The Bahia Project
Located in the far south of Bahia, Alcobaça, Caravelas, and Prado are municipalities rich in history with a promising future in critical mineral mining or also called strategic minerals. Although small, these towns play a significant role in the cultural and economic fabric of the region.
Located in the heart of the Southern Bahia, encompassing the municipalities of Alcobaça, Caravelas, and Prado, the Bahia Project by Energy Fuels is an initiative that transcends traditional mining, playing a vital role in advancing the global energy transition. Specializing in the extraction of strategic minerals essential for the manufacture of clean technologies, the project strategically positions itself at the forefront of efforts towards a globally less fossil fuel-dependent economy.
Rare earth elements (REEs) have a wide range of applications, from everyday products to high-tech products: They are used in lighter flints, pigments, glass and ceramic polishing, and in automotive catalysis. They are used in miniaturized batteries, laser repeaters, superconductors, and permanent magnets.
In the Green Industry. They are used in wind turbines and hybrid cars.
Titanium and Zirconium. They are used in dental and medical prosthetics, as they are biocompatible and have low allergy potential. They are also used in the aerospace industry, in the manufacture of engines. They are also used in prosthetics and surgical implants, as they are biocompatible and non-toxic.
Discovering Alcobaça, Caravelas, and Prado: History and Potential for Rare Earth Mining in the Far South of Bahia
The choice of the Costa do Descobrimento as the site for this project was not arbitrary.
The region harbors significant reserves of minerals, including titanium, zirconium and rare earths elements with unique characteristics that favor sustainable mining.
It is important to understand that the mining and processing methods to be used at the site must not create major health, safety or environmental concerns, and that the land will be fully reclaimed, with clean sand and topsoil replaced after mining. The land will be replanted with native species and with little sign that mining has ever taken place.
However, it´s underexplored potential for critical mineral mining that now draws attention, promising to rejuvenate the local economy through the sustainable extraction of these valuable resources.
The municipality was one of the first settlements points in Brazil and has a rich history connected to the exploitation of Brazilwood and whale fishing.
Today, Caravela leads the way a new era of exploration, centered on the extraction of titanium, zirconium, and rare earth elements – essential components for producing electronics, hybrid vehicles and renewable energy systems and other cutting-edge technologies.
The abundance of these minerals could transform the municipality into a significant economic and technological hub.
The municipality, which initially thrived through agriculture, today looks towards the future with critical mineral mining. With reserves yet to be quantified but potentially rich, Prado could become an example of how mineral resources can be extracted responsibly, bringing economic benefits while preserving the environmental and cultural integrity of the region.
The presence of critical minerals, including titanium, zirconium, and rare earth elements, in these municipalities represents a unique opportunity for sustainable development. It is imperative that the mining of these resources be accompanied by rigorous environmental studies and ongoing dialogue with local communities. By employing best practices and advanced technologies, it is possible to ensure that the benefits of mining are shared by all, while minimizing negative impacts on the environment and local communities.
The inclusion of critical mineral mining in the economic scenario of these municipalities has the potential to add a new chapter to their story, one that speaks of innovation, sustainability, and shared prosperity.
From its inception, the Bahia Project is guided by comprehensive perspective on sustainability. Integrating practices and strategies aimed at minimizing environmental impacts and maximizing social benefits, the project adopts performance standards from the International Finance Corporation (IFC) and guidelines from the Global Reporting Initiative (GRI), ensuring responsible and transparent action.
The Bahia Project is more than a mining operation. It is a commitment to sustainable development, clean renewable energy and regional prosperity. Located in an area of 15,077.83 hectares, the project is currently in the Mineral Research phase, preparing the ground for the future production of mineral resources that are vital to the planet’s energy future.
We represent a model of how natural resources can be responsibly extracted, offering economic progress while conserving the environment for future generations. The Bahia Project is a clear demonstration that it is possible to harmonize economic growth with environmental conservation and social equity, leading by example on the path to a more sustainable future.