Brazil targets rare earth revival as mining council takes shape

More than three years after it was announced, Brazil’s Mining Policy Council has officially been installed, with a renewed focus on critical minerals and rare earths.The Brazilian government formally launched the National Mining Policy Council (Conselho Nacional de Política Mineral – CNPM) last week in a ceremony attended by President Luiz Inácio Lula da Silva.The council was originally established under Decree No. 11,108 of June 29, 2022, but remained inactive until now. It is composed of 18 federal ministers, chaired by Minister of Mines and Energy Alexandre Silveira, along with the CEO of the Brazilian Geological Service (CPRM). Representatives from states, municipalities, civil society, and academic institutions with expertise in mining are also members.At its first meeting, the CNPM set out to update Brazil’s outdated National Mining Plan 2030, originally conceived in 2011. The new version will guide national mining policy and is expected to be released for public consultation in the coming months.President Lula also requested an updated survey of Brazil’s mineral resources, emphasizing the need for a comprehensive and structured national mining policy, something the country currently lacks.One of the meeting’s central topics was the creation of a working group on critical and strategic minerals, aimed at proposing public policies to develop domestic supply chains and craft a national strategy for these resources.The plan includes renewed attention to rare earth elements. Brazil once ranked among the world’s top producers, with output reaching 2,200 metric tons of rare-earth oxide (REO) in 2016, but production has since plummeted to around 20 metric tons in 2024. The decline has been driven by China’s dominant production capacity and pricing influence.A stock trader’s guide to navigating China’s curb on rare earthsThe CNPM has formed four specialized working groups to address key challenges facing the mining sector: Inspection Fees and Financial Charges, Critical and Strategic Minerals, Mining and Sustainable Development, and Oversight of Mining Activities.The final group will analyze inspection mechanisms and the role of the National Mining Agency (ANM).Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com