Cabo Verde Mineração Engages European Investors for $460 Million Rare Earth Project in Brazil
Cabo Verde Mineração is negotiating with European investors to fund a $460 million rare earth industrial plant in Minas Gerais. The company aims to establish a production chain outside of China, responding to global demand for dysprosium and terbium.
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Cabo Verde Mineração is in advanced discussions with European investors for a $460 million industrial rare earth project in Minas Gerais. The company's capital expenditure was revised upward from $360 million, reflecting increased global demand for dysprosium and terbium.
The firm holds 57 mining rights across approximately 91,000 hectares in the region, where reserves of 500 million tons of ionic clays are estimated. The project aims for an annual production of 3,500 tons of MREO carbonate.
Financing is sought from national banks and international players, while maintaining Brazilian governance. Geopolitical factors are influencing funding strategies, as off-take agreements with firms in different countries could pose risks.
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