Brazil's Chamber Approves National Critical Minerals Policy

The Brazilian Chamber of Deputies passed the National Policy for Critical and Strategic Minerals, outlined in Bill 2780/24. The legislation creates the Mineral Activity Guarantee Fund (FGAM) with a R$2 billion federal contribution and authorises up to R$5 billion in tax credits over five years to support mineral beneficiation and transformation projects in Brazil. Companies involved in mining will contribute 0.5 % of their gross operating revenue to the fund, or may direct the amount to a private research fund under future regulations. The policy also allows projects to draw on resources from the National Climate Change Fund via BNDES. The proposal now moves to the Senate for further debate.

The same legislative package includes measures to curb illegal gold trade by requiring traceability through the Brazilian Mint and restricting sales to authorized distributors.