The Brazilian mining association, or Ibram, has signed a memorandum of understanding (MoU) with the TSX and TSX-V to establish a relationship to increase investment in the Brazilian mining sector in the coming years.

The organisations will work together to increase the number of Brazilian mining companies on the exchanges and jointly identify opportunities to boost the investment attractiveness of the Brazilian mining sector.

In a statement announcing the agreement, Ibram said it would be tasked with identifying attractive projects and investment opportunities in the Brazilian mineral sector.

“We expect this MoU to be mutually beneficial to Canadian investors and Brazil, and it is our goal to see Canada and other countries recognise 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 TSX-V will boost geological research, which is vital to increasing Brazilian mineral production,” commented Ibram president Wilson Brumer, who is a signatory of the agreement.

Ibram expects the value of investments in the Brazilian mining sector to grow to $32.5-billion in 2020 to 2024. This is an 18% expected jump in investments, compared with the forecast for 2019 to 2023.

The Canadian exchanges have more than 35 companies on their markets with about 100 properties in Brazil.

Meanwhile, the TMX Group said that its equity exchanges would host government delegations from a number of countries at the Prospectors and Developers Association of Canada (PDAC) convention, under way in Toronto.

Together, the TSX and TSX-V are the world's leading listing and public capital raising venue for mining companies. The exchanges are home to 1 138 mining issuers with a combined market capitalisation of almost $380-billion. TSX and TSX-V mining companies completed 1 266 mining financing transactions in 2019, representing about 48% of the total public mining financing activity globally.