Power Minerals finds high-grade rare earth deposits in Poços de Caldas

Australian mining company Power Minerals has reported significant drilling results at its Morro do Ferro project in Poços de Caldas, Brazil. Recent drilling (hole MFSR-055) identified a 91-meter interval with an average Total Rare Earth Oxide (TREO) grade of 7.7%. High-grade sections were noted, including a 62-meter stretch with 11.1% TREO and a 2-meter sample reaching 22.6% TREO. The minerals identified, such as neodymium, praseodymium, terbium, and dysprosium, are essential for manufacturing permanent magnets used in electric vehicle motors and turbines.

In parallel, the Poços de Caldas Rare Earth Committee met with the Critical Minerals Association (AMC) to discuss the development of the local critical minerals supply chain. Discussions focused on attracting private investment, the necessity of mineral research—which can take up to ten years—and the importance of government support through tax incentives and financing for the initial exploration phases. The committee aims to balance economic growth and job creation with the overall quality of life for the local population.