Brazil Seeks Critical Minerals Role Ahead of COP30 as Investments Rise and Rules Lag

Overview

• Pará is being positioned as a national linchpin for the energy transition and ranked second among Brazilian states in mineral output in 2024, according to the state’s mining bulletin.
• BNDES and Finep selected 56 projects totaling R$45.8 billion and, with Vale, launched a R$1 billion strategic minerals fund to back junior and mid-tier companies focused on cobalt, copper, lithium, nickel, phosphate and potash.
• Industrial moves are advancing, including Vale’s second nickel furnace now operating at the Onça Puma complex in Pará and Sigma Lithium’s plan to double capacity to 80,000 t LCE by the end of 2026 with a second Greentech plant.
• A national strategy remains incomplete as the critical-minerals bill awaits Congressional approval, the new mineral policy council was only recently created, the ANM lacks staffing and budget, and tax reform details like a selective tax could raise costs.
• Sector leaders are pushing traceability and socioenvironmental safeguards, with proposals for a minerals pact at COP30 and companies such as Centaurus arguing that certified supply chains are key to curbing illegal mining and securing market access.