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Mining company Meteoric Resources has announced a billion-dollar investment in a megaproject in Poços de Caldas. The megaproject promises to transform Brazil into a leader in the exploration of rare earths, essential resources for cutting-edge technologies.
Minas Gerais stands out in “21st century gold rush”, as rare earths have been called, with three large projects totaling R$4,6 billion. The main megaproject is that of the mining company Meteoric Resources, which will receive an investment of R$1 billion in Poços de Caldas, where Viridis is also planning another project worth R$1,2 billion. Other investments include R$2,4 billion by the Brazilian company Terra Brasil and R$800 million by Mineração Serra Verde.
All about the investment in the rare earth megaproject on Brazilian soil
According to Marcelo Carvalho, executive director of the mining company Meteoric Resources, in a seminar at the end of October 2023, Brazil has the potential to supply 10% to 15% of the global rare earth market in the next ten years.
The mining company announced investments of R$1 billion over three years in the Poço de Caldas MegaProject and will have as its neighbor the Australian Viridis Mining and Minerals, which has just purchased research and exploration rights in the city.
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The announcement of the implementation of the Meteoric company was made in August of last year by Governor Romeu Zema, with the presence of Mayor Sérgio Azevedo, the company's directors and representatives of the Australian government.
A rare earth exploration in Brazil promises to be more profitable than in China, world leader in this type of mining. According to information from O Globo, the expectation is to extract 2,5 to 3 kg of rare earths per ton of clay, while in China, this ratio is 800g to 1 kg for each ton of clay.
MegaProject in Poço de Caldas will create thousands of new jobs
The clay from which the minerals are extracted is called ionic clay, in soils where, millions of years ago, volcanoes existed, such as in Poços de Caldas. In addition to rare earths, another legacy in the city is the sulfurous waters, which attract tourists from all over the country for their various medicinal and aesthetic treatments.
Brazil has the potential to meet 10 to 15% of global demand over the next ten years. The O Globo article also highlights the speech by the municipal secretary of Economic Development and Labor, Franco Martins, who predicts a 50% increase in the municipality's revenue over the next ten years and also the arrival of new companies in the region.
As previously mentioned, the investment by the mining company Meteoric Resources in the MegaProject will be R$1,18 billion in the ionic clay extraction project. The expectation is to generate 700 jobs and, according to information from the company, the investment includes 51 mining processes and the company should begin extracting ionic clay in 2027. According to the government of Minas Gerais, the company is in the initial phases of studies and surveys in the area and expects to start operating the production plant by 2026.
A little more about the other project in Poços de Caldas
Meanwhile, Australia's Viridis Mineração e Minerais will invest R$1,35 billion in the installation of a megaproject that aims to explore rare earths in Poços de Caldas, in the south of Minas Gerais. The estimate is to generate around 120 permanent jobs. According to initial studies, the region has large volumes of resources and the highest levels of rare earth elements (REEs) in the world.
The investment protocol between the government and the company was signed last year in the municipality. According to the state government, the project involves the construction of a mineral processing and treatment plant in Poços de Caldas.
In addition to the generation of empregos, the project will add value to the product and enhance the attraction of other companies that use these elements as raw materials for products.
What about the environment? Will anything survive, or is it just money? Job creation is minimal relative to the scale of extraction.
…and what about the environmental degradation that these mining companies are already causing? What will environmental investments be like to recover this degradation?
Mega financiers can do anything, for them there are no environmental barriers.
The current government, placed in this position by the globalists, is handing Brazil over.
Shame! Brazil has the conditions to have its own mining companies here, instead it lets mining companies from other countries mine here, this is shameful, send them to mine in Australia, Australians ****! Meanwhile you set fire to the small Brazilian miners
What a shame!
The worst part is that if environmental disasters occur, companies will do the same as Vale. They delay in paying compensation and leave the environmental liability. Could someone tell me if Vale was obliged to recover the waste carried by the dam collapse? It would certainly have to pay more than 3 billion for this to happen.
Brazil is given over to flies and parasites, they talk about job creation, how many jobs are these foreign companies creating in the Amazon, they take everything from our rich soil and then leave only misery for the people... when Portugal was here in 1500 it was like this and until now we are third world!!!! Regrettable.