Sao Paulo [Brazil], April 22 (ANI): In a significant policy shift aimed at safeguarding national interests, the government of Brazil is advancing plans to strengthen state oversight of its strategic mineral resources. The move follows controversy surrounding the sale of the Serra Verde mining company to a United States-based firm, raising concerns about foreign control over critical assets.

Energy and Mines Minister Alexandre Silveira announced that a comprehensive National Rare Earth Policy will be presented to President Luiz Inacio Lula da Silva on Wednesday. The policy aims to ensure national sovereignty over rare earth elements, key components in high-tech industries and clean energy technologies, as reported by Brasil 247

Central to the proposal is the creation of a National Council for Mineral Policy, a high-level body comprising 16 ministers. The council will be tasked with reviewing and authorising any transactions involving assets deemed strategic, effectively preventing unilateral sales without federal scrutiny. This marks a major shift in mining governance, bringing critical decisions under direct government oversight.

The policy also focuses on boosting domestic industrial capacity. By encouraging local processing of rare earth elements, Brazil aims to reduce its reliance on external markets and move up the value chain. The initiative includes provisions for technological development within the country and mandates technology transfer in international collaborations.

The Pela Ema mine in Goias, one of the few significant sources of heavy rare earth elements outside Asia, has further underscored the importance of the sector. Against the backdrop of intensifying global competition--dominated by China and increasingly contested by the United States--Brazil is seeking to reposition itself as more than just a raw material supplier.

If approved, the policy is expected to form the basis for new legislation, signalling a more assertive state role in managing resources vital to the country's economic and technological future. (ANI)