Brazil Proposes State-Controlled Rare Earths Company

Brazilian lawmakers have proposed a bill to create a state-controlled company focused on rare earths and critical minerals. This comes as the South American nation seeks to localize refining and position itself as a major producer. Federal Deputy Rodrigo Rollemberg proposed the creation of "Terras Raras Brasileiras S.A." (abbreviated as Terrabras), which would be responsible for research, exploration, and commercialization of the minerals. The company would operate similarly to the state-controlled oil producer Petrobras, and its capital structure could include private companies, development banks, and sovereign wealth funds, with the federal government retaining a minimum stake to ensure control.