The Senate approved on Wednesday the base text of the bill that creates rules and incentives for the domestic industry in exploring critical minerals, especially the so-called rare earths. The proposal establishes a national policy for the sector and provides for investments of up to R$ 7 billion in incentives for sector projects.
The text was reported by Senator Eduardo Braga (MDB-AM) and underwent no major changes in the House. The senators approved the proposal in a symbolic vote. Braga accepted eight amendments with wording adjustments, six in full and two partially.
The project now goes to presidential sanction. The bill had been approved in May in the Chamber of Deputies, under reporting by Federal Deputy Arnaldo Jardim (Cidadania-SP).
The project's logic provides that whoever adds more value in the country will be "rewarded" with incentives. The goal is for Brazil to not just be an exporter of commodities such as rare earths, minerals coveted by the technology industry.
