In a CIMCE meeting, President Lula advocated for private and foreign capital for critical minerals, while reiterating strong criticisms of the privatizations of Eletrobras and Vale.
The federal government has begun work to structure the critical minerals chain in the country. During the first meeting of the National Council for the Industrialization of Critical and Strategic Minerals (CIMCE), President Luiz Inácio Lula da Silva presented the national guidelines for the sector.
The strategy aims to attract large private and international investments for the exploration of essential elements of the energy transition. The primary focus is on adding industrial value to the national product, moving beyond a model that simply exports raw raw material.
The official stance establishes a clear distinction between seeking international commercial partnerships and maintaining state control over strategic assets. This view prompted direct criticism of recent privatization processes carried out in Brazil.
Attracting capital and adding value in the country
The head of the Executive highlighted that the government’s intention is not to monopolize extraction and processing. The central goal is to forge alliances with economic actors interested in local processing of mineral resources.
Priority raw materials include lithium, copper, nickel, and rare earths. These inputs are vital for battery production, fleet electrification, and global renewable generation technologies.
During the event at the Palácio do Planalto, the president reinforced this vision of international cooperation:
“We do not want the State to be the supreme master of the exploitation, transformation, and industrialization of this wealth. Our proposal is to build partnerships, learn, and work together with other countries interested in participating in this process of exploration and transformation.”
State control and screening mechanisms
The push for external capital will be accompanied by strict rules set out in Law 15.506/2026, which establishes the National Policy for Critical and Strategic Minerals (PNMCE). The legislation grants the National Mining Agency (ANM) and the CIMCE the authority to supervise transactions in the sector.
Operations such as corporate control transfers, significant foreign investor entries, or geological data sharing will undergo prior public review. The stated goal is to safeguard national sovereignty and economic security.
The practical application of the screening system will depend on detailed regulations of the analysis procedures. The market awaits the technical definitions that will guide future concessions and partnerships.
Criticisms of Past Privatizations of Vale, Eletrobras, and Petrobras
Alongside the opening of the mining sector, the discourse voiced opposition to the past sales of national giants. The divestitures of Vale and Eletrobras (now Axia Energia) were deemed detrimental to the State’s inductive capacity.
The president maintained that these assets were sold below market value. For the electric infrastructure, it was argued that control over Eletrobras was a key element in planning the National Interconnected System (SIN).
The former management of Petrobras was also cited for selling refineries and fertilizer plants. According to the presented analysis, this divestment fragmented the productive integration of essential industrial inputs.
The new national directive explicitly states the challenge of balancing long‑term productive capital attraction with sovereignty requirements. The effectiveness of this policy will hinge on aligning sector support with the regulation of competent authorities.
In the coming months, the private sector will monitor the structuring of ANM rules. The ability to harmonize investor appetite with public safeguards will determine the country’s role in the global clean‑tech market.