Brazil Plans Executive Steps to Tighten Control Over Critical Minerals

Overview

• Ministers met with President Lula on Friday to outline administrative actions the executive will pursue even if the Senate does not approve PL 2780/2024.
• The president has created a National Council of Mineral Policy to give mineral governance a ministerial-level forum comparable to the energy council.
• The pending bill, approved by the Chamber of Deputies, would let the Union review or block changes in corporate control, restrict access to geological data, and set a national list and plan for critical minerals.
• Officials say the law would enable financial tools to build domestic processing, including a proposed R$2 billion guarantee fund and up to R$5 billion in tax credits to support beneficiation and industrialization.
• Ministers cited the USA Rare Earth–Serra Verde transaction, which the government learned of through press reports, as a recent example that motivates tighter oversight and will shape what the executive implements next while awaiting the Senate vote.