BRAZIL · NICKEL
Key Facts
- What happened On 5 November Brazil’s critical minerals council placed nickel in Class I, the highest priority tier.
- Output Brazil produced 72,398 tonnes of nickel in 2023, about 1.9% of world output; Indonesia produced 54%.
- Reserves Brazil declared about 9 million tonnes of nickel reserves in 2023, around 7% of the world total.
- Exports Nickel products earned US$1.2 billion in 2023; China, Finland and the United States were top buyers.
- What changes Nickel projects can now seek state guarantees, credit and tax incentives under Brazil’s new mining policy.
- Power Index Brazil ranks 1st of 14 in The Rio Times Latin America Power Index, with 74.2 points (November 2026 edition).
Brazil put nickel in its highest priority tier on Thursday 5 November, making it one of nine minerals first in line for state support. The ranking comes from a new national council that picked 27 critical minerals.
Brazil is a small nickel miner with large reserves, and it wants to process more of the metal at home. The top-tier label opens the door to state guarantees, credit and tax incentives for nickel projects.
What Brazil Decided for Nickel
The National Council for the Industrialization of Critical and Strategic Minerals approved a list of 27 minerals at its first full meeting. Nickel sits in Class I with rare earths, graphite, lithium, cobalt, copper, manganese, silicon and uranium.
Class I minerals are those where state action matters most for national interest, risk or opportunity. Projects need to be in these minerals and in a national registry to receive support under the new mining policy.
Brazil’s Nickel in Numbers
Brazil produced 72,398 tonnes of contained nickel in 2023, up 13.0% from 2022, according to the National Mining Agency. That was about 1.9% of the 3.75 million tonnes mined worldwide, while Indonesia produced 2.03 million tonnes, or 54.1%.
Brazil declared about 9 million tonnes of nickel reserves to the agency in 2023, around 6.9% of the world total. Only Indonesia and Australia hold larger reserves, with 55 million and 24 million tonnes.
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What Brazil Sells and to Whom
Brazil’s nickel exports totaled US$1.2 billion in 2023, down 23.4% from 2022, and 79.3% of that came from processed products. Ferronickel was the main item at US$855.4 million, while raw ore and concentrates brought in US$244.5 million.
By value, China took 23.8% of the exports, Finland 15.1% and the United States 9.6%. Brazil also imported US$509.4 million of nickel products, led by the United States at 18.7%.
In Plain English, Who Is Who
Ferronickel is an iron and nickel alloy used mainly to make stainless steel, and it is Brazil’s biggest nickel export. Mining ore and concentrate are the raw forms that the new policy wants to turn into higher-value products at home.
Alexandre Silveira, the Mines and Energy Minister, said the policy will end Brazil’s role as a mere exporter of raw materials. The National Mining Agency, known as ANM, keeps its powers to license and inspect mines.
What It Means for You
The United States buys nearly one tenth of Brazil’s nickel exports by value and is also Brazil’s largest source of imported nickel products. US battery and steel buyers get a signal that Brazil wants more processing on its own soil.
Indonesia dominates world supply with 54% of output, so Brazil’s reserves matter to buyers looking for other sources. Class I signals where state money goes first, and investors can compare it with Vale’s recent copper and nickel earnings.
What Is Not Known
None of the official notices of 5 November announces any limit on raw nickel exports. The Development, Industry, Trade and Services Ministry has 15 days to propose priority production chains, which will show whether nickel gets specific targets.
Which nickel projects will receive guarantees first, and how much, is not yet public. The council approves projects under its September decree, so its coming meetings will show the order.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
Why is nickel in Brazil’s top priority tier?
The council ranked minerals by geopolitical risk, supply concentration, ease of substitution, Brazil’s place in the supply chain and import dependence. Nickel landed in Class I, the highest tier.
How much nickel does Brazil produce?
Brazil produced 72,398 tonnes of contained nickel in 2023, about 1.9% of world output. Indonesia produced 54% of the world total.
Does Brazil ban nickel exports?
No ban appears in the official notices of 5 November. The council’s decision sets priorities for state support instead.
How much nickel does Brazil sell to the United States?
The United States took 9.6% of Brazil’s nickel export value in 2023. Nickel products were worth US$1.2 billion in total exports.
Sources: Ministry of Mines and Energy, release on the council’s list of critical and strategic minerals, 5 November 2026; Civil House of the Presidency, release on the approved list, 5 November 2026; National Mining Agency, Brazilian Mineral Summary 2024, nickel chapter (2023 data), 2024.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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