Brazil Delays Critical Minerals Bill as Relator Shifts Report to May 4

Overview

• Relator Arnaldo Jardim, responding to a government request on Wednesday, postponed his formal report on the critical minerals framework to May 4, which pushed off the planned Chamber vote.
• The central fight is whether to set up TerraBrás, a state operator with a production-sharing model, or keep a market-focused policy that offers incentives without changing Brazil’s concession regime.
• Jardim says he will not include TerraBrás, while the Planalto presses for changes as Lula convened ministers on Wednesday to align a single position before negotiations resume.
• Jardim’s draft keeps the exploitation rules intact but establishes a national policy and committee, speeds environmental licensing, prioritizes projects, opens access to credit and tax breaks, and requires large firms to invest in research.
• Urgency has grown after USA Rare Earth moved to buy Serra Verde in Goiás, one of the few large rare-earth producers outside Asia, sharpening concerns over sovereignty and whether Brazil can build processing and higher-value jobs at home.