The fund jointly established by the Brazilian Development Bank (BNDES) and the National Financial Institution (Finep) has selected 50 projects related to the critical minerals supply chain, with a total of R$5 billion ($900 million) in funding support. The fund aims to increase investment and promote the development, innovation, and downstream processing of critical minerals, covering vital materials such as lithium, graphite, copper, nickel, and rare earths, to drive transformation in the domestic mining industry. BNDES stated in its announcement that the funds can be accessed through financial instruments such as credit, subsidies, and non-reimbursable support.

The green transition, driven by the global race for renewable sources of energy, will no doubt transform both industries and economies. Interest from governments, businesses, and consumers in sustainable living has surged, hence a surge in demand for new energy technologies such as electric vehicles, renewable energy storage, and efficient energy solutions. Such transformation does not come without its challenges, notably in the security of supply for metals that these technologies depend on.

In recent times, the movement toward cleaner energy has seen increasing demand for renewable power sources, such as wind and solar, as a driving force for metals. Copper, aluminum, and rare earth elements will be highly critical both for the manufacture and operation of wind turbines and solar panels.