According to the BNAmericas website, as the global trade war escalates, Brazilian rare earth companies believe they are facing opportunities.
Valdir Farias, CEO of the mining consulting firm Fioito, stated that besides rare earths, Brazil's other critical minerals also face opportunities.
Farias mentioned that global rare earth demand will significantly increase in the future, especially in high-tech, permanent magnets, batteries, and motors.
Rare earth companies exploring and developing in Brazil agree with this view and report smooth progress in their projects.
"The scale and quality of the Caldeira project enable us to provide short-term, sustainable, and long-term rare earth products to the global supply chain. We have the capability to supply large and diversified products to the global supply chain, focusing on maximizing resource utilization to meet the growing rare earth demand," said Stuart Gale, Managing Director of the Australian junior exploration company Meteoric Resources.
The company is advancing the exploration and development of the Caldeira rare earth project in Minas Gerais, Brazil. A recent study showed that, under baseline conditions, the project contains 1.9 million mt of rare earth oxides and requires an investment of $297 million.
Similarly, another Australian company, Viridis Mining & Minerals, is also exploring and developing the Colossus rare earth project in Minas Gerais. Colossus is expected to require an investment of $287 million.
Viridis Mining & Minerals stated, "Colossus is an ion-adsorption type rare earth mine, with the highest dysprosium and terbium grades among similar deposits globally, capable of delivering good economic and ESG performance despite the current low rare earth prices. The project has unique advantages and can address the global supply-demand gap for rare earths."
The Brazilian Mining Association (Ibram) expects that rare earth projects will bring $2.17 billion in investments to Brazil from 2025-29, a 49% increase from the forecast for 2024-28.
