Brazil Senate Approves $2B Incentives for Critical Minerals Policy

Brazil's Senate approved a national policy for critical and strategic minerals, allocating up to R$2 billion in incentives for the FGAM fund and R$5 billion in tax credits (capped at R$1 billion annually from 2030-2034). The policy aims to boost domestic mining and processing of minerals essential for energy transition and defense. This marks a significant state-level push to secure supply chains, though implementation details and fiscal impact remain to be seen.