Brazil eyeing larger rare earths role
Oct 04, 2012 | 12:56 PM
| Carolina Guerra
Tags
rare earths,
MBAC Fertilizer,
Antenor Silva,
World Mineral Resources,
João Carlos Cavalcanti,
Anglo American,
Vale,
MBAC Fertilizer
Carolina Guerra
SÃO PAULO — Brazil wants to become a larger player in the rare earths market, currently dominated by China.
Legislation for rare earths exploration is under discussion in Brazil, and a chapter will be included in the next edition of the country’s mining code.
Some companies are already investing in the field. There were 164 exploration requests registered by Brazil’s national department of mineral production (DNPM) in the first five months of this year, according to O Estado de S. Paulo. Five years ago, there were practically no new projects.
Toronto-based MBAC Fertilizer Corp., for instance, announced that it would start exploration for rare earth metals, along with phosphate, in Minas Gerais state. Pre-feasibility studies are expected to be completed by the second quarter of 2013. Its investment for the first stage is estimated at $406 million, and another $214.4 million has been earmarked for expansion.....
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