ILO, 03/12/2012
Background
As a country of continental proportions, Brazil relies on an abundance of natural resources. Although these resources facilitate development, they cannot in themselves reduce social and economic inequalities. During the past decade different governments have established a legal framework that has attracted investors from various countries around the world. Major investments in infrastructure, industry and services have made Brazil an attractive target and boosted the country’s profile in the eyes of the rating agencies.
In the mineral resources field, Brazil occupies the top position among exporters of niobium, iron ore, manganese and bauxite, and also features prominently in the nickel, magnesium, tin and gold markets. The Brazilian oil and gas industry has boomed since the enactment of the Petroleum Law (9478/97) and the regulatory changes to the concession regime approved after the 1995 Amendment to the Federal Constitution, introduced by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). In addition, Brazil has significant potential for development in the electricity field, especially with respect to renewable sources (eg, wind power, hydropower and photovoltaic).
Brazil Portal 
Sometimes countries with an abundance of the most precious natural resources find it difficult to cooperate with other countries whose leaders are against the projects that may threaten the environment as was the case of Barack Obama who refused to approve the construction of the Keystone pipeline. The result is that the Canadian PM is now trying to sell Canada’s oil reserves to China and the US political scene has been divided as a result of this controversial decision for quite a long time.