Latest Brazil News

Aguia Resources has completed the sale of its non-core Atocha Silver Project in Colombia, receiving the final C$1 million cash payment and fully divesting its interest. This move reflects a strategic shift to focus on near-term production assets and strengthens the company’s balance sheet.

Magnum Mining and Exploration is set to launch a substantial 10,000-metre auger drilling program at its Piracanjuba prospect in Brazil, aiming to define a maiden resource for its promising ionic adsorption clay rare earth element deposit.

Resouro Strategic Metals has appointed Simon Stilwell as Independent Non-Executive Chairman, with Christopher Eager stepping into the CEO role, marking a significant leadership reshuffle as the company advances its rare earths and titanium projects in Brazil.

Sheffield Resources has resumed mining and processing at its flagship Thunderbird Mineral Sands Mine following repairs to critical equipment, signalling a return to production at this major Western Australian asset.

Meteoric Resources hosted Minas Gerais Governor Romeu Zema at its Caldeira Rare Earth Project pilot plant, highlighting continuous production success and strong government backing for the project’s expansion.

Viridis Mining and Minerals has raised AU$25 million through a heavily oversubscribed placement, bolstering its cash position to approximately AU$76 million as it advances the Colossus Rare Earth Project towards a Final Investment Decision in Q3 2026.

Adelong Gold Limited has received a $1.17 million tax indemnity claim linked to alleged fraudulent GST reporting at Challenger Mines, which it plans to dispute. The claim stems from activities predating the current management team.

Perpetual Resources has identified a new pegmatite target, Pico Grande, at its Igrejinha Project in Brazil, adding to two existing prospects and setting the stage for trenching and drilling campaigns in 2026.

Power Minerals has appointed Alistair Stephens, a seasoned rare earths executive, as CEO to spearhead development of its South American critical minerals projects. Stephens brings decades of leadership experience and a proven track record in scaling rare earth ventures.

Centaurus Metals has locked in a binding five-year offtake agreement with global giant Glencore for a third of its Jaguar Nickel Project’s output, marking a pivotal step towards commercial production in Brazil.

The Brazilian government has imposed a 12% tax on crude oil exports effective immediately, a move framed as windfall profit sharing amid high oil prices. Karoon Energy, with significant Brazilian operations, faces new cost pressures as the tax awaits potential ratification by Congress.

Aguia Resources has secured key mining concessions in Brazil, setting the stage for operational licensing and commissioning of its Tres Estradas phosphate mine by April 2026.