Rare-Earth Startups Eye Slice of $1 Billion Bounty From Brazil
Mineral explorers hoping to tap into surging demand for rare earths are vying for a slice of nearly $1 billion in Brazilian funding to help make their projects a reality in a nation with the biggest reserves after China.
Brazil is set to unveil on Thursday a shortlist of strategic minerals projects eligible for financial support from its development bank BNDES and government funding agency Finep. The state-owned entities have spent weeks sifting through 124 pitches for initiatives totaling $15 billion, including many by firms seeking to churn out rare earths used in magnets, batteries and high-tech gear.
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