Our team highlights Lithium Valley Brazil as a significant milestone in the progress of the Brazilian mining sector.
Brazil’s significant lithium potential is being unlocked as the country emerges as the 5th largest global producer, following Australia, Chile, China, and Argentina. To further enhance Brazilian lithium production, the Federal Executive Branch has implemented Decree 11,120/2022, which allows foreign trade operations involving lithium minerals and their derivatives while eliminating various requirements and restrictions. Effective from July 5th, this decree aims to facilitate the growth of the lithium industry. For more information, please refer to The rules and regulations applicable for the foreign trade operations of lithium minerals and ores and their derivatives have changed as of July 5th pursuant to Decree No. 11,120 | Cescon Barrieu.
With the current authorization of federal regulations, Governor Romeu Zema of the State of Minas Gerais has taken a pivotal step in promoting Brazil’s lithium sector by introducing the "Lithium Valley Brazil" initiative on the Nasdaq stock exchange in New York City. This strategic socio-economic project is centered around the lithium production chain and focuses on fostering the development of cities in the Northeast and North regions of Minas Gerais. The primary objective of this project is to create employment opportunities and bolster income for the local population.
The Lithium Valley encompasses 14 municipalities in Minas Gerais, including Araçuaí, Capelinha, Coronel Murta, Itaobim, Itinga, Malacacheta, Medina, Minas Novas, Pedra Azul, Virgem da Lapa, Teófilo Otoni, and Turmalina in the Northeast, and Rubelita and Salinas in the North. These cities hold significant reserves of lithium, a crucial mineral extensively utilized in the manufacturing of high-performance batteries for electric vehicles and electronic devices. As the demand for lithium continues to surge within these industries, this initiative aims to leverage the region’s potential for economic growth and technological advancement.
Governor Zema firmly believes that launching the initiative on Nasdaq provides a global platform to showcase Minas Gerais’ immense potential in the production of this strategic metal. By being positioned as a technology hub for battery manufacturing and value-added products, the Valley can make a substantial contribution to the ongoing energy transition and capitalize on the flourishing lithium market. The Lithium Valley Brazil initiative represents a major breakthrough towards progress, promising a brighter future for both local communities and the broader economy.
