Brazil's rare earths won't break China's magnet monopoly before 2032, researchers say

According to Andre Luis Pimenta de Faria, the coordinator of Brazil's primary magnet pilot plant, the country will not be able to manufacture rare earth magnets from local raw materials until after 2032. During a public policy discussion at Exposibram, Brazil's largest mining congress, Faria mentioned that while initial production could occur by late 2028, it would depend on imported materials. He indicated that a full domestic production schedule would stretch from 2032 to 2035. The pilot plant, managed by Senai, relies on Asian processing technology and imports processed ore due to Brazil's inability to process its own resources. Furthermore, Brazil does not produce electrolytic iron, a crucial high-purity component for magnets, despite being a leading exporter of iron ore. Pablo Cesario, CEO of the Brazilian Mining Institute, described even this timeline as optimistic, highlighting an average delay of 17.2 years from proven reserves to initial production in Brazil. He pointed out that this represents a significant long-term challenge, especially as competitors continue to progress, maintaining China's near monopoly on rare earth magnets for the foreseeable future.