Brazil Proposes Forming State-Run Rare Earths Firm

Brazilian lawmakers have proposed bills to create a state-run company focused on rare earths and critical minerals in the latest push from the South American nation to localize refining and position itself as alternative to top producer China.

A proposal from Congressman Rodrigo Rollemberg would create Terras Raras Brasileiras SA, or Terrabras, and target minerals research, exploration and commercialization. The company would operate similarly to state-controlled oil producer Petrobras and would have a capital structure that could include private companies, development banks and sovereign funds, with the federal government keeping a minimum stake to ensure its control.