Brazilian Critical Minerals’ (BCM) Ema rare earths project in Brazil is poised to be one of the lowest-cost and most capital-efficient rare earth mines globally. A scoping study projects life-of-mine costs of just US$6.15/kg TREO and US$16.95/kg NdPr, with total development costs of US$55 million.
Over its 20-year lifespan, Ema is expected to produce nearly 100,000t of rare earth oxides, generating US$900 million in cash flow, even at lower market prices.
The project, using in-situ recovery (ISR) extraction, offers minimal environmental impact and aligns with ESG standards. BCM anticipates strong returns even at weak rare earth prices, with a net present value (NPV) of up to US$498 million and an internal rate of return (IRR) of 55%.
With substantial expansion potential, a feasibility study is set for 2025, alongside permitting and pilot trials. BCM is confident in securing funding through a mix of debt, equity, and strategic partnerships.