Brazilian Senate to Review National Policy for Critical and Strategic Minerals to Boost Domestic Industry
The Brazilian Senate to evaluate a key bill establishing a policy to promote domestic mining and processing of critical and strategic minerals, with significant funding and incentives.
- • Brazilian Senate to review National Policy for Critical and Strategic Minerals bill (PL 2780/2024).
- • The policy creates a Mineral Activity Guarantee Fund with up to R$ 2 billion funding.
- • R$ 5 billion in tax credits proposed for domestic mineral processing over five years.
- • Regulation for urban mining and a national network for research and training included in the proposal.
Key details
The Brazilian Senate is set to analyze a legislative proposal aimed at establishing the National Policy for Critical and Strategic Minerals (PL 2780/2024). This bill, already approved by the Chamber of Deputies, seeks to transition Brazil from merely exporting essential minerals to developing a full domestic mining, processing, and industrialization chain.
Central to the proposal is the creation of a Mineral Activity Guarantee Fund, which will be financed by the public budget up to R$ 2 billion and contributions from mining companies' gross operational revenues. Additionally, the bill provides R$ 5 billion in tax credits over five years to incentivize processing of critical minerals within Brazil. The policy also sets regulations for urban mining to recover strategic materials from electronic waste and envisions a National Council to oversee industrial policies related to these minerals.
Senator Rogério Carvalho emphasized the importance of producing and transforming minerals domestically to generate wealth and industrial growth, moving Brazil beyond a raw material supplier position.
The policy aims to support minerals crucial for modern technologies, including medical equipment, nuclear plants, and smartphones. It also includes developing a national research and professional training network to strengthen Brazil's capabilities in this sector.
This legislative development coincides with President Lula's broader push to attract foreign investment and technology partnerships from multiple countries, signaling governmental commitment to fostering technological advancement and economic diversification through strategic industrial policies.
This article was translated and synthesized from Brazilian sources, providing English-speaking readers with local perspectives.
