Brazilian Nickel secures $19m financing for Piauí nickel, cobalt mine
Nickel and cobalt-focused Brazilian Nickel has secured $19.2-million in financing from Banco Nacional de Desenvolvimento Econômico e Social, (BNDES) in Brazil, for its subsidiary Piauí Nickel Metais to develop the flagship Piauí nickel project.
The company's business plan was selected by the Public Call for Investments in the Transformation of Strategic Minerals, launched in 2025 by BNDES and the Brazilian Innovation Agency to support projects with the potential to strengthen Brazil’s position in critical mineral supply chains and contribute to the global energy transition.
The funding will support the acquisition of machinery, equipment, industrial systems, components, computer and automation goods, and related industrial services. The facility may also be used for the acquisition of imported equipment where no comparable domestic alternative is available.
The Piauí nickel project, set to start production in 2028, is building production capacity for high-purity nickel and cobalt precipitates, including mixed hydroxide precipitate, which is an intermediate product used in the manufacture of nickel components for lithium-ion batteries for electric vehicles, as well as in established nickel applications including stainless steel and other alloys.
Once in commercial production, the project is expected to produce an average of 27 000 t/y of nickel and 1 000 t/y of cobalt, which positions Brazilian Nickel as a significant supplier to the global nickel market and a company that can strengthen Brazil’s strategic role in the critical minerals supply chain.
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