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Mineral extraction

The central region of the state (where the capital is located) has big reserves of iron (and to a lesser extent, gold) still being actively mined. In mineral production, in 2017, Minas Gerais was the country's largest producer of iron (277 million tons worth R$37.2 billion), gold (29.3 tons worth R$3.6 billion), zinc (400 thousand tons worth R$351 million) and niobium (in the form of hydrochloride) (131 thousand tons worth R$254 million). In addition, Minas Gerais was the second largest producer of bauxite (1.47 million tons at a value of R$105 million), the third of manganese (296 thousand tons worth R$32 million) and fifth of tin (206 tons worth R$4.7 million). There are also deposits of verdete slate, a glauconite -bearing mineral. Minas Gerais had 47.19% of the value of the production of minerals marketed in Brazil (first place), with R$41.7 billion.

The state has the largest production of various precious and semi-precious stones in the country. In aquamarine, Minas Gerais produces the most valuable stones in the world. In diamond, Brazil was the largest diamond producer in the world from 1730 to 1870, mining occurred for the first time in the Serra da Canastra, region of Diamantina, even lowering the price of stone in everyone due to overproduction. Minas Gerais continues to mine diamonds, in addition to having larger or smaller scale productions of agate, emerald, garnet, jasper and sapphire. Topaz and tourmaline stand out. In topaz, Brazil has the most valuable variety in the world, imperial topaz, only produced in Ouro Preto. Furthermore, the country is the world's leading producer of topaz. It's also among the world's largest tourmaline producers.

In the steel industry, Brazilian crude steel production was 32.2 million tons in 2019. Minas Gerais represented 32.3% of the volume produced in the period, with 10,408 million tons, being the largest steel center. Among the steel companies in Minas Gerais are Usiminas, ArcelorMittal Aços Longos (formerly Belgo Mineira), Açominas (belonging to Gerdau), Vallourec & Mannesmann and Aperam South America.