Law No. 15,506/2026 Enacted: National Policy on Critical and Strategic Minerals

On September 16, 2026, the President of Brazil enacted Law No. 15,506/2026 (the “Law”), establishing the National Policy on Critical and Strategic Minerals (“PNMCE”) and creating the National Council for the Industrialization of Critical and Strategic Minerals (“CIMCE”). On the same date, Decree No. 13,118/2026 was issued, regulating the Council’s structure and operation.

PNMCE and Critical and Strategic Minerals

The PNMCE seeks to foster the sustainable exploration, mining, processing, mineral transformation, and urban mining of critical and strategic minerals, as well as to promote the development of the industry, distribution, trade and consumption of products derived from these minerals. Following the enactment of the Law, projects involving these minerals will be given priority review and processing by the Ministry of Mines and Energy (“MME”) and the National Mining Agency (“ANM”).

Under the Law, “critical minerals” are those that are essential to the Brazilian economy and whose supply is insufficient, unstable or vulnerable due to import dependence, geographic concentration or geopolitical risks, particularly in connection with the energy transition, food security and technological sovereignty. “Strategic minerals,” in turn, are those for which Brazil holds significant reserves and which are relevant to the country’s trade balance, technological development, regional development, or reduction of greenhouse gas emissions. The CIMCE will be responsible for defining and updating the list of minerals falling within these categories, which will be reviewed every four years.

All projects involving critical and strategic minerals must be registered with the National Registry of Critical and Strategic Mineral Projects (“CNPMCE”), which was created by Law No. 15,506/2026. The CNPMCE will consolidate information submitted by the relevant federal, state, municipal and Federal District authorities regarding critical and strategic mineral projects implemented in Brazil into a publicly accessible database integrated with the National Mineral Information System (“SIGMINE”).

Access to the support mechanisms provided for under the PNMCE will be restricted to projects registered with the CNPMCE and approved by the CIMCE.

CIMCE Structure and Responsibilities

To coordinate the implementation of the PNMCE, the Law established the CIMCE as the Policy’s central coordinating body. The Council will be chaired by the Office of the Chief of Staff of the Presidency and will comprise 18 members: 13 representatives from federal ministries; one representative from the states and the Federal District; one representative from municipalities; two private-sector representatives; and one academic representative.

Decree No. 13,118/2026 further details the Council’s structure and responsibilities, organizing it into three levels. The Plenary will be responsible for formulating and providing strategic guidance for the PNMCE; the Executive Committee will analyze and make decisions regarding specific projects; and the Executive Secretariat will provide technical and administrative support.

CIMCE’s Primary Responsibilities

The CIMCE’s main responsibilities include:

• Preparing and approving the National Plan for Critical and Strategic Minerals;
• Accrediting and approving projects for purposes of accessing the support mechanisms provided for under the PNMCE;
• Approving direct or indirect changes of corporate control involving companies holding mining rights related to critical and strategic minerals;
• Approving international contracts, agreements or partnerships involving the supply of such minerals under conditions that may affect Brazil’s economic or geopolitical security;
• Approving access to geological information of strategic interest or the acquisition of significant equity interests by foreign legal entities in companies holding mining rights; and
• Approving the sale, assignment or encumbrance of mining rights or titles granted by the Federal Government in relation to minerals covered by the PNMCE.

The CIMCE must be established within 90 days of the publication of Law No. 15,506/2026.

Mining Activity Guarantee Fund

Law No. 15,506/2026 also authorized the creation of the Mining Activity Guarantee Fund (“FGAM”), a private fund designed to provide guarantees for projects and activities involving critical and strategic minerals. Specifically, the Law authorizes the Fund’s resources to be used to provide guarantees covering credit risk and risk-mitigation instruments, such as price hedging, liquidity and contractual performance, as may be provided for in its bylaws and subject to the risk and return profile established in its investment policy.

Under the Law, in addition to paid-in quotas, the FGAM’s assets may consist of the signature bonus established under the PNMCE and voluntary contributions from federal entities and international and multilateral organizations. The signature bonus is a fixed amount payable to the Federal Government by the contracting party upon execution of the grant and in accordance with the terms of the relevant mining title for the granted area.

The Law authorizes the Federal Government to participate as a quota holder in the FGAM up to a limit of BRL 2 billion, subject to the Fund’s bylaws being submitted to and approved by the CIMCE.

Mining companies—including companies engaged in the exploration, mining, processing and transformation of critical or strategic minerals in Brazil—will be required to allocate a portion of their gross operating revenue to (i) the subscription of FGAM quotas, and (ii) research, development and technological innovation (“R&D”) activities, with the latter amounts also eligible for allocation to the FGAM or other private funds.

During the first six years following the regulation of this obligation, companies will be required to allocate 0.3% of their gross revenue to R&D and 0.2% to the subscription of FGAM quotas. After this period, only the allocation of 0.5% to R&D will remain mandatory. Failure to comply with the R&D obligations will subject the company to a fine equivalent to 150% of the amount not invested.
The CIMCE will establish, through regulation, the minimum contribution required for companies in the sector to access FGAM resources.

Law No. 15,506/2026 provides an exemption from Corporate Income Tax and the Social Contribution on Net Income (“CSLL”) for FGAM revenues.

Tax and Financial Incentives

The Law also provides for tax incentives and other support mechanisms for the sector, including a CSLL tax credit of up to 20% of expenditures on mineral processing or transformation, subject to approval by the CIMCE and the competitive selection of projects within an annual overall limit of BRL 1 billion between 2030 and 2034.

Other measures include the possibility of issuing tax-incentivized debentures and qualifying priority projects under the Special Incentive Regime for Infrastructure Development, as well as the allocation, through BNDES, of resources from the National Climate Change Fund to finance these activities. The Law also creates the Low-Carbon Mineral Certificate (“CMBC”), aimed at certifying domestic mineral production with lower carbon intensity.

Although the Law is already in force, full implementation of the PNMCE still depends on the regulation of several mechanisms, including the definition of the official list of critical and strategic minerals, the establishment of the FGAM, the rules governing CMBCs, and the implementation of the National Registry of Critical and Strategic Mineral Projects.

*This content was produced with the participation of law clerk Thalita Thadeo.