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Project Vault
An analytical briefing on Project Vault’s $10bn critical minerals stockpile and the 55‑nation framework, with price supports, scope, and operational…
April 2, 2026
Anna K.Country Intelligence
Supply Concentration Base
Brazil
Brazil stands out in this dataset through upstream production exposure, policy leverage over trade and investment, and named industrial and corporate presence, with its strongest relevance showing up in Niobium, Vanadium, and Graphite.
This country matters first as an upstream source of material supply, where production concentration can shape pricing power and availability.
Producer basePolicy driverIndustrial base
Strategic Read
Producer base
Brazil matters because upstream supply concentration still drives pricing power, availability, and procurement risk across multiple materials.
Policy events
3
Materials covered
8
Leading materials
NiobiumVanadiumGraphiteBeryllium
Overview
Why Brazil matters
Primary read
Producer base
Why it matters
Brazil matters because upstream supply concentration still drives pricing power, availability, and procurement risk across multiple materials.
What to watch
Watch policy changes, permitting, and trade rules alongside any shift in Niobium exposure.
Coverage signals
Materials covered
8
Linked policy events
3
Refining appearances
2
Named companies
3
These are dataset signals showing how often Brazil appears across strategic materials research, not official reserve or production totals.
Mining / upstream supply
Very High
5
Refining / processing
High
2
Policy leverage
Moderate
3
Industrial presence
Moderate
3
Material Exposure
Where Brazil appears in the dataset
Nb
Niobium
Integrated upstream and refining presence
ProducerSourceRefinerKey PlayerChokepoint
Niobium matters here because of producer signal: 90.4% (~75,000 tonnes, 2023), refining share: 90% (~150,000), 2 named players, and appears in chokepoint analysis.
Producer signal
90.4% (~75,000 tonnes, 2023)
Refining share
90% · ~150,000
V
Vanadium
Integrated upstream and refining presence
ProducerSourceRefinerKey Player
Vanadium matters here because of producer signal: ~5% (~5,000 tonnes), refining share: 5% (9,500-11,500 (2025 guidance)), and 1 named player.
Producer signal
~5% (~5,000 tonnes)
Refining share
5% · 9,500-11,500 (2025 guidance)
C
Graphite
Upstream production relevance
ProducerSource
Graphite matters here because of producer signal: 4.5% (73,000 tonnes).
Producer signal
4.5% (73,000 tonnes)
Be
Beryllium
Upstream production relevance
Producer
Beryllium matters here because of producer signal: ~11% (40 tonnes).
Producer signal
~11% (40 tonnes)
Ta
Tantalum
Upstream production relevance
Producer
Tantalum matters here because of producer signal: 7-10% (~80-120 tonnes).
Producer signal
7-10% (~80-120 tonnes)
Dy
Dysprosium
Supply-chain source relevance
Source
Dysprosium is one of the materials where this country appears in the intelligence dataset.
Li
Lithium
Supply-chain source relevance
Source
Lithium is one of the materials where this country appears in the intelligence dataset.
Nd
Neodymium
Supply-chain source relevance
Source
Neodymium is one of the materials where this country appears in the intelligence dataset.
Production & Refining
Industrial footprint by material
| Material | Roles | Producer signal | Refining |
|---|---|---|---|
| Niobium | Producer, Source, Refiner, Key Player, Chokepoint | 90.4% (~75,000 tonnes, 2023) | 90% · ~150,000 |
| Vanadium | Producer, Source, Refiner, Key Player | ~5% (~5,000 tonnes) | 5% · 9,500-11,500 (2025 guidance) |
| Graphite | Producer, Source | 4.5% (73,000 tonnes) | N/A |
| Beryllium | Producer | ~11% (40 tonnes) | N/A |
| Tantalum | Producer | 7-10% (~80-120 tonnes) | N/A |
| Dysprosium | Source | N/A | N/A |
| Lithium | Source | N/A | N/A |
| Neodymium | Source | N/A | N/A |
Key Players
Companies and industrial actors linked to Brazil
CBMM
Brazil
~77% of global supply. Araxa mine, Minas Gerais. Moreira Salles family controlled. 150,000 t/yr FeNb capacity. $80M battery-grade Nb2O5 plant.
CMOC International
Brazil (Chinese-owned)
Boa Vista mine (Goias) + Pitinga complex (Amazonas). ~10-15% global share. Hong Kong-listed subsidiary of China Molybdenum Co.
Largo Inc.
Brazil
Maracas Menchen Mine — one of the world's highest-grade vanadium deposits. VPURE brand flake and powder plus ilmenite concentrate. 2025 guidance: 9,500-11,500 t V2O5.
Policy Activity
Relevant policy and regulation
Feb
Feb 2026
Japan invests >US$500M in Brazil RE extraction
Government of Japan · Government of Japan
Bilateral agreement to develop non-Chinese RE processing in Goias. Complements existing Lynas/JARE partnership.
May
May 2024
EU Critical Raw Materials Act (CRMA) enters into force
European Union · European Commission
Sets 2030 benchmarks: no single non-EU country >65% of EU consumption; 10% domestic extraction; 40% domestic processing; 25% recycling. Directly challenges 92% Brazil dependence for niobium.
Pending
Pending
Elk Creek financing; Kanyika/Panda Hill construction decisions
NioCorp, Globe Metals & Mining, Cradle Resources · NioCorp, Globe Metals & Mining, Cradle Resources
Potential 10,000-15,000 t/yr of new capacity outside Brazil. Would meaningfully diversify supply if financed and built, but timelines remain uncertain.
Structural Risks
Chokepoints and concentration notes
Niobium: Brazil ~90% of mine production — single-country geological concentration
Niobium: US 100% import-dependent; EU 92% sourced from Brazil
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