Critical Minerals Council: how Brazil's new regulatory body works

Brazil created a new national council in September 2026 to oversee the minerals it considers critical and strategic. The body, called CIMCE (National Council for Industrialization of Critical and Strategic Minerals), will evaluate mining sector transactions, define the official list of critical and strategic minerals, and regulate tax benefits and the Mineral Activity Guarantee Fund. The regulation is expected to be finalized by December 2026, and the sector is watching closely because the rules could affect everything from project financing to the sale of mining assets.

In summary

• CIMCE was created by Law 15,506/2026 and is linked to the Presidency of the Republic.
• It has three instances: the Plenary (guidelines), the Executive Committee (transaction analysis), and the Executive Secretariat (support).
• It will evaluate transactions such as changes in corporate control, transfers of mining rights, and international supply contracts.
• It will define the list of Brazil’s critical and strategic minerals, with review every four years.
• The regulation must be completed by December 2026.

What is CIMCE

CIMCE stands for National Council for Industrialization of Critical and Strategic Minerals. It was established by Law 15,506/2026, sanctioned on September 16, 2026, and is linked to the Presidency of the Republic. The idea is to centralize the governance of the new critical and strategic minerals policy in a single body, preventing decisions about strategic mining assets from being made without an assessment of national interest.

In practice, the council can block deals involving mining sector assets and companies, according to criteria that are still being regulated. This includes changes in corporate control, transfers of mining rights, and international supply contracts, such as advance sales of production (so-called offtakes).

How CIMCE is organized

The council has three main instances, with different functions:

Instance	Who chairs/coordinates	Function
Plenary	Chief of Staff’s Office	Sets strategic guidelines and general rules. Brings together government, states, municipalities, private sector, and academia.
Executive Committee	MDIC	Operational arm. Analyzes projects and transactions. Can approve with or without conditions, deny, or apply precautionary measures.
Executive Secretariat	MDIC	Supports the council’s operations. Has three sub-secretariats: management, projects, and transaction analysis.

The Executive Secretariat got a head on October 29, 2026: Carlos Leonardo Teófilo Durans, a career civil servant at the Ministry of Development, Industry, Trade and Services (MDIC) and a foreign trade analyst since 2013. The division into three sub-secretariats was created by a decree published on October 19, 2026.

The Ministry of Mines and Energy (MME) participates in decisions and must issue technical opinions in areas such as transaction analysis. The National Mining Agency (ANM) acts in a complementary and advisory role, maintaining its regulatory, oversight, and mining rights granting responsibilities.

What CIMCE will regulate

The council’s responsibilities are broad. According to the law and reports on the topic, CIMCE will:

• Define the list of critical minerals (based on Brazil’s supply vulnerability) and strategic minerals (based on the country’s comparative advantages). The list will be reviewed every four years.
• Evaluate transactions involving mining sector companies, such as changes in control, transfers of rights, and international contracts.
• Establish the rules for the Mineral Activity Guarantee Fund.
• Define tax benefits for the sector.
• Set criteria to determine which transactions will be analyzed, which will have a simplified process, and which will be exempt.

The government seeks to balance state control over strategic transactions without creating excessive bureaucracy. According to Rodrigo Fonseca, deputy secretary of the Secretariat for Articulation and Monitoring of the Chief of Staff’s Office, “the idea is to balance state control over transactions considered strategic without creating a bureaucratic process incompatible with the private sector’s dynamics.”

Why the sector is watching closely

CIMCE’s rules are highly anticipated because they could affect project financing. The council’s role is one of the most sensitive points for so-called junior miners, companies in the development phase that depend on foreign capital.

A concrete example is the acquisition of Meteoric Resources by Lynas Rare Earths. Meteoric owns the Caldeira Project in Poços de Caldas (MG), and the deal was valued at US$672 million (about R$3.4 billion). This is expected to be the first test of the new policy.

The sector advocates for objective criteria to determine which transactions will be analyzed and which will go through a summary process. The regulation should also establish transition rules for deals already in negotiation, preventing the new policy from harming ongoing operations.

The numbers in the critical minerals sector

While the council takes shape, sector data shows growth. According to ANM’s Critical and Strategic Minerals Portal, with 2025 data:

• 129,423 workers employed in critical and strategic mineral activities, equivalent to 57% of the 226,634 jobs in Brazil’s mining industry.
• Growth of 8.6% in the segment’s labor market between 2023 and 2025.
• Minas Gerais leads with 62,631 jobs, followed by Pará (27,047) and Bahia (9,147).
• Iron extraction leads job creation, with 70,027 workers.
• Mineral production generated R$250.4 billion in 2025, with 1,012 producing areas.

For more on job distribution and worker profiles, see Critical and strategic minerals: what they are and why they became a priority.

Next steps

CIMCE’s regulation should be completed by December 2026, as established by Law 15,506/2026. Points that still need to be defined include:

• Which transactions will be submitted to the council.
• Which may be exempt from analysis.
• Which will follow a simplified process.
• Transition rules for ongoing deals.

The council also needs to define the official list of critical and strategic minerals, which currently references the 2021 list with 24 mineral goods in three groups. For more on this list and the concepts of critical and strategic, see Critical and strategic minerals: what they are and why they became a priority.

Frequently asked questions

What does CIMCE mean?

CIMCE is the acronym for National Council for Industrialization of Critical and Strategic Minerals. It is the body created by Law 15,506/2026 to govern Brazil’s national critical and strategic minerals policy.

What will CIMCE do in practice?

The council will define Brazil’s list of critical and strategic minerals, evaluate transactions involving mining sector companies (such as control changes and international contracts), regulate the Mineral Activity Guarantee Fund, and define tax benefits.

Who chairs CIMCE?

The CIMCE Plenary is chaired by the Chief of Staff’s Office. The Executive Committee is coordinated by the Ministry of Development, Industry, Trade and Services (MDIC), which also houses the council’s Executive Secretariat.

When will CIMCE actually start operating?

The council has already been installed, but the regulation of criteria and procedures is expected to be completed by December 2026. The appointment of the executive secretary in October 2026 was an important step in this structuring.

Can CIMCE block the sale of a mine?

Yes. The council will have the power to evaluate and approve transactions involving mining sector companies, including changes in corporate control and transfers of mining rights. In practice, it can block deals that do not meet the national interest criteria that will be defined in the regulation.