Melanie Burton and Fabio Teixeira of Reuters report that Brazil is looking to increase rare earth mineral production.
- Brazil holds the worlds third-largest reserves of rare earth minerals and its first rare earth mine, Serra Verde, started commercial production this year.
- With cheap labor, abundant clean energy production through hydropower, and established regulations, Brazil is attracting investment from Western companies.
- One company is Meteoric Resources, an Australian developer, which is targeting an investment decision in late 2025 for its Caldeira project in Brazil’s Minas Gerais state which will produce light and heavy rare earths.
“While labour is cheap, developers face technical hurdles. Unlike in China, many Western companies are still perfecting the complex processes for producing rare earth metals, a costly challenge that has stalled projects for years.”
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