Brazil's Tiros Rare Earth and Titanium Project Gets Preliminary Economic Assessment

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Resouro publishes the Primary Economic Assessment for its Tiros Rare Earth and Titanium project in Minas Gerais. Brazil is increasingly emerging as a potential alternative source of rare earth supply amid efforts to reduce dependence on China.

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Tiros Rare Earth and Titanium Project

Resouro Strategic Metals published the Preliminary Economic Assessment for its Tiros Rare Earth and Titanium project in Minas Gerais, Brazil, with a capacity to process 500,000 tonnes per annum (TPA) over 20 years and process a total of 9.5 million tonnes of high-grade feed throughout its mine life.

The Tiros project would require gross initial capital expenditure of US$191.1 million. Readers can view the project report. According to Industrial Info Resources data, excluding Tiros, there are 30 rare earth ore mining projects across Brazil amounting to investments of US$2.82 billion.

Overall, the project has measured and indicated resources of 1.4 billion tonnes containing titanium dioxide (TiO2) and rare earth oxides (TREO). Meanwhile, yearly production from Resouro's project is expected to be 42,300 TPA contained TiO₂ in coarse concentrate, 47,800 TPA contained TiO₂ in fine concentrate, and 3,636 tonnes of rare earth elements (REE) in product.

Tiros would require an annual operating cost of US$109.5 million, or US$219 per tonne processed. The project's after-tax net present value (NPV) stands at US$714.9 million at an 8% discount rate.

Beyond its initial processing, Resouro is also considering expansion to between 5 million and 10 million tonnes per year, pending technical, economic, permitting and other requirements.

"We believe that starting with a small high-grade operation will minimize the social and environmental impacts, reduce the time to production, and significantly de-risk the Project. Our goal with this staged approach is to support future financing and provide a pathway for larger-scale development," said Christopher Eager, Resouro's chief executive officer.

Abundant Rare Earths

Tiros' importance lies beyond a single project; it represents a larger geopolitical opportunity. Brazil is emerging as a strategic rare earths opportunity for companies and countries seeking to diversify supply and reduce dependence on China.

The United States Geological Survey (USGS) estimated Brazil's rare earth production in 2025 at 2,000 tonnes, compared to 270,000 tonnes from China. The agency estimated Brazil's rare earths reserves at 11 million tonnes, only behind China.

In April, the U.S.-backed USA Rare Earth (USAR) announced an agreement to acquire Brazil's Serra Verde Group, owner of the Pela Ema rare earth mine and processing plant in Goias, Brazil, for US$2.8 billion. The mine's significance lies in being the first-scale producer of heavy rare earths (HREE) outside Asia, capable of producing the four magnetic rare earths.

The announcement underscores Washington's efforts to strengthen its position in the rare earths market amid Chinese dominance.

China accounted for 69.2% of global rare-earth mining production in 2025, based on a report from the USGS. According to the International Energy Agency, China also represents over 90% of refining share and accounts for roughly 94% of magnet production, used in electric vehicles, wind turbines, electronics, and more.

Brazil's Larger Mining Role

Besides rare earths, Brazil is also playing an increasingly bigger role in the mining sector. Already a major iron ore supplier, the South American country is seeking to develop and expand the extraction of other key minerals such as lithium, copper, niobium and graphite to strengthen its strategic mineral base.

In line with this, the government of Luiz Inacio Lula da Silva has also announced efforts to usher in more investments into the nation's mining sector to create more local jobs, attract more investments, expand exploration, develop processing facilities, and further expand the nation's economy and strategic resource position.

Key Takeaways

• The Tiros project could process up to 500,000 tons per annum during its first 20 years.
• The project's output is expected at 42,300 TPA contained TiO₂ in coarse concentrate, 47,800 TPA contained TiO₂ in fine concentrate, and 3,636 tonnes of rare earth elements in product.
• Rare earth mines represent a larger geopolitical opportunity.

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).