BBX Minerals Limited (AU:BCM) has released an update.
Brazilian Critical Minerals Ltd (BCM), a significant player in the rare earth elements exploration in Brazil, has recently inked a five-year non-binding Memorandum of Understanding with SENAI’s Lab Fab to collaborate on the technological development of rare earth magnet manufacturing, underpinning Brazil’s ambition to integrate into the global high-tech electric motor industry. The partnership intends to bolster the supply of raw materials, strengthen industry relationships, and foster joint research endeavors, with Lab Fab gearing up to initiate production later this year aiming at an annual output of 200 tonnes of magnets. This strategic move aligns with BCM’s goal to elevate its rare earth permanent magnet production capabilities in response to the forecasted doubling of global supply demands by 2040.
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