Bravo talks new export processing zone in Brazil

Executive Summary

• Bravo Mining Corp. has been designated as the anchor company for a newly approved Export Processing Zone (ZPE) in Barcarena, Para, Brazil, by the National Council of Export Processing Zones (CZPE).
• This approval supports Bravo's "alternative case" vertical integration strategy outlined in the July 7, 2025, Preliminary Economic Assessment (PEA) for its Luanga PGM+Au+Ni project, enabling the potential development of a downstream smelter/refinery facility.
• The ZPE designation provides significant fiscal, tax, and logistical incentives, including suspension of import taxes and exemptions on domestic purchases, aimed at reducing capital and production costs for the proposed downstream processing operations.

Key Details

• ZPE Approval: The Conselho Nacional das Zonas de Processamento de Exportacao (CZPE) approved the creation of the Barcarena ZPE, designating Bravo Metals Ltda. (a 100% subsidiary of Bravo Mining Corp.) as the anchor company.
• Project Context: The ZPE supports the downstream processing of concentrates from Bravo’s 100%-owned Luanga deposit (PGM+Au+Ni) in the Carajas mineral province.
• Vertical Integration Strategy: The ZPE facilitates Bravo's alternative scenario to process PGM, nickel, and copper domestically rather than exporting raw concentrates, capturing more value within Brazil.
• Processing Methodology: The proposed facility would treat flotation concentrates via conventional sulphur removal followed by a pyrometallurgical route, producing sulphuric acid as a byproduct for sale to local fertilizer industries.
• Tax and Fiscal Incentives:
  • Suspension of import tax (II), federal maritime tax (AFRMM), tax on industrialized products (IPI), COFINS, and PIS/PASEP on imported products.
  • Suspension of taxes on domestic purchases (IPI, COFINS, PIS/PASEP).
  • Exemption from import/export licensing requirements.
  • Tax, administrative, and foreign exchange benefits for up to 20 years.
• Infrastructure and Logistics:
  • Located adjacent to the Port of Vila do Conde, a deepwater port handling bulk, liquid, and containerized cargo.
  • Approximately 590 kilometers from the Luanga project via road and future rail connections.
  • Access to industrial-scale infrastructure including workforce, power, natural gas, and port facilities.
• Renewable Energy: Bravo has signed a letter of intent with Casa dos Ventos (an associate of TotalEnergies) to secure renewable electrical energy supply for the downstream facility.
• Industrial Synergies: The Barcarena industrial corridor hosts fertilizer and chemical producers that currently import sulphuric acid; Bravo’s byproduct acid sales would create strong downstream synergies.
• Strategic Significance: This is the first mineral project selected as an anchor for a ZPE since Brazil's first export processing zone was created in 1988.

Notable Quotes

• "The approval of the Barcarena ZPE marks a pivotal milestone for both Bravo and the state of Para... We are proud to have the Luanga project recognized as the anchor for this new ZPE -- the first mineral project ever selected since the creation of Brazil's first export processing zone in 1988." — Luis Azevedo, Chairman and CEO, Bravo Mining Corp.
• "The ZPE further strengthen Luanga's options and strong fundamentals as one of the few PGM-plus-Au-plus-Ni deposits globally that could potentially support a large-scale, long-life, open-pit operation... Brazil is a central participant in the global critical minerals landscape and Luanga has the potential to be one of its key contributors." — Luis Azevedo, Chairman and CEO, Bravo Mining Corp.