize on the growing demand for specific minerals, including those critical for the energy transition.

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Spotlight: The 2025 capex plans of Brazil's major miners - BNamericas: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXETJHIh-clUsNlvgGTrfXNRRJwwi1tQk9s2N6X5Wj92aGkyo7rNriLhwToG5GGTBkiL-51X-Uxfa8FJNEeOKAWSt8NqIKNuvdmFHWbN10fKDDQN221svkDn3RwMEK5ffDMxxMDM5ILnplDbc6wasYeiMn5bUxybQEAyYlrfyPqmgzQn5o9qp98DTOdGVJroBBb2uuA=
Anglo American to sell brazilian nickel assets amid major restructuring: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGtHI5v9l06rUkPtTR2ExQdjApVfwIaIPB37xSrDeb8zBUuGl_SDKKE5O_deoBH669WGmZQwe5-nAwXm46Ch1-HL44pFCfPiAAQxgpNibrK6XV7-I_M4BE779x8_jJW_tQHsPgXNJmmeE4nP588U0AtbaCdKtROy54sGBgb5hSoKvz79PXFuKMcubBVqiluDPPuIrpM9ZnDUenHC13ymx8KCTJsCTAvbdAJ_px48Uov2CM9
Vale Lowers 2025 Investment Budget | SMM - News: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXENUqXWDpHJYLyskKZRe0-yqqU26f3vfngfVQhW0linDehCCNcWZBsm_ARbMW3FSY-GH8nZfQA20Tg2DM0swAOC8DiLBTCSntdYStK7dGIacm69sjg4IIm9YEyeo7lEBzkHKMTajVug7710bRLIlTaaeIQs3vbaV1TDGurjJvsp4eRF93WQ
Samarco Plans $1B+ Investment to Expand Iron Ore Output by 2028 - Global Flow Control: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXG_6GkiMg9A9m0Ym1oygWQBItaj0YsLgA3fj0yq539v3JbBpgbgN_8QZkqlFMV6bAGm7CtuWrOZQcTadreKFi4xLIy1lBMiROXZFl3nyC9TmS3_RE-eGR7Jc_lOVQx4AdUoMoZRyuKzcYhwwO24BRCHLc2e7BjakH1GsxVEOV0Pa9jvG3grG3FxNVJyU75kIsnml_fwxlOmJjNYTA==
Brazil's CSN to accelerate investment in P15 iron ore project-Yieh Corp Steel News: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXFcJCEtDDjvUxPyzLnqxZ-3E6be2ScUiPgi6r55_Yjb9E63EWz9SHOcJrGnzL80H8mZZsZdKhK0nmi2blXfa_x2QpKKxbyWE5YXJ_1xotbq5rL3trkxGiMzd8VmTE4L3DNhGq2n2NaZv6pspuVSvV8a3Rl2Gy6PIboaptJqNoncP42IuduqE5NIwb-v_bQ=
Special Issue - 2025 - Brasil Mineral: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXHAhpzyoklfuRFl-sZaNhh-az280AUXWtjiVgsmvXwp4J9K60lELLWdxClofNiL4RxEF13H9_zr7eLe8J1P9HUeTblhEjXR-pALcgP8PSc_HRKsYT3Xz5h53Tf64Pakxmw4krtUvq6oBf5Gq-JTxWbUwHNp7zwFBJuMwwQzzM_A5DFBvJKZWebHQm8RIOqNdFiNuehZ2OY7psShs4w=
Vale's performance in 4Q24 and 2024 - Latibex: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGwFPpRfG-nP-3zm7e3K0KnKkrzc3QxQOQOKoYzI_V5s1h9jdgpCp4sztPPlAmRj9UGv64NjuL0eJ7gQ0Ij4Td5D30EY6tYO81uwfo0d4iZ1IwCeqFeypqNEVmP1fflodRQucajOwJBRrcanGtDHhW5--1cxwWeBYeX2t48ZPn71sS87sDya9c2EOktrcbH6TklbtdA0Hkf-TVh9NIS2ZVlCLKDXg==
Usiminas (USIM5): Em melhor forma para o 1T25E; Revisão do 4T24 - XP Investimentos: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGfGE2S3N3ug6sJis-4nkY0f5u9ru_ZKxEAcaVCQCP5DdwLoGHIduC9_LPgYWxgLnisIz9J4-UJYzwY4rCTT-7C8geQ-OtGVP7PGNtyXy1m0xLGSvE3CrTRIhxNswZFwXswYxGizQQDsMrSjDDWY7iu22xXJB4CwhfiI7hXK1mKPBVlSx6B_jUeSaDe5VibfpEN8eY7yW_iQMMJlRyAE7eu
Samarco to double iron pellet production capacity by 2025 - Inspenet: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGtMHeWjZXTylVrh8RUIUj4Itfdy-91umno7Ggp2efvUFOJXoJbbcvDcjHEzvuGk7jK-DivpF8jZhxwSCZ9heVSl3UzDS4yMI3hXsMClhrMBaAMkbjsVGlddluIgP3L6gWq1kSK03qvuIE5i1S7MBmJy_Pt9Rh5i9MjlvVBGb6jP38HzEKamzmjFpmK0zcl59HI
Samarco to invest over $1 billion to boost iron ore production-Yieh Corp Steel News: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXEWA8Bfjxa3fPwvu6slWARWFw24uSJAvSEdL_AV4US_RNvNjC5q4-VcdDYfEM-UhMwyjiCcBB-aaP_M7ZPQNL3euaCJ-QkuaXy3N0k6Pu1fjEZWzhvl3EcyFxvBaBgb7zjaPOk-zaA4p6v4UXcCemfnyYBfinRxxj_SaFBGJZ8bgqe49x9X3IGuzAqxsEamXjvdVQ==
Kinross Gold Corporation - SEC.gov: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXFdrVL5HCsDm0h-ONQg1QjFSa51HfiS2SqynwNW8zM5YIXnOOxX5H9cU6MWn2TbDF7wURLk7ArO5j67j2IjMuim-kv1gr-webnWp1w-0JtXqcXWwlku8zzue0SNQrE9i9IjQgo-LlfsmKk61cku2nF_4SQljfwl0xSoJ3jzXLwaUY0HKSAMLN4p8J63u9M=
BRAZIL MINING 2024 - Global Business Reports: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXHRR1ibCDQvuzz8qs4xrvfmHDho4RQ-d52l0AN9JXIO_uCBvrB9PQZDw1RHZfoNJz9MC1yBc5FdWm_ghbHcPXG80XVmLCgpSFQrn4ZIUUEq7twgsVG6WkT8H3s4gD36IBzjbqw7DPJBUNk9_8Z_s4XvxyLF_7rd0ywYz1VKmzBd5aHWrffG
CBMM Driving the Future of Advanced Materials | SFA (Oxford): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGHp0R6Fm4BFKCfCfPsXr5041UDS5B1LDcnjtmY9FEpcZynQzTAdXBVBx3WFJnuQ5ICSbo1LQozKEC5Mou41okZQR5IXQ3ADO0Q7oY4cOoaFvCjLGoqPK18QHCiTTlHZIBYW9rIt5nEVgf7j2S1VAiUluguxxDFMTFyonvSDc9T9JQk602nCQME51_LHiYbkn5YxtMVsMvIsHYUAifXAz_91nXN8cDoDxywJjas12hV
Anglo American Production Report Q1 2025 - 07:00:11 23 Apr 2025 - AAL News article | London Stock Exchange: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXHnSQF6dEmr36jlkYebou3JqtWJnWqVI-G8qAiPqcfCEQypzs5iygffVjwglOv2dv8_jjJta3914pcVytvePy68sQCEnQM_ZlzqcW8mDnBfccvBhuaMYhJ3VAfbil8DMDOsI3Flhk8cxWJF8hXLbIsuZNaUacwMWzROlKQZvsOXUpXFBTgiKTgx9hVrXvm_b8uSv_vaie2wSpWlkRA=
VALE's Recent Movements: Investment Opportunity? - StocksToTrade: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXFVTUguAQE0WHIQM1Fyi9cLvX7ELERqBFnrhDDWFxhgFAYWEPt3zIDVLSpk0Pek52B1_Dns_E5Azx_iULLBIiphnyiPqTH_5AHVwc6SkQU-BQtYxixtiwB4VMGK98dOejKzmODPTv-m6T6pExrg99qwRyg=
Decarbonization strategy and management - Vale: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXHLuf6hQ3spfpbk1yrBq4cglfFSqAE-TtdypQamp_VlIreZz3UCFh01IQxk8eAlqyeIdQmg4whc45op9PtVzrmBPNTwZnOUEBdA6BM_JxWRvB3mrhpuL_Y8E7eUYW94rPaQnEF9IhzENbCFisAf1S_h_3O1O6U=
Samarco Mineração SA to Invest Over US$1B to Revive Iron Ore Operations - The Assay: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXH5QsdIuZAiOh1RhlqFJ3IKOB14PO-xneWhRtcCKvrlGTJ2Y_0EqOemKJFCgYvhkjwMfHSCdW6Q4j5agKItgAQ4ORGfUfqv8dIHWma9pHAJG6MYSQpTTmA3ex9R0-xWZN5NT9nm6enSFdkb9g0xsJm8gCe_GcWaLlFMipSf7Dgk_IqWky6Av8sJ6g4MOUvX-3c2oFYfEI-RTVG8pDsRF9JeMcyceR9ZjoFg3MiWrQ==
CMIN3 Dividend Stocks: How to Maximize Your Passive Income with CSN Mineração: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXECFXZEUyFviaCk1X2JL2BN6Z-9AmByQeqEFCYy2kNO5paomGIi6F-GkJ7gceOVZ7jovX4x1hY8SEdu2PNZRiOxkhkOqoOsZ0yzeskstPvD82vzxnc3TUKh7MxGqsCTWjWZrcrtpIzMmOIpHZeTIq-Wj_787WD1S7GyhZdgSx4Y4iNVTQre
CSN Mineração (BOVESPA:CMIN3) Stock Forecast & Analyst Predictions - Simply Wall St: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXG4prphQr2HAikZAi8UUFfcUSfIF3w0YwlJBYnFbyrYKeaUZme8Mo-1pz6Az04zxWUEX-WX5jPXtN7qhlpPorgDcd0NXkApRPf0OUS8ywaKRig-mPwSSHV8XoyAIZuJua97mHRUJSTK7y0481aR5HLfF3qP3HeegT-53JtTgU5796mb1ch_Gk-Ipw==
CBMM strikes partnerships to pioneer niobium-bearing battery development - S&P Global: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXEeSdB9aK0xll475zwuBPoJOtzKX2PVsrRbHdrN4-JENih9T1OfsAXnBQx0uaVoLc9BCxWkog9e02F-fNhII4ExnFNjezsmZH63uPZESZEsO7r_od-9Vqvk0JAqkzVIrxRVL7Yp0zd5qxE_0EpMmOLcIy9Fx6REvN4ezfdVUMTNfF3kCsnz9W5u_XpEmMZ3Ek4ynOQ5cWvSYVtSNaIlLoypwMexrsN_FtpkAI0jbqDuzXb1afhCRT32o2HjuOPWHEswOYDThQom5b4Yecbj8p5HUW7tjKrq
Usiminas (USIM5) | Prévia 4T24: Mineração melhor, aço pior | Genial Analisa: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXE8xgL6oa4W1B3Y6ACD00g5JrHaX72-06McdXTgDLch6olYHMGQ8cXTWH-4VYUNPvB0cF-me0SdspPSxJccb58ZWBgVQDJ9-3VK7kd0gNPnU8tM9BlJNxqcWzLaPyb3mtMaUXFSBnGulKge_-ZDPqpAFz2ONMlOcfE2M0bPG94I5Bl8k7EWjL731KGqN6Sj5eM75PzYThhvPt1OggnRURDHD_HIwiM=
Press Release Q3 2024 - Exhibit 99.1: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXG5JVKU18d3_yoOsi52lrY1TMw2K9vUKjZzo2Oyax95e5LXFY1tvOG3qAHAKhkY9CXHCd6zkM5agMamISn27luPxubJXkxVqxWkd0HE12fYOrUs6INt900ptDE3eVI5_5WJQqpPDjkTeoeo6XMorhUiUddEkWt2e0N36Hm4E7uFcLv447aw96d0V0g_p6y4eY863NMMSKZnyH_OdQ==
Usiminas (USIM5) planeja investimento de até R$1,6 bilhão para 2025 - BPMoney: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGk29eBRTjSJaA865x7ylF4SY9S33vj9azi50F9s3CB0DapcJJEoZ5T-1qlqFlZYt-rA_G_mtfLMnQdYg2YBhVKC5dbrtVW5YOyBUd42-bboJuIrSrBsiN0bTPuxvIVZjfXtedMY4XtfxNVNAGG4DELDesmkJ3bD1lkVTdUM6G-0Zs84ss8LV_xVrMOv3VOMwwQ0SmlPaD-G-aYRaZ9U8E=
Usiminas (USIM5) reverte lucro e tem prejuízo de R$ 117 mi no 4º tri: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXE049UTM9o8FdKrt-7OWuvcr9UX8k4j79E2flfS6UW8RkImBrCwcohuvAXChN512tQEA2tBve2celecY1cLAAQm_d8QKpOs5NutQeT0wfCHftf-Lekc-0S54M-5YsSXMdzjz5XkIUQkZIfNXbs3ReDylfp7npSF9-gX7gBTgBo_pcLdtkBee3NMGvdKUAYRHrdGF6m4pxwTLR9rScTzUyGTVGa2bl_4iMZ6nOXY
The Mosaic Company - Mining Data Online: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXGXubnZmwYR3ASOolrTvLlJPR5OSrmk-VufvL3Pevee8szPT6e5GOJL0TjpIL7duLD0pThksLiZJY5s257Te6z9LJjF_dBjSE6jL3NfrWx5wGFQ0sd1zhvdL144W2WEE-ebs4tpcJ0EQizPNrs=
Mosaic Sells Brazilian Phosphate Mine in $125 Million Deal - ChemAnalyst: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXHXIYAr9tln7hPtxt7QTlmHaZrfWrlzDVlwQ453Vc_gaR6qMOHrfNDtsj0_HWFFben7Nd4lY2eyx7_JQsiHnZ-M9e1QpnmiwyM0KVF_bDNJU2DFhr0h1Dbn-YhcpEmzEppf7PiBLmAnHJOUfZMsA0OseTeAMWKC7P7qZ_IOn_z1NxEMobVbngzxmBBI2wQMfdVvIsf2ClVlnPVv3qcL-Z5_ec8D7iNI-0pa2w==
Usiminas (USIM5) reverte lucro e tem prejuízo de R$ 117 mi no 4º tri: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AbF9wXE049UTM9o8FdKrt-7OWuvcr9UX8k4j79E2flfS6UW8RkImBrCwcohuvAXChN512tQEA2tBve2celecY1cLAAQm_d8QKpOs5NutQeT0wfCHftf-Lekc-0S54M-5YsSXMdzjz5XkIUQkZIfNXbs3ReDylfp7npSF9-gX7gBTgBo_pcLdtkBee3NMGvdKUAYRHrdGF6m4pxwTLR9rScTzUyGTVGa2bl_4iMZ6nOXY