The government launches raw material funds; companies can now apply.
Brazil, rich in natural resources, aims to further capitalize on its wealth. The Brazilian Development Bank (BNDES) and the government agency FINEP, which supports science and technology financing in the country, are providing more than $800 million in project funding. Companies can apply for the program starting January 13. The goal is to establish value chains for lithium, rare earths, nickel, graphite, and silicon, as well as to boost investments in the production of batteries, photovoltaic cells, and permanent magnets. Foreign companies can also participate, but specific requirements apply.
Brazil’s energy sector has relied on renewable sources for decades, with hydropower being particularly significant and, more recently, photovoltaics. Wind energy also holds substantial potential. With the world’s third-largest reserves of rare earths, essential for manufacturing wind turbines, Brazil is well-positioned to tap into this potential. Efforts to build production capacities are already underway.
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