Commodities
Brazil Offers $815 Million to Back Strategic Minerals Projects
- BNDES and Finep are behind the move to advance key metals
- Financing expected to generate up to $8 billion in investments
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Brazil is offering about $815 million in financing for projects aimed at boosting development of strategic minerals within the South American nation.
BNDES and government funding agency Finep, earmarked 5 billion reais in financial backing for companies, including credit lines and equity investments. The support can be used to develop supply chains of minerals including lithium, rare earth elements, nickel, graphite and silicon, as well as investments in manufacturing batteries, photo-voltaic cells and magnets used in products such as electric vehicles and wind turbines.