Brazil Minerals, Inc. (the "Company" or "Brazil Minerals") announced today that it now has rare earths areas comprising three mineral rights totaling 12,528 acres in Brazil. Two mineral rights are in the state of Goiás and one mineral right is in the state of Tocantins. Brazil is one of only very few countries where rare earths are known to occur in concentrations allowing economic recovery.
Mr. Areli Nogueira, geological engineer of the project, stated:
This is a highly promising situation for Brazil Minerals. Of particular importance is the fact that we have strong indications that our Rare Earths Project contains the more sought-after heavy rare earths elements which are less commonly found.”
The term “rare earths” denotes a group of seventeen minerals which are needed in small amounts but essential in several high-technology applications including electric vehicles and military hardware. “Heavy” rare earths are a sub-group of these elements which include Gadolinium and Yttrium, among others. Brazil Minerals’ rare earths project claims and areas nearby have had prior studies performed by researchers from both the Brazilian Geological Service and a private university.
China appears to control the vast majority of the world’s supply of rare earths according to multiple news media articles that appeared recently, some of which also spoke of possible shortages in a trade war scenario between that country and the United States.
Marc Fogassa, CEO of the Company, commented:
This news is extremely relevant. Due to an aggressive push that we implemented throughout this year, Brazil Minerals now has projects in both lithium and rare earths. These are all highly strategic minerals, and each of these projects alone is transformational and could catapult us to a new level.”