Brazil Rare Earths Draw 18 Foreign Firms, 3 From US
At least 18 foreign companies, three of them American, are chasing Brazil rare earths with over US$3.5 billion spent or planned, Folha reports. The post Brazil Rare Earths Draw 18 Foreign Firms, 3 From US appeared first on The Rio Times .
At least 18 foreign firms, including three American companies, are pursuing Brazil's rare earths market as Western buyers seek alternatives to China. The total amount invested or planned is over US$3.5 billion (BRL 17.5 billion), according to the São Paulo daily Folha de S.Paulo. USA Rare Earth, a Nasdaq-listed company, owns Brazil's first producing rare earths mine and recently combined with Serra Verde Group.
Serra Verde's mine in Minaçu, Goiás, has begun production and aims to extract 4,000 tonnes of rare earth oxides per year by the end of 2026. Other American investors include Lynas Rare Earths, which plans to buy Meteoric Resources, and Aclara, whose project in Goiás estimates US$781 million in investment. Australian companies have the highest number of ventures, with at least 11 firms involved.
Canadian and US firms also have three each active in the market. Brazil's government aims to process rare earths within the country, potentially leading to new separation and metal-making facilities. However, policy risk remains a factor, and the effectiveness of the new critical minerals law remains to be seen.
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