Brazil, EU race for rare earth elements amid rising global demand

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Rare earth elements power fighter jets, satellites, EVs, and even our smart phones; and technology's fast growth is heating up global demand for them.

During recent industry events, leaders have pointed out that rare earth development is not just about energy transition; it is about energy security.

And that could mean major moves ahead for producers, tech makers, and global markets.

Brazil is sitting on the world’s second-largest rare-earth reserves, just behind China, and it has 27 projects across seven states, with one of them already operational.

Australian companies have invested big in Minas Gerais, which is a Brazilian state named after the mining activity over the last 3 centuries.

In the state of Bahia, drilling shows rare earth oxide levels topping 30%, which means a high-grade concentration of minerals.

But Brazil isn’t alone.

The European Union just approved 13 new strategic mineral projects, complementing a list of 47 initiatives inside and outside its borders. None of them are operational yet, but the plans aim to safeguard the EU’s energy future.

With Brazil ramping up its rare earth projects, Europe racing to diversify, and geopolitical tensions driving urgency, will the increasing supply keep pace with global development and demand?