Brazil Proposes Forming State-Run Rare Earths Firm in New Bill

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000A Brazilian lawmaker has proposed a bill 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. The 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.