Critical minerals: what changes for buyers and sellers of mineral rights under Law 15.506/2026

The law

Law No. 15.506 of 16 September 2026 (Lei nº 15.506/2026) establishes the National Policy on Critical and Strategic Minerals (PNMCE) and the National Council for the Industrialization of Critical and Strategic Minerals (CIMCE), linked to the Presidency of the Republic (art. 1). It entered into force on the date of its publication (art. 51).

Critical and strategic minerals

The law defines critical minerals as mineral resources needed by key sectors of the national economy whose availability is insufficient, unstable or vulnerable, and strategic minerals as those relevant to the country because of significant reserves and their importance to the economy (art. 2, I and II).

The substances that fall into each category, and their updates, follow economic, socio-environmental and climate criteria set out in regulation (art. 3, § 3).

What becomes subject to homologation

Under art. 3, § 2, the CIMCE and the National Mining Agency (ANM), through a screening mechanism and under the terms of regulation, homologate:

I. changes of corporate control, direct or indirect, including through corporate reorganization, of a company holding mineral rights to critical and strategic minerals;

II. access to geological information of strategic interest, or relevant participation or significant influence of foreign legal entities in companies holding rights to these minerals;

III. international contracts, agreements or partnerships involving the supply of these minerals under conditions that may affect the country's economic or geopolitical security;

IV. the sale, assignment or encumbrance of mineral titles granted by the Federal Government covered by the law.

Why this matters to buyers and sellers

For transactions involving rights to critical or strategic minerals, homologation becomes a step in the transaction itself. Knowing early whether the substance is classified as critical or strategic, and whether the buyer or the structure involves foreign participation, helps parties plan timelines and conditions.