Overview
- President Luiz Inácio Lula da Silva said on May 22 that Brazil will not repeat the iron‑ore model of selling raw materials and will only talk with partners willing to industrialize rare‑earth processing inside the country.
- The Chamber of Deputies has approved a National Policy for Critical Minerals that creates a guarantor fund of up to R$5 billion and establishes CIMCE to review strategic operations and block deals that threaten sovereignty.
- The Planalto has proposed a national fund to manage mineral revenues and ordered expanded geologic mapping while PT members are debating creation of a state company called Terrabras to lead exploration and processing.
- Presidential pre‑candidate Renan Santos on May 22 pressed for domestic processing and alleged a lobby involving the Centrão and some companies is trying to weaken industrial counterparty obligations in the bill.
- Brazil’s status as holder of one of the world’s largest rare‑earth deposits makes these decisions crucial for jobs and high‑tech investment and will shape upcoming negotiations with the United States, Europe and private firms.