Brazil Increases Innovation Investment in Mining Sector

Brazil and India announced that the two countries intend to cooperate in the fields of critical minerals and rare earths based on a bilateral agreement signed on February 21. Both sides will work to promote the development of their respective critical minerals and rare earth industries and exchange technologies to strengthen mineral extraction. The President of Brazil pointed out that increasing investment and cooperation in renewable energy and critical minerals is the core focus of this agreement. The Prime Minister of India further added that this agreement is a key measure to build a "resilient supply chain."

Driven by sustained price increases in the domestic Chinese market, the entire rare earth supply chain is experiencing upward pressure across the board. Post-holiday FOB prices have been adjusted as follows: Praseodymium Oxide: USD 143-147/kg​ Neodymium Oxide: USD 172-202/kg​ Dysprosium Oxide: USD 302-352/kg​ Terbium Oxide: USD 1,147-1,237/kg​ Currently, export availability from China has further tightened, placing overseas buyers under mounting pressure.

[Breaking News: Brazil Increases Investment in Mining Innovation] The Brazilian government has launched a plan to invest in innovation in the mining sector. The funding, totaling 200 million reais (equivalent to US$40 million), is jointly established by the Ministry of Science, Technology and Innovation (MCTI) and the Financier of Studies and Projects (Finep), and will be implemented through the "Brazil Innovation and Technology Program." Against the backdrop of growing interest from domestic and overseas investors in projects related to critical minerals, the Brazilian government has introduced this initiative. It is worth noting that many of these projects, particularly rare earth separation projects, still require further investment in R&D.