Foreign companies have confidence in Brazil market of Rare earth

Foreign companies have confidence in Brazil market of Rare earth

Brazil will be a new producer and exporter of rare earth in the world, dozens of foreign companies go to Brazil discuss on investing exploitation in rare earth.

Now Brazil have ascertained rare earth approx 40,000 tons, mainly located in Minas Gerais state. The Economic Growth Hall people stated that dozens of foreign companies went to the State Government to know more and discuss over the investment projects.

This June, Canada MBAC Corporation signs investment protocol with Minas state government to explored and exploit rare earth in A.Lhasa area. CEO of Brazil CBMM Corporation Tadehu declared to invest machining technology in exploiting 4 kinds of rare earth. Lack of machining technology is now the biggest obstruction to restrict exploiting and selling of rare earth in the state.

Price of the rare earth in international market is soaring, from $5,000/ton in 2000 up $150,000/ton last year. So, for the stimulation of rare earth trade, more and more companies will apply for exploration and exploitation qualification to Brazil Mining Industry Management.

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