BRAZIL · MINING
Key Facts
- —What happened Folha counts at least 18 foreign firms pursuing Brazil rare earths.
- —The money More than US$3.5 billion (BRL 17.5 billion) spent or planned.
- —Who Australia has at least 11 firms; Canada and the US three each.
- —US stake Nasdaq-listed USA Rare Earth now owns the Serra Verde mine.
- —Why it matters Buyers want rare earths supply outside China, the global leader.
- —Still open Much of the money still depends on licences, financing and viability.
Australian, Canadian and American miners are lining up for Brazil’s rare earths as Western buyers seek supply outside China.
At least 18 foreign companies are now pursuing Brazil rare earths, with more than US$3.5 billion (BRL 17.5 billion) spent or planned. The count was published by the São Paulo daily Folha de S.Paulo on Saturday evening, 10 October.
Three of the 18 groups are American, including Nasdaq-listed USA Rare Earth, which owns Brazil’s first producing rare earths mine. Rare earths feed the magnets in electric cars, wind turbines and defence systems.
What the Brazil Rare Earths Count Shows
Folha cross-checked records of the National Mining Agency (ANM), Brazil’s mining regulator, with company filings, technical studies and press releases. It found at least 18 international groups with active mining processes to research or extract rare earths.
Australia accounts for at least 11 of them. Canada and the United States have three each, and one company is registered in the Marshall Islands.
The combined figure mixes money already invested with early estimates for building mines. Projects range from early drilling in six states to pilot plants and one commercial mine.
The US Company Already Mining in Brazil
USA Rare Earth (Nasdaq: USAR) completed its combination with Serra Verde Group on Thursday, 3 September, its release says. Serra Verde runs the mine in Minaçu, Goiás, the most advanced rare earths operation in Brazil.
According to the company’s release, production began in January 2024. Its first stage targets about 4,000 tonnes a year of rare earth oxides by the end of 2026.
Folha, citing USA Rare Earth, said the mine has drawn more than US$1 billion in investment.
Serra Verde told Folha that Brazil “remains a possible option” for a future separation plant.
Australian and Canadian Projects
The latest deal is Australian. Lynas Rare Earths told the Australian stock exchange on 1 October that it will buy Meteoric Resources in an all-share deal.
Folha valued the deal at BRL 3.5 billion (about US$700 million). Lynas calls Meteoric’s Caldeira project in Minas Gerais the largest known ionic clay rare earths resource outside China.
Canada’s Aclara estimates US$781 million for its project in Nova Roma, Goiás, and runs a pilot plant near Goiânia. It plans to separate the elements and make metals at its own facilities in the United States.
Australia’s Brazilian Rare Earths plans US$969 million for its Monte Alto–Camaçari project in Bahia.
Brasília Wants Processing at Home
President Luiz Inácio Lula da Silva of the left-wing Workers’ Party signed a National Policy on Critical and Strategic Minerals in September. The government wants separation and metal-making to happen in Brazil, not only mining.
The law allows a guarantee fund with up to BRL 2 billion (about US$400 million) of federal money. It also provides up to BRL 1 billion (about US$200 million) a year in tax credits from 2030 to 2034.
The Ministry of Mines and Energy told Folha that foreign investors “are already responding” to the policy. Conversions use Folha’s US$ figures or about BRL 5.0 per US$.
What It Means for You
For US investors, Brazil is emerging as a supply source in the push to reduce reliance on China for magnet metals. USA Rare Earth and Aclara give American shareholders and plants direct exposure to Brazilian ore.
The catch is policy risk. Brazil wants more processing at home, which could shape where future separation plants are built.
What Is Not Known
The names of all 18 companies were published only in an interactive map and could not be checked one by one. The split between money already spent and early estimates is also not given.
It is not known how the new law’s regulations will treat exports of concentrate. Where any new separation plant will be built is also open.
What Comes Next
The government still has to issue regulations for the critical minerals law. Brazilian Rare Earths expects its chemical treatment and separation stage in 2027.
The count does not mean US$3.5 billion of mines will be built.
Frequently Asked Questions
How many foreign firms are chasing Brazil rare earths?
At least 18, according to a Folha de S.Paulo count published on 10 October. Australia has at least 11, while Canada and the United States have three each.
How much money is involved?
More than US$3.5 billion (BRL 17.5 billion), mixing past investment and early estimates. Much of it still depends on licences and financing.
Where are the projects?
The most advanced are in Minas Gerais, Goiás and Bahia, with exploration also in Amazonas, Tocantins and Piauí.
Does a US company mine rare earths in Brazil?
Yes. Nasdaq-listed USA Rare Earth completed its combination with Serra Verde, which runs a producing mine in Goiás, on 3 September.
Sources: USA Rare Earth release of 4 September 2026 (SEC filing), “USA Rare Earth Completes Combination with Serra Verde Group”; Lynas Rare Earths and Meteoric Resources, ASX announcement; Folha de S.Paulo (all accessed 11 October 2026).
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