Brazil, a global powerhouse in iron ore production, is looking to increasing output of mining products associated with the energy transition and efforts include financing options for such projects.
Mining stakeholders are in the process of creating a stock exchange to attract investors interested in early stage projects, mostly for lithium, nickel and copper, which are in high demand for clean energy projects.
The intention is to replicate the venture exchanges of Canada and Australia, where junior companies raise funds, according to mining association Ibram.
In addition, federal development bank BNDES, mining giant Vale and state oil firm Petrobras are looking to draw up strategies for mining production to serve energy transition projects.
Also, BNDES and Vale are working jointly to launch an investment fund for critical mineral projects, a bank spokesperson told BNamericas without providing details about how the fund will be structured.
Vale, meanwhile, plans to expand its coppr and nickel production.
In September, the company signed a protocol of intent with Petrobras to develop low-carbon solutions, taking advantage of the technical expertise and synergies of the two companies.
The partnership will last two years and involves evaluating joint decarbonization opportunities, including the development of sustainable fuels – such as hydrogen, green methanol, bio-bunker, green ammonia and renewable diesel – and CO2 capture and storage technologies, Vale said at the time.