MELBOURNE/RIO DE JANEIRO ¨C Mining giant Brazil has big ambitions to build a rare earths industry as Western economies push to secure the metals needed for magnets used in green energy and defense and break China¡¯s dominance of the supply chain.
Working to its advantage are low labor costs, clean energy, established regulations and proximity to end markets, including Latin America¡¯s first magnet plant which would provide a ready buyer for the metals.
But low rare earths prices, technical challenges and nervous lenders pose challenges to the Latin American nation¡¯s hopes to propel itself into the world¡¯s top five rare earths producers.
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