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Fiemg carried out an international mission and returned with important contracts signed with Australian mining companies for the exploration of rare earths in Brazil. This partnership could transform the country into a global powerhouse in the export of these valuable resources, which are essential for the technology and energy industries.
A Federation of Industries of the State of Minas Gerais (FIEMG) concluded its tour with agreements signed with Australian mining companies worth around R$2,5 billion. The entity signed a memorandum of understanding with St. George Mining Limited for an investment of R$2 billion in the Araxá Project, focused on the exploration of rare earths in the Alto Paranaíba region.
Brazil will have three projects focused on the exploration of rare earths
The second agreement with Australian mining companies was closed with Perpetual Resources and involves a investment of R$400 million for 3 rare earth, lithium and tin exploration projects in the South of Minas Gerais and in the Jequitinhonha Valley.
In addition to the memorandums signed for rare earth exploration, Fiemg also entered into a partnership with three other Australian mining companies to share the Brazilian laboratory for the production of earth magnets. The facility is the only one in the southern hemisphere.
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The president of Fiemg, Flavio Roscoe, celebrated the investment agreements that will bring resources to the mining sector in Minas Gerais, but highlighted that one of the main achievements of the excursion were the contracts to share the laboratory with Australian mining companies.
According to the executive, the presentation of the facility to foreign companies and the exchange of knowledge can leverage Brazil as a future player in the export of rare earth magnets, one of the most valuable products in the world due to its application in electronic equipment.
Fiemg highlights Brazil as a major producer
Rare earths are difficult to extract minerals that have peculiar characteristics, such as intense magnetism and light absorption and emission. These special properties make these minerals used in various technological applications, such as painéis solares, electric car engines, wind towers, airplanes and military equipment.
From the ore, it is possible to develop a magnet that has fundamental properties for the electrical and electronic sector.
Rare metals are already valuable in themselves, and Brazil combines access to minerals with laboratory technology. However, magnets will become even more valuable starting next year. In 2025, China will stop exporting magnets made from rare metals and will only export finished products. The decision has caused global chaos, as the Asian country is responsible for more than 90% of magnet production.
With this in mind, the Fiemg executive sees an opportunity for Brazil to attract investment in rare earth exploration. Roscoe stated that countries have begun to seek alternatives to Chinese magnets and that Brazil has the fundamental qualities to strengthen itself as an exporter and meet part of the global demand. However, to do so, it will be necessary to advance in areas such as the reduction of bureaucracy in environmental licenses.
Australian mining companies interested in Brazilian lithium
According to Roscoe, the country has found large reserves of rare earths. There is a window of opportunity and it is that old debate whether Brazil will demand to seize this window or not. If the environment does not delay everything because these are projects with very low environmental impact, but in Brazil things are complex. The company has the opportunity to supply the most desired product in the world.
The executive also states that Australian mining companies were very interested in the Brazilian model for extracting lithium, a mineral that is essential for the production of batteries. Roscoe says that Australian mining companies were impressed by the sustainability of the Brazilian process and see the possibility of scaling up production in the country.
ExplodirMining of minerals reminds me of catastrophe and environmental destruction, I don't know why.
They are going to destroy the drinking water in our country. These mining companies use liters and liters of water every hour. They are going to destroy Nature.
Brazil will never stop being a “colony”. Our rulers, I’m not talking about political parties A or B, I’m talking about everyone who has ever governed Brazil and the current government doesn’t care about the population, our reserves, our environment. Our trees are being cut down, our **** riches have been taken away… We end up with only the rest at an exorbitant price. People who live near these mining areas are living precariously and acquiring incurable diseases like cancer. This situation is very sad 😢. As long as our rulers continue to act like this, soon Minas Gerais will no longer be a habitable place, not to mention our North region where most of the rivers and lakes are already contaminated with heavy metals and no company or mining company is held responsible for so much misery and devastation.
Brilliant opportunities
2,5 billion?
Big ****, in 2023 alone the government failed to collect 16 billion under the Rouanet law alone.
And since our steel industry has been dismantled, there will be foreign investment as well.
EEE Brazil colony.
And the wealth of Minas Gerais and Brazil continues to leave the country in contracts that aim to enrich those who are already millionaires, to the detriment of the “savoir faire” of Brazilians.