Brazil releases 2050 mining plan, aiming to increase global share of key minerals to 12.2%

The Brazilian Ministry of Mines and Energy officially released the "National Mining Plan 2050," which clarifies the long-term development goals for the industry: by 2050, increase Brazil's share of global critical mineral production from the current 8.3% to 12.2%.

This plan was prepared under the leadership of the Ministry of Mines and Energy. Subsequently, it will only be submitted to the National Mining Policy Council for deliberation and can be implemented and advanced without the Council's approval.

The plan includes several quantitative reform goals: first, to compress the mining permit approval cycle, reducing the current average processing time of 1,563 days to 780 days; second, to reduce external dependence on fertilizer raw materials, lowering the import dependence on phosphate rock and potash from the current 87.3% to 34.9%.

The Brazilian government plans to release a supporting detailed action plan within 180 days, specifying concrete implementation measures to realize the 2050 mining strategy over the next four years.

Rare earths are a key mineral strategically prioritized in this plan and are widely used in various high-end manufacturing sectors. According to statistics from the United States Geological Survey (USGS), Brazil ranks second in the world in rare earth reserves, but its current share of global rare earth production is less than 1%, indicating immense potential for industrial development.